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GDR FAQs

What is a Global Depositary Receipt?

Global Depositary Receipts are negotiable securities representing contractual interests and rights relating to the company’s shares.

Globaltrans Investment PLC GDRs are considered a single listed global depositary receipt. A Single-Listed Depositary Receipt[1]  is a DR whose underlying share is not publicly traded in the issuer's home market. The DR is listed and traded only in the DR market, and cancellation will not result in delivery of a locally listed ordinary share. Globaltrans’ GDRs are publicly traded on the London Stock Exchange.

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What are the benefits of GDRs to investors?

The advantages of GDRs to investors may include:

  • Quotation in U.S. dollars and payment of dividends and other cash distributions in U.S. dollars.
  • Diversification without many of the obstacles that mutual funds, pension funds and other institutions may have in purchasing and holding securities outside of their local market.
  • Elimination of separate global custodian safekeeping charges.
  • Familiar trade, clearance and settlement procedures.
  • Ability to acquire the underlying shares of Globaltrans Investment PLC directly upon cancellation. (Note: as a Single Listed Depositary Receipt, the underlying share for Globaltrans Investment PLC does not have a locally listed share.)

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Globaltrans has 144 A / Regulation S Programs. Can I transfer between 144 A and Regulation S?

Generally, GDR Holders can transfer between 144 A and Regulation S, after the distribution compliance period also known as the “seasoning period” for the Regulation S security has expired.  For information on the process and general requirements please contact drsettlements(at)remove-this.bnymellon.com or +1 212 815 2037.

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What types of companies issue GDRs?

GDRs issuers are typically large multinational corporations and may include, among others, any non-U.S. company seeking to engage the global market to diversify its investor base, raise capital or offer employee stock purchase plans.

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Is it easy to get information and updates on Globaltrans Investment PLC?

Globaltrans Investment PLC provides extensive information about itself in English on its website. Selected information is also available on the website of its depositary bank, BNY Mellon Depositary Receipts Division. Globaltrans Investment PLC is also tracked by many of the main U.S. and European financial websites.

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Where are Globaltrans Investment PLC GDRs traded and under what ticker?

DR SymbolGLTR
CUSIP 37949E204
DR ExchangeLondon Stock Exchange
DR ISINUS37949E2046
Ratio 1:1
Depositary BK (Sponsored)
Effective DateMay 07, 2008
Local ExchangeNot Traded
Underlying ISINCY0101942213
Underlying SEDOLB2QTGT5
Country of OperationsRussia
Country of IncorporationCyprus
IndustryIndustrial Transport

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Where can I get information about Globaltrans Investment PLC GDR program?

DR investors can obtain information on the Globaltrans Investment PLC GDR program on BNY Mellon’s website www.adrbnymellon.com.  Additional questions can be directed to BNY Mellon’s DR division at +1 212 816 2867.

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Who is the depositary bank for Globaltrans Investment PLC GDRs?

The Bank of New York Mellon acts as depositary bank for Globaltrans Investment PLC sponsored GDR program. The depositary bank plays a key role in the process of issuance and cancellation of GDRs. It also maintains the GDR holder register and distributes the dividends in U.S. dollars. BNY Mellon is a DTC (Depository Trust Company) participant as are brokers and dealers, other banks, trust companies and clearinghouses. For additional general information, please visit BNY  Mellon's website at www.adrbnymellon.com and search for Globaltrans Investment PLC’s Profile Page. Those owning Globaltrans Investment PLC GDRs through a bank, broker or nominee in “street name” should direct questions about their holdings to their respective bank, broker or nominee representative.

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How can I buy Globaltrans Investment PLC GDRs?

Investors can always purchase GDRs through their own full-service, discount, and on-line brokerage firms.

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What is the DR Issuance Process?

Depositary Receipts are issued or created when investors decide to invest in a non-U.S. company and contact their brokers to make a purchase. These brokers, through their international offices or through a local broker in the company's home market, purchase the underlying ordinary shares and request that the shares be delivered to the depositary bank's custodian in that country. The broker who initiated the transaction will convert the U.S. dollars received from the investor into the corresponding foreign currency and pay the local broker for the shares purchased. On the same day that the shares are delivered to the custodian bank, the custodian notifies the depositary bank. After notification, Depositary Receipts are issued and delivered to the initiating broker, who then delivers the Depositary Receipts evidencing the shares to the investor. Your broker can also obtain Depositary Receipts by purchasing existing Depositary Receipts, which is not a new issuance. 

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How can I cancel or issue Globaltrans Investment PLC GDRs?

Your broker will assist you with issuances and cancellations of GDRs.  For additional information, brokers and investors can contact drsettlements(at)remove-this.bnymellon.com or call +1 212 815 2867.

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How are dividends paid and taxed?

Globaltrans Investment PLC has historically paid an annual cash dividend. Any cash dividends paid to GDR holders on behalf of Globaltrans Investment PLC will be paid in U.S. dollars and are generally taxable, just like dividends on U.S. shares. Further, cash dividends paid by Globaltrans Investment PLC are subject to 0% withholding tax under Cypriot law.  For Globaltrans’ dividend policy please click here.  For additional information on dividend payments for DR holders please contact +1 212 815 2893 or DRInvestor(at)remove-this.bnymellon.com.

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My shares are held through a nominee. How will I get my dividend?

If your GDRs are held through Euroclear or Clearstream you will be credited by your bank or broker nominee holder. The Depositary makes payment to DTC, Euroclear and Clearstream which in turn credit each of their participants who subsequently remit the dividend to the beneficial owner.

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Do GDR Holders have the right to vote and participate in Globaltrans Investment PLC shareholder meetings?

Holders of GDRs have voting rights with respect to their shares deposited with BNY Mellon as depositary, as instructed by Globaltrans Investment PLC.

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How can GDR Holders obtain information about Globaltrans Investment PLC shareholder meetings?

Globaltrans notifies the Depositary about the upcoming Annual General Meeting or Extraordinary General Meeting, requests distribution and solicitation, and provides copies of the Notice of the Meeting and Agenda along with any other materials the Company would like their GDR investors to review, such as Shareholders Letter, Explanatory Notes, Financial Statement, etc. The Depositary then sets the record date, prepares the voting proxy card, and distributes proxy package to all GDR holders listed in BNY Mellon’s books on the record date, including European clearing houses Euroclear/Clearstream. Investors should receive relevant information either from Euroclear/Clearstream or through their broker dealers.

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Do GDR Holders obtain shareholder meetings materials directly from BNY Mellon?

Only registered GDR Holders (those holding their GDRs directly on the books of BNY Mellon) will receive meetings materials directly from BNY Mellon.  All beneficial holders will receive materials through their brokers.

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Where can I receive more information about the voting procedures for DR holders?

GDR Holders can contact BNY Mellon at  

            Telephone: +1 212 815 2867 or +1 212 815 5021

            E-mail: mira.daskal(at)remove-this.bnymellon.com

 

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[1] "Single Listed DRs", BNYM DR Glossary, www.adrbnymellon.com/dr_edu_glossary.jsp

Last updated: 10.03.2017