faqs

Global Depositary Receipt (GDR)

DataMax Registrars Limited is the Nigerian Administrative Agent to the Domestic Offering of the Guaranty Trust Bank GDRs. Our main function is to maintain the register of the holders of the Domestic Offering GDRs.

Beneficial Holders or GDR Holders are the investors whose allotments under the Domestic Offering have been confirmed by way of the issue of Allotment Statements and Certificates in their respective names.

Beneficial GDR Holders will receive the benefits of owning the  GDRs (dividends, voting rights, capital appreciation).

What is the difference between my GDRs and the Bank’s ordinary shares?

The GDRs, are denominated in dollars and traded on The London Stock Exchange [LSE] while the ordinary shares are denominated in Naira and traded on The Nigerian Stock Exchange (NSE)

Dividends on the GDRs are paid in United States dollars.

Do I have the same rights as ordinary shareholders of the Bank?

  • Yes

How do I monitor pricing information on my GDR holding ?

  • GDR pricing information can be obtained on Bloomberg (www.bloomberg.com) and Reuters (www.reuters.com) by inserting the ticker symbol as follows:
  1. Reuters – GUARq.L
  2. Bloomberg – GRTB LI EQUITY

The GDR pricing information is also available on GTBank PLC’s web site

How do I monitor my GDR Holding?

  • You can obtain up-to-date information about your GDR Holding from the Administrative Agent – DataMax Registrars Limited, 2C, Gbagada Expressway Gbagada Phase 1, Lagos Nigeria or from our Online Shareholder Portal.

Buying & Sellings Of GTBank GDRs

There are three distinct secondary market transaction categories/structures available to Domestic GDR Holders:

  • Domestic Over-the-Counter GDR Transactions;
  • Trading GDRs via the International Order Book (“International Trade”); and
  • Issuance or Cancellation (“Conversion”) of GDRs
  • The GTBank GDRs are fungible, which means existing ordinary shares can be surrendered to create new GDRs and existing GDRs can be cancelled and converted to underlying shares of GTBank

GDR Transaction Charges

end faq

Shares

1. What is a share?

  • A share is part ownership in the company. As a shareholder, you are one of the owners of the company and the number of shares you hold is a measure of how much of the company you own.
  • Shareholders, also called 'members', can vote on major decisions of the company such as those taken at the Annual General Meeting (AGM).

2. How much are my shares worth?

  • It is possible to check share prices on The Nigeria Stock Exchange website and there are a number of News papers with this information.

3. How do I sell my shares?

  • You can sell your shares through a stockbroker. The rates of commission charged are determined by the Regulatory Bodies SEC and the NSE.

end faq

 

General Meetings

1. What is the annual general meeting?

Most limited companies are required to hold an annual general meeting, or AGM of shareholders at which decisions are taken on the company's business. The 'ordinary' business of the AGM is repeated every year and includes accepting the company's accounts for the year and fixing the proportion of a company's profits that will be paid back to shareholders as a dividend.

The company's directors often take this opportunity to put forward other business requiring the agreement of shareholders.

2. What are the other types of meeting?

  • There are other types of shareholder meeting, such as an extraordinary general meeting (EGM) that are called if there is urgent business requiring shareholder approval that cannot wait until the next AGM.

3. If I cannot go to a general meeting, can I vote?

If you cannot go to the meeting yourself, you can appoint someone else to go in your place as your 'proxy'. To do this, you must complete the proxy card that is sent to you with your notice of meeting and annual report and send it back to us 48 hours in advance of the meeting with the appropriate stamp duty paid. If a poll is taken on a resolution, your proxy can cast your vote for you but is not usually able to speak on your behalf.

If you cannot appoint a proxy to attend the meeting in person, you can still send the proxy form back to us and in the event of a poll on any resolution, the chairman will cast your vote for you in line with the instructions you give on the form.

We are currently seeking approval of the Securities and Exchange Commission to introduce online proxy voting, to enable shareholders send their proxy instruction over the web. If and when this service becomes available, details will be sent you with the information about the meeting.

4. How can I receive shareholder communications electronically?

  • DataMax Registrars Limited is offering shareholders the choice of receiving communications such as the notice of meeting electronically instead of post. To register a preference, you just need to register on our online web based services, which you can use to tell us your preferred option for company mailings: e-mail or post. You can change this anytime you log on to our online shareholder service.

5. What happens if I change my e-mail address?

  • You should make sure that your e-mail address on our online shareholder service is up to date. If we are unable to send your shareholder communications, such as a notification of meeting, because the address you have given us is not recognised, we will send you a paper copy by post within 48 hours.

6. How do I send my proxy instruction online?

When we start offering this facility, you will receive details with other information about the meeting.

end faq

 

Buying, Selling or Transferring Shares

 

Share dealing
You can buy or sell shares through a stockbroker service.

1. I have bought/sold shares recently but there is no change to my account

If you have bought or sold securities through a stockbroker on the floor of The Nigerian Stock Exchange, The CSCS will automatically send us instructions to amend our records on the appropriate date.[T+3 ].This is the date on which shares and money are exchanged in the market and is known as the 'settlement date'. Our records are usually updated 1 week thereafter.

Depending on the time the deal is processed, it may take a day or so for the new details to be displayed on our online service. If the correct information is still not shown after this time, your Stockbroker should be able to confirm what has happened.

2. Can I transfer shares to a child?

It is usually possible to transfer shares to someone below the age of eighteen but you should note that this can lead to complications: for example, dividends will be paid only in the name of the shareholder and if you subsequently wish to transfer shares held in the name of a minor, you may need a court order.

Alternatively, you can continue to hold shares in your name on behalf of the minor, segregating them from other shares you may hold by adding a 'designation'. e.g " In trust "

end faq

 

General Shareholding

1. Is DataMax Registrars regulated by an independent body?

  • DataMax Registrars limited is licensed and monitored by the Securities and Exchange Commission. If you have a complaint on any area of our service, please let us know: we will do our best to answer your concerns.

2. Bereavement and shareholdings

What do I do?

  • When a shareholder has died, anything they owned or owed has to be calculated – this is known as the estate. The estate includes any shares and un-cashed dividend payments. The people appointed to deal with the estate are called executors, administrators or personal representatives.
  • As a personal representative, you will need to know how much the shares are worth. We will be able to tell you the details of the shareholding, but we cannot provide a valuation. You can get up-to-date share prices from your stockbroker and newspapers with a financial section, or The Nigerian Stock Exchange website.
  • If you are administering an estate, you may need to transfer shares into the name names of beneficiaries.
  • The first step is to write to us to let us know what you are going to do. We will then place a temporary marker on the register to ensure that wherever possible, we do not issue further dividend payments in the shareholder's name.
  • You may need advice from your solicitor on how to go about this or you can contact the Probate Registry of the high courts for more details. We will then ask you to return the completed forms with an 'office copy' of the grant. This is a copy of the front page of the document which has been sealed by the Probate Registry and issued by a court of competent jurisdiction i.e. the high courts.
  • We will then issue a certificate in the new name.
  • There is an administration charge to amend the register. The original death certificate is also required. You should also send us the share certificates so that we can issue replacements in the new name.

3. What do I need to send to DataMax Registrars?

The following legal documents which includes: the original and 2 copies which has been sealed by the court.

  •  Probate
  • Letters of Administration

We also need you to send us the following:

  • The Original share certificate(s) 
  • Any un-cashed dividend cheques/Warrants still in your possession 
  • 2 Copies of death certificate (original copy for sighting)
  • Original copy of banker’s confirmation of signature(s) of administrators or executors with thier passport photograph(s) stamped by the Bank.
  • Covering letter with administrators / executors current address
  • Newspaper publication/notice of obituary
  • Power of attorney (where applicable)

4. What do I do if I can’t find the share certificate(s)?

  • If you can’t find the share certificate(s) please get in touch with us and we will let you know what you need to do.

5. Are there are any outstanding payments?

  • When you get in touch with us we will be able to let you know the amounts of any outstanding payments.

6. How do I transfer the shares?

  • The shares cannot be transferred until the grant of representation has been registered.

7. How can I sell the shares?

  • If you wish to sell the shares, you will need to contact a stockbroker or financial adviser.

8. What do I do if shares are held in joint names?

If the shares are held in joint names, we will remove the name of the shareholder who has died and the shares will be kept in the name of the other joint holder or holders. So that we can do this, please send us the following:

  • The original death certificate
  • All share certificates
  • Any outstanding dividend cheques

9. Will you need me to pay a fee?

  • Yes, you will need to pay a fee. – Please get in touch with us for more information.

10. About online shareholder service

  • You can use online shareholder service to look at a wide range of information about your shareholdings.

11. What is online shareholder service?

  • This is a service offered by DataMax Registrars which gives you internet access to a range of information about shareholdings on registers that we maintain. This includes holding details (such as name and address), indicative share prices, and recent balance and movements. It also includes information on corporate actions, proxy voting. The service is easy to use because once you have created your online access; information on your holdings is presented clearly and conveniently.

12. How secure is the service?

  • You can only gain access to your own information using your shareholder account number, and your password (which we select and send to your home address or email) and your password (a sequence of numbers and characters that you select), when you logon to our portal for the very 1st time.

13. How much does it cost?

  • At present there is a yearly charge of N1,000.00 for using the online shareholder service.

14. How do I register?

Register by downloading the Online Shareholder Portal Form or Click here to download the form for your completion. Kindly send the completed form to this e-mail ( This email address is being protected from spambots. You need JavaScript enabled to view it. ) we will aceed to your request and send your logon details to your e-mail address.

At first log-on you will be prompted to change your password. Please note that your password must be alphanumeric, minimum of 5 characters

15. What if I am not a shareholder?

  • You must have a holding on a participating register in your name and address to use the online shareholder service.

16. Can I use this service to sell my shares?

  • The main use of the online shareholder service is to give you access to information about your holdings.

17. What happens if I sell my shares?

  • If shares are bought or sold through the market, the share register changes 1 week after the ‘settlement’ date.

18. Can I use online shareholder service to contact you by e-mail?

    Yes by sending a mail to the e-mail address ( This email address is being protected from spambots. You need JavaScript enabled to view it. ) You can also follow us on facebook, twitter and linkedin.

end faq

 

More Articles...

  1. Certificates
  2. Dividends
Related Pages