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Enclosure 16 (E16) – Procedure in the Case of Transformation of a Client/Issuer Registered within CD AD  

1. The transformation-related documents – in case the shares are under a clients account, - shall be submitted to the Central Depository by the investment intermediary who is a member of the Depository which holds the clients accounts of the company under transformation.

2. The documents required under item 1 are:

2.1. a statement by the investment intermediary with an explicit order for recordation into the registry of the transformation-related circumstances /the statement shall be signed by the client too /;

2.2. court decision about the recordation;

2.3. BULSTAT and tax number of the client;

2.4. Requirements needed in order to perform the standard operations under the “taking” of a client from the investment intermediary.

3. In case the shares of the company under transformation are in Registry A, the transformation-related documents shall be submitted by an investment intermediary who is a member of the Depository. For the purpose of the transformation’s registration, the entity should become a client of an investment intermediary he/she/it has chosen.

4. In case the company under transformation is an issuer registered with the Central Depository, the documents shall be submitted by the issuer and Central Depository AD shall carry out the necessary actions to enter the respective circumstances into the registry, and shall thereof notify the investment intermediaries who are Depository members. The investment intermediary should notify his/her clients. After the recordation, the accounts at the Central Depository shall remain in the same category (clients’ accounts, personal accounts) as they were before the transformation.