Securities administration - Lithuania
Income collection
Payment is made in EUR.
| Market Record date | Ex-date | Payment date | Basis for entitlement | Standard interest calculation rule |
| Coupon payment | ||||
| According to the Prospectus | Not applicable | Record date +1 business day | Security position on Record date | Short-term bonds: Actual/360 Long-term bonds: Actual/Actual |
| Dividend payment | ||||
| After AGM +10 (usually) | PD-2 (usually, as T+2 settlement cycle) | Record date +11 business days (earliest), Record date +30 business days (latest) | Security position on Record date | Not applicable |
Corporate actions
Entitlements for debt securities and equities are determined based upon the Record date. Record and Payment dates are approved by the AGM.
Official tender offers and other corporate action events with underlying cash proceeds will be processed in EUR. This is specified by the issuers in the prospectus.
Most common corporate events
The most common corporate events in Lithuania are as follows:
- Non-voluntary: cash dividends, coupon payments, and final redemptions;
- Voluntary: bonus issues, rights issues and tender offers.
Organisation of AGM/EGMs
An AGM must be held every calendar year within four months from the end of the financial year (which usually corresponds to the end of the calendar year). As a consequence, AGMs are most often held by companies in March or April. Record date for Proxy Voting is five business days before the AGM. Shareholders' voting eligibility is determined based on settled position on Record date. Partial and split votes are allowed.
Proxy voting
All shareholders holding the shares as on Record date are eligible to vote at the meeting.
SEB Estonia, as nominee account owner in SEB Lithuania, would be able to represent beneficial owners. No power of attorney is required from the beneficial owner. The market deadline to participate in the meeting is five business days before the AGM/EGM.