What is a Global Depositary Receipt (GDR)?

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

Globaltrans Investment PLC GDRs are considered a Single-Listed Depositary Receipt[1] which is a depositary receipt (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

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

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).

 

Globaltrans has 144 A both Regulation S programmes - can I transfer between them?

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

 

What types of companies issue GDRs?

GDR 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.

 

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

DR Symbol

GLTR

CUSIP

37949E204

DR Exchange

London Stock Exchange

DR ISIN

US37949E2046

Ratio

1:1

Depositary

The Bank of New York Mellon

Effective Date

7 May 2008

Local Exchange

Not Traded

Underlying ISIN

CY0101942213

Underlying SEDOL

B2QTGT5

Country of Operations

Russia

Country of Incorporation

Cyprus

Industry

Industrial Transport

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

Information on the Globaltrans Investment PLC GDR programme can be obtained on Bank of New York Mellon’s website www.adrbnymellon.com. Additional questions can be directed to Bank of New York Mellon’s DR division at +1 212 815 4158.

 

 

Who is the depositary bank for Globaltrans Investment PLC GDRs? What is its role?

The Bank of New York Mellon acts as depositary bank for Globaltrans Investment PLC sponsored GDR programme. 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. Bank of New York Mellon is a Depository Trust Company (DTC) participant as are brokers and dealers, other banks, trust companies and clearing houses. For additional general information, please visit Bank of New York 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.

 

How can I buy Globaltrans Investment PLC GDRs?

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

 

What is the Depositary Receipt 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.

 

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@bnymellon.com or call +1 212 815 2037.

 

How are dividends paid and taxed?

Globaltrans Investment PLC has historically paid cash dividends. 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 additional information on dividend payments for DR holders, please contact +1 212 815 4158 or DRInvestor@bnymellon.com. For Globaltrans’ dividend policy, please click here.

 

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.

 

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 Bank of New York Mellon as depositary, as instructed by Globaltrans Investment PLC.

 

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 packages to all GDR holders listed in Bank of New York Mellon 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.

 

Do GDR holders obtain shareholder meetings materials directly from The Bank of New York Mellon?

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

 

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

GDR holders can contact Bank of New York Mellon at:

 

Last updated: 07.05.2020