When an out of the ordinary corporate action requiring shareholder elections comes along, the planning and logistical challenge can be phenomenal.
At Computershare, we have the resources and experience to manage the Rights Issue process from start to finish. In the summer of 2008, we managed three of the largest Rights Issues in UK history, with a combined shareholder base of just over 3.3 million.
These included the full range of options including tail swallowing, early sale of rights, and the splitting of allotment letters, as well as application of the Rights Issue to the full range of employee share plans and recalculation of employee plan entitlements.
Our service included:
> The processing of 21,000 online sales of rights instructions – the first ever online applications for a Rights Issue
> A clear Rights Issue guide, outlining and simplifying the process for shareholders
> A new phone system deployed to handle additional capacity
> Recruitment and training of around 400 staff
> Over 117,000 calls presented and handled by contact centre agents
> Successful production and mailing of all cheques and advice notes, certificates and statements
> A scanning environment using new cheque processing software
Over the entire process, 850,000 instructions were received and processed, often over the course of the same day.
Want to find out more? Email Ben Carpanini to discuss your requirements.