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Pledgee
Securities Pledge recording and pledge release: ADX provides the services for the Pledgee entities to apply for these services from the Clearing, Settlement & Depositing Department. Where an investor holding ADX’ listed securities pledges them (partially or fully) as a security against a loan provided by the Pledgee. This is all in accordance with the relevant agreement between the Pledgee and the investor. Subsequently, the pledged securities can be adjusted or released.
How to become a Pledgee
Formal letter from the Pledgee requesting ADX to register them as pledgee member.
List of authorized personnel for the pledge transactions, containing (names, category and signature specimen).
Supporting documents of the Pledgee [Certificate of Incorporation / Share Certificate / Membership Registration, Others].
A copy of the Memorandum Of Article Of Association for the Pledgee.
No objection letter from the pledgee that allow ADX to transfer cash dividends distribution without any legal responsibility on ADX even in the cases of closing or freezing or blocking the account onto the deposited funds along with IBAN letter from the Bank.