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Why are they called Depository Receipts and not Shares?
Triodos Bank is a values driven pioneering bank, in terms of our mission and what we do. To help you understand our protection of the values better, this is a brief explanation of the Bank’s ownership structure.
Triodos Bank believes that it is crucial that its mission and independence is protected. So all the Bank’s ordinary shares (‘Shares’) are held in a special trust called the Foundation for the Administration of Triodos Bank Shares, or SAAT to use its Dutch abbreviation.
Depository Receipts represent shares in Triodos Bank. SAAT issues these Depository Receipts for Triodos Bank Shares to the public and institutions. If you choose to invest you will own Depository Receipts representing Shares issued by SAAT.
As well as issuing them, SAAT exercises all of the voting rights for Triodos Bank Shares. Triodos Bank Depository Receipts are not listed on any stock exchange.
Depository Receipts give you voting rights in the Meeting of Depository Receipts Holders. Depository Receipts do not give you any voting rights in the Annual General Meeting of shareholders but they do give you the rights to receive dividend payments subject to the performance of the bank.
More from the same category of FAQs:
- I have submitted my declaration and now have an application form, what do I do next?
- How will I know when my Depository Receipts have been allocated?
- Can I apply if I live outside the UK?
- Can I apply for Depository Receipts online?
- How do I buy more Depository Receipts?