The induction of Unpaid Rights into the Central Depository System (CDS) is an outcome of CDC’s resolve to bring efficiency in the capital market mechanisms by facilitating efficient processing of all corporate actions through CDS electronically in order to cut operational and logistic costs and make processes swift and hassle-free.
At a time when a number of organizations are issuing their unpaid rights for subscription, CDC realized the need to provide easy accessibility to investors located across Pakistan as well as abroad. Addressing this urgent need, CDC recently allowed submission of Right Subscription Requests for Investor Account Holders through the following customer convenience channels:
IAS Account Holders, registered to use CDC access - IVR and / or CDC access – Web facilities can now notify their right subscription requests through these channels as well. Similarly, IAS Account Holders can avail this facility through email using their registered email address with CDC or convey their requests through fax to the respective CDC office.
In other words, the shareholders can now subscribe to the right issue by making subscription requests conveniently through any of these channels which were introduced earlier to provide up-to-date information and timely response to CDC clients against their queries and will now also facilitate the investors in terms of convenience, speed, efficiency and productivity.
eStatements (Account Balance Statements through Email)
Considering that most of the Investor Account Holders prefer to receive and share important information regarding their account activities through email due to its convenience, CDC has decided to send Account Balance Statements by email on a monthly basis to those Investor Account Holders who have provided their email addresses to CDC. Moreover, for the same reason, the frequency of sending Physical Account Balance Statements has been set to bi-annual with effect from July 2010.
