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Registered Shares |
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Registered shares are shares with recorded owner's. Where as, bearer shares, in contrast, do not register the owner's name. The respective bearer share is regarded as the company's shareholder. A share register must be kept while issuing registered shares. The share register electronically stocks the statutory data. It records the name, address and date of birth of the respective shareholders. In the event of a legal entity the company, business address and headquarters – and in some cases it also records the number of shares held by the shareholder.
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Only those registered in the share register are considered shareholders by the company. The personal data of shareholders in Registered Shares is confidential and is not passed on to any unauthorised person or party, and not to any other shareholder in particular.
Shareholders do not have to have their names registered in the share register. Shareholders wanting to be anonymous can, for instance, authorise their bank or any other third party to be admitted to the share register in their place. If this alternative is used, the shareholders can reserve the right to give instructions to the third party registered in the share register with the help of corresponding agreements. However, only the third party registered in the share register is regarded as the shareholder by the listed company. One of the benefits offered by registered shares is to allow for better direct contact between the shareholders and the the stock corporation.
They also enable TUI AG, for example, to provide its shareholders with direct information about the company, and focus their contacts with investors better. They also send the letter of invitation and other documents straight to the shareholders or receive instructions for votes in the run-up of the Annual General Meeting. The conversion to registered shares will also make it gentle for TUI AG to prove that the majority of its shares are held by EU nationals. This evidence is required to get the operating licenses for the airlines associated with the Group under air traffic regulations.
The conversion to registered shares accepts that a share register is being kept in which the share holders are entered, giving their name that is, first name, address, date of birth and – in the case of a legal entity: the name of the company, registered office and business address as well as the number of TUI shares held. Entry in the share register is important for the shareholders because only the person registered as a shareholder in the Company's share register is recognised as a shareholder by the Company and is thus entitled to take part in and to cast a vote at the Annual General Meeting.
Registered shares can be bought or sold at the stock exchange. You can give your bank the right to buy or sell shares. In that case, your bank will take care of all the transactions required.
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