HC Securities & InvestmentNew law announcement
On 16 January 2018, Egypt’s Company Law No. 159 of 1981 was amended, stipulating that before any joint stock company can be registered, its shares are to be deposited with Misr for Central Clearing, Depository, and Registry (MCDR). Contact HC to help further clarify this new law for you. Additionally, you may visit the official source for clarification.
The amendment aims to shift the securities’ bookkeeping service to become automated instead of its current manual status in some cases.
HC offers securities registry services at MCDR, in line with the new law amendments.
HC helps to issue company lists and register all types of securities at MCDR.
HC introduced custodial services for stockholders without the need to open a bank account in addition to the following facilities:
1. Securities deposition at MCDR
2. Securities settlement and clearance of buy/sell transactions
3. Profit collections in favor of stockholders (coupons and share distributions – stock splits, etc.)
4. Provide the share ownership certificate to attend the issuing company’s general assembly meetings
5. Provide ownership statement to the investor’s securities in the issuing company
6. Provide movement certificate of the securities kept at HC to the Investor
7. Other related custodial services to facilitate client needs