What happens if I miss the deadline for returning my choice of option?
If you have missed the MeDirect deadline then the default instruction option will be applied on your investment.
If you have missed the MeDirect deadline then the default instruction option will be applied on your investment.
The company’s registrar will often set a default election option for security holders to be used when no reply is received. MeDirect will tend to use the same default option, however, there may be some occasions when MeDirect will set a different default option. MeDirec will always advise the default option on our corporate action notifications.
In certain scenarios, your investment will be blocked from market trading upon receipt of your submitted corporate action election. An example of this scenario would be a tender offer or a company repurchase offer: if you opt to sell your shares under the offer then it is necessary to block your holding from market trading.
A mandatory event does not require any investment decision from you, it is simply for your information. An example of a mandatory event would be a spin-off, where part of a company is spun-off to create a new company. If you have shares in the original company, you will receive shares of the new company whilst retaining your original investment. A voluntary event invites you to take part in an offer, but you may also decline to take part, in which case the default option will apply. Usually, the default option for a voluntary event is to ‘take no action’. A tender offer is an example of a voluntary event, where a third party wants to buy a portion of equity in your invested company, you will have the option to tender all or part of your investment. The event could eventually become a mandatory takeover where the third party attempts to buy the entire share capital leaving you without the choice to tender or not.
You should await contact from us. You will receive a secure message in your online secure inbox for any corporate actions that require your attention. You may be required to make a decision for certain corporate actions. If this is the case, we will indicate which options are available. Your instruction must be delivered by return secure message. We will also confirm the date by which your response must be received on our corporate action notification.
No, it is free to participate in corporate actions.