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Conversion of DEPA shares trading to AED from 18th March 2018
Further to NASDAQ Dubai announcement made by Depa Limited relating to the conversion of the trading currency of DEPA shares to UAE Dirham (AED), please note the below technical changes to the trading and clearing systems:
Trading System
| Symbol | The trading symbol will remain the same (DEPA) |
| Currency of trading | The currency for trading of DEPA shares will be AED |
| Tick Size | 0 to 1 AED – 0.001 1 to 10 AED – 0.01 10 AED and above – 0.05 |
| Trading days | Sunday to Thursday, with T+2 settlement cycle. |
| Price Safeguard | 15 % up and 10% down |
| Reference price on 1st trading day after conversion | Previous Close Price X 3.674 (Note that this price is used to establish price thresholds for trading) |
| Treatment of pending orders | Any pending orders as at close of trading on 15th March 2018 will be removed from order book. |
Note that there will be no Trading Halt in Depa shares trading. Trading and clearing of all trades in US dollars executed before 18th March will follow procedures applicable to Trading and Clearing in US dollars.
Clearing and Settlement System
| Settlement Day | Sunday to Thursday, with T+2 settlement cycle. (Trading and Settlement Calendar will be published before conversion is effective) |
| Clearing and Settlement currency | AED |
| Settlement cap | USD or AED |
Fees and Penalties
Fees and penalties levied on transactions will remain unchanged as far as practical with relevant rounding of fee amounts. Some of the key transaction fees after conversion are as below:
| Fees Type | Description | Fee percentage |
|---|---|---|
| Broker Fees | Brokerage Fees | 0.0013 of traded valued or AED 30 whichever is higher |
| Trading Fees | Market fees | 0.0005 of traded value or AED 20 whichever is higher |
| Clearing and Settlement fees | 0.0005 of traded value or AED 10 whichever is higher | |
| Order fees | AED 10 | |
| Buy-in | Market fees | 0.0005 of traded value or AED 20 whichever is higher |
| CSD fees | 0.0005 of traded value or AED 10 whichever is higher | |
| Penalties for late settlements | S+2 day reversal | 0.0025 of traded value or AED 2500 whichever is higher |
| Irrevocable reversal (S day to S+2 day) |
0.0005 of settlement value or AED 367 of the order whichever is higher |
Regards,
Emirates NBD Securities LLC
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