Issue, replacement and deletion due to cancellation of dematerialised securities are subject to decision by the Central Securities Clearing Corporation based on an issuer's order for issue of securities.
The contents of orders for issue, replacement or deletion of dematerialised securities and other legal issues in relation thereto are regulated by the Dematerialised Securities Market Act (Article 13 in relation to Article 11).
The procedure relating to issue, replacement or deletion of dematerialised securities is regulated in greater detail in KDD's Operations Rules and Regulations on central registry maintenance.
When an issuer is obliged to provide details on holders in relation to issue of securities (for instance issue of debt securities or issue of shares upon incorporation of a joint-stock company or increase of share capital through new subscribed contributions), these details must be sent in electronic format. In order to assist you, we have prepared an Access table with properly formatted fields for entry of data on holders. Should you wish to be sent the file (free of charge), please send us a request to our e-mail address at izdajatelji@kdd.si.
Replacement of shares with book value for par value shares
The Central Securities Clearing Corporation enters the change in data on securities into the central registry upon receiving an order by the respective issuer. The issuer is obliged to issue the Central Securities Clearing Corporation an order for change of share characteristics.
The issuer prepares the order in the form of a letter (no official format is anticipated here), which includes identification details of the issuer, the denotation of the respective security and the note that the order serves to instruct the Central Securities Clearing Corporation to change the share characteristics, namely by replacing book value shares for par value shares. Also stated is the exchange ratio as per which book value shares are replaced with par value shares.
If shares are exchanged at a rate of one book value share per one par value share, the Central Securities Clearing Corporation shall not replace the said security but will rather only enter the change of data on the security in the central registry. The issue shall submit a copy of the notarised revised wording of the Articles of Association and decision of the registrating court to the order, which serves as proof that the Articles of Association were indeed submitted to the registrating court.