Securities administration - Greece
Reference
Income collection
The average period between the record date and payment date varies according to the type of share (bearer, certificates etc.). The actual payment also depends on the availability of the cash.
| Market Record date | Ex-date | Basis for entitlement | Standard interest calculation rule |
| Coupon payment - private fixed income | |||
For dematerialised securities, the last trading date cum entitlement (T). | T+1 | The last trading date cum entitlement. The confirmation of struck position comes on T+2. | Actual/360 |
| Coupon payment - public fixed income | |||
Government bonds | |||
Payment date -1 | Payment date | Settled position on record date | Fixed and floating rate coupons, actual/365. |
Treasury bills | |||
Payment date -1 | Payment date | Settled position on record date | Discount to face value, interest calculation not applicable |
| Dividend payment | |||
| Ex-date +1a | First trading date without entitlement | Settled position on record date at close of business | Not applicable |
a. Market Record date is linked to Settlement Date (SD) and not to Trade Date (T).
Corporate actions
Most common corporate events
The most common events in the Greek market are dividend distributions, shareholder meetings, warrants exercises, mergers and takeovers and share capital increases such as rights issues, bonus issues, stock splits and reverse stock splits.
| Market Record date | Ex-date | Basis for entitlement | |
| All events | Ex-date +2a | First trading date without entitlement | Settled position on record date at close of business |
| AGM/EGM | 6-4 calendar days before the AGM/EGM | First trading date without entitlement | Settled position on record date at close of business |
a. Market Record date is linked to Settlement Date (SD) and not to Trade Date (T).
Automated corporate action processing is provided for:
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Semi-automated corporate action processing is provided for:
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Organisation of AGM/EGMs
The AGM is normally held by companies between March and July.
Local companies are required to publish or announce the AGM 20 calendar days prior to the AGM date.
No blocking of shares takes place for participation in a general meeting of companies whose shares are registered at Euronext Securities Athex S.A.1; the shares are available for trading between the record date and the date of the GM. Record date is set at six (6) calendar days (end of day) prior to the date of the GM. For repetitive GM the record date is four (4) calendar days prior to the repetitive GM.
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1. Until 24 September 2010, voting shares were blocked five days prior to the AGM and until the AGM is performed (meeting date inclusive).
