Article 36 Statements, Transfers, Transmission and Registers
The issuer shall agree:
36.1 To allot securities within 7 calendar days of the final applications closing date for an issue of securities, and to dispatch statements within 7 calendar days of the date of allotment, or within such period as may be prescribed by the Agency.
36.2 To dispatch within 4 working days after the day of lodgment of a registrable transfer of securities of the issuer, a statement in respect of such securities and a balance statement for any remainder.
36.3 Notwithstanding Article 33 (New Issues) above, upon declaration of a disaster by the Agency and the subsequent lodging of a report of the statements lost or destroyed, together with a letter of indemnity by the Clearing House to replace the said lost or destroyed statements and to dispatch them within 7 working days from the date of lodgment, or a longer period as determined by the Agency. In this section "Disaster" means a situation arising from destruction or loss of statements in the possession of the Clearing House and such a situation shall be considered as a disaster, as declared by the Agency.
36.4 When so requested by the transferee at the time of lodging the registrable transfer of securities of the issuer, to dispatch the statement in respect of those securities to the lodging broker.
36.5 Not to refuse to register or fail to register, and to give effect to any transfer in registrable form of a fully paid security issued by the listed issuer except:
(a) the registration of the transfer would result in a contravention of, or failure to observe the provisions of the law in the Kingdom of Bahrain, or result in non-compliance with the rules and restrictions of the issuer's Memorandum and Articles of Association.
(b) the transfer is in respect of a partly paid security, in respect of which a call has been made and is unpaid.
36.6 If in the exercise of its rights under Article 36.5 (a) above, the issuer refuses to register a transfer of a security, it shall give to the lodging broker and the transferee written notice of the refusal and the precise reasons therefore within 7 working days after the date on which the transfer was lodged with the issuer.
36.7 To register transfers, split statements, issue statements and mark or note transfers and where any fee is charged, such fee should not exceed the amount that shall, from time-to-time, be approved by the Agency for each statement issued.
36.8 When so requested by the transferee at the time of lodgment of registrable transfers of securities of the issuer, to issue statements in requested denominations.
36.9 To endorse (where necessary) transfer forms with the notation "power of attorney exhibited" or "probate exhibited" on production of the proper documents, and to do so without charge.
36.10 To split statements within 4 working days of receipt, or to certify transfers within 2 working days upon lodging the relevant statements.
36.11 To accept for registration, transfers of the issuer's Transfer Forms securities, executed on a standard form of transfer approved by the Agency, or on such other form as may be approved by the Agency.
36.12 To design proxy forms in a manner which will allow a shareholder of an issuer appointing a proxy, to indicate how he would like his proxy to vote in relation to each resolution.
36.13 To give to the Agency upon inquiry an extract of the share register, showing full details on or between the named date or dates of all entries relating to the registration of shares entered or deleted under any particular name, and the relevant statement numbers and the names into which, or from which any particular stock or shares may have been transferred.
36.14 In the case of multiple listing, to permit securities of the issuer to be transferred from one register to another without restriction.
36.15 In the case of share splits carried out by the issuer, the issuer shall issue without charge, statements in denominations requested by the shareholders, up to a maximum of 5 statements per shareholder.
36.16 To inform the Agency as and when a report is lodged with the issuer, or the issuer's registrar on any loss of statements, giving all the information prescribed by the form set out by the Agency.
36.17 To inform the Agency immediately the issuer is notified of any forgery in the statements of the company by the issuer's registrar.
36.18 The issuer upon request by the Agency must ensure that its transfer agent submit a report by an independent accountant that studies and evaluates the transfer agent's internal controls.
36.19 To provide the Agency upon request, with an auditor's certificate to the effect that the processing of transfers and the issue of statements is in accordance with the Agency's law.