Journey from certificated shares to electronic shares |27 March 2017
Do you have certificated shares of a company listed on the Seychelles Securities Exchange (“Trop-X”) which you would like to sell? Perhaps they are an inheritance and you would prefer the cash or maybe you have held the shares for many years and judge the time is now right to offload the stock. Note your share certificates could represent profits but only on paper! So, how do you dematerialise your certificates to trade on Trop-X?
What is dematerialisation?
Dematerialisation or demat in short, is the process of converting the physical form of share certificates and retaining ownership of those shares in electronic mode on an electronic share register in a depository.
Holding your shares in a demat form is not compulsory but in order to trade shares on a securities exchange, including Trop-X, shares need to be held in a dematerialised format for transfer and delivery. Other than enabling you to trade your share on a Trop-X, holding shares in a dematerialised format also means that you can avoid the risk of losing your physical share certificate or someone forging a transfer or faking your physical certificate. Other advantages to demat are easier monitoring of your portfolio of assets and quicker updates of any changes in your address or contact details which can be done through your broker to the depository instead of you having to write to every company in which you hold shares.
How do I dematerialise my shares?
What if I do not have a stock broker?
Trop-X currently has two broker members – Constant Capital (Seychelles) Limited and Direct Markets Africa (Seychelles) Limited – with both offices located on the first floor of Eden Plaza at Eden Island. Once a broker has been appointed you can open a trading account and start trading!
Useful Contact information:
Constant Capital (Seychelles) Ltd
F28-29 First Floor Eden Plaza
Eden Island
Mahé
Republic of Seychelles
Tel 4346820
Email: daron@constant.sc
Direct Markets Africa
F19 First Floor Eden Plaza
Eden Island
Mahé
Seychelles
Tel: 4346770
Email: info@directmarketsafrica.com
For more information please visit our website on www.trop-x.com
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