Dematerialised Shares definition
Examples of Dematerialised Shares in a sentence
Ordinary shares may only be traded on the JSE in electronic form (Dematerialised Shares) and will be trading for electronic settlement in terms of STRATE immediately following the Listing.
Each applicant’s duly appointed CSDP or broker will receive the Dematerialised Shares on its behalf against payment of the Offer Price by the applicant’s CSDP, which is expected to occur on Monday, 4 October 2004 during the STRATE settlement runs.
All shareholders who elect to convert their Dematerialised Shares into Certificated Shares will have to dematerialise their Lewis shares should they wish to trade them under the terms of STRATE (see paragraph 65 headed “STRATE” beginning on page 59 of this Prospectus).
Accordingly, all successful applicants must appoint a CSDP, directly or through a broker, to receive and hold the Dematerialised Shares on their behalf.