Ireland and United Kingdom: Removal of Irish securities and certain depository interests from the CREST system on 30 June 2021
Further to the Announcement A20164, A21020 and A21026, Clearstream Banking1 would like to provide its customers with additional information regarding removal of Irish domestic securities and certain depository interests (DIs) from the CREST system of Euroclear UK and Ireland (hereafter “CREST”).
Background
CREST regulatory statuses which allow them to settle securities constituted under the laws of Ireland (‘Irish Securities’) as Issuer CSD are due to expire on Wednesday, 30 June 2021. As from that date, CREST will suspend its services for Irish domestic securities, including:
- Securities constituted under the laws of Ireland ('Irish Securities') as Issuer CSD;
- A small number of securities constituted under the laws of Cyprus, The Netherlands and Luxembourg, which are represented in the CREST system by way of registrar depository interests (DI) where there is no other CSD in the holding chain.
Impacted securities
Unless the relevant issuer or its registrar requests earlier disablement and expiry, all of the following will be disabled in CREST at close of business on Wednesday, 30 June 2021.
Irish securities
ISIN | Security full description | Registrar name |
IE0006765089 | Trinity Biotech Ord A shares US$ 1.09 cents | COMPUTERSHARE INVESTOR SERVICES (IRELAND) LIMITED |
IE00B3VYQL47 | Balmoral International Land Plc Ord Shares EUR 0.00001 | COMPUTERSHARE INVESTOR SERVICES (IRELAND) LIMITED |
IE00BDGMC594 | Avadel Pharmaceuticals Plc Ord Shares USD 0.01 | COMPUTERSHARE INVESTOR SERVICES (IRELAND) LIMITED |
IE00B1Z90V93 | TVC Holdings Plc Ord Shares EUR 0.01 | Link Market Services Limited |
IE00BFLQD028 | Altas Investments PLC Ord Shares EUR 0.00125 | Link Market Services Limited |
IE00BYV0PB28 | NTR PLC Ord Shares EUR 0.00125 | Link Market Services Limited |
DI securities
ISIN | Security full description | Registrar name |
CY0009731015 | XXI Century Investments Public Limited | COMPUTERSHARE INVESTOR SERVICEDIS LIMITED |
LU1914372336 | RM2 International SA | COMPUTERSHARE INVESTOR SERVICES LIMITED |
NL0000051043 | Kimberly Enterprises NV | COMPUTERSHARE INVESTOR SERVICES LIMITED |
NL0000686319 | Spazio Investment NV | Link Market Services Trustees Limited |
NL0010763611 | Brack Capital Real Estate Inv NV | Link Market Services Trustees Limited |
Please note that in addition to the list provided above there are other DIs representing securities domiciled in Cyprus, Luxembourg or The Netherlands deposited in CREST which are not impacted by this removal for which CREST is making the necessary changes to enable them to continue being settled in the CREST system on and from 1 July 2021.
Impact on customers
As mentioned above, disabling and expiring the securities at close of business on Wednesday, 30 June 2021 is a change from the normal disablement and expiry process which usually has a period of 10 business days between disablement and expiry. This will mean that after Wednesday, 30 June 2021:
- It will no longer be possible to hold or transfer the affected securities within the CREST system;
- All instructions relative to the affected securities will be rejected by CREST;
- All balances in the affected securities will be set to zero by means of an adjustment (ADJ)transaction in CREST
- The status of the security will be set to ’deleted’ in CREST;
- Prices for the affected securities will not be updated.
Actions to be taken
Customers holding ISINs CY0009731015, NL0000686319 through Clearstream are hereby requested to provide instructions to withdraw these securities from Clearstream by Friday 25June 2021 11:00 CET. Upon receipt of instructions the securities will be registered in the name provided in the instructions and certificates delivered to the provided address.
The delivery instruction to withdraw securities must follow settlement instruction formatting requirements for physical transactions specified in the Instruction specifications section of the Market Link Guide for United Kingdom (UK equities, corporate bonds and investment trusts - 1).
For other Impacted securities, Clearstream is working closely with its custodian Citibank N.A., London Branch (“Citi”) to be able to continue holding these securities in custody with Citi.
Further information
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.