Dear Valued Client,
RE: Dematerialization of Outstanding Share Certificates
We refer to the above subject matter.
The Securities and Exchange Commission (SEC) in the course of moving the Nigerian Capital Market forward had set up a Market Committee to review strategies and processes that would enhance operational efficiency, transparency and elimination of risk of loss and theft of share certificates. The Committee identified a full “Dematerialization of Share Certificates” as one of the grey areas which needs to be addressed as a matter of urgency. In view of the above, SEC has mandated all Registrars of Companies to update the register of their respective members and transfer all unverified/outstanding share certificates to the Central Securities Clearing Systems (CSCS).
We anticipate you may have bulk of unverified share certificates at your disposal/certificates you could not trace nor received at all. Consequently, in order to enhance a seamless adherence to the regulatory authority’s directive, avoid a potential fraudulent diversion/conversion of your shares and enhance overall operational efficiency, our network of branches nationwide are well informed and fully equipped to take you through a hitch-free full dematerialization exercise.
To this end, we implore you to walk in to or call any of our branches as listed below:
You can as well visit our website www.cashcraft.com and peruse our contacts nationwide and other details or e-mail us through firstname.lastname@example.org. Our Relationship Officers are readily available to reach out to you.
However, if you have accounts domiciled with other firms but not enjoying their services, we request you kindly execute and submit the necessary inter-member transfer of account documents to enable us meet your needs.