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Shareholder FAQs

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Frequently Asked Questions (by investors)

Answers should be easy to find. Browse our top investor related questions below, if you still can’t find what you are looking for, contact us by the method most convenient for you.

You can view and access the annual reports under the Shareholder Centre section of  the Bank’s website, www.nbdominica.com. Alternatively, you can collect a hard copy of the annual report at any branch of the Bank. Hard copies of annual reports are sent to all shareholders who have not selected to receive annual report electronically at their last known address.

NBD complies with the Electronic Transaction Act No.19 of 2013. If you wish to receive your annual reports and other meeting material electronically, you may complete and notarise the Shareholder Communication Preference Form, which can be found on NBD’s website and mail the completed form to:
Corporate Secretary
National Bank of Dominica Ltd.
64 Hillsborough Street
Roseau, Dominica.

Alternatively, you can complete and execute the preference form in the presence of the Corporate Secretary or any other Bank representative.

You are encouraged to select this option to receive all shareholders’ communications from NBD via email. Electronic shareholder communication offers considerable benefits for both shareholders and NBD – shareholders will receive prompt information via convenient and secure electronic delivery, documents will not get delayed or lost in the post or read by others – NBD will realise cost savings while engaging in environmentally friendly practices. Examples of company information that can be sent to you electronically include annual reports, notices of Annual General Meetings (AGM) and shareholders fora/trainings, financial statements and shareholder education circulars.

You will receive written notice prior to the AGM or special meeting. You will be provided with details of any shareholder events through the media and under the Shareholder Centre on the Bank’s website.

If you cannot attend the annual general meeting or general meeting, you can appoint a proxy to attend. Your proxy can attend, participate, vote on your behalf and bring your concerns to the Board of Directors. Before the meeting, you will need to complete and notarise the Proxy form and return the completed form to the attention of the Corporate Secretary by mail or depositing it at any branch of the Bank two (2) days before the scheduled meeting.

The proxy form is included in your annual general meeting package along with the meeting Notice. Alternatively, you can download the proxy form from the Bank’s website, complete, notarise and return it to the attention of the Corporate Secretary and/or deposit it at any branch of the Bank.

Once declared by the Board, dividends are paid on the same date the Annual General Meeting is held. To receive a dividend payment, your name must be on the shareholders’ list when the Board passes the resolution to pay dividend (record date).

You can have your dividend paid:

i. directly to your bank account at NBD
ii. to your account at a financial institution of your choice in Dominica
iii. by cheque
iv. by wire transfer (processing fee payable)
v. by cheque in a currency of your choice (processing fee payable)

You are encouraged to have your dividend be paid directly to an account at NBD for the following benefits:

i. your dividend reaches your account on the payment date and you will have access to your dividend for immediate use
ii. it is more secure (cheques could get lost in the post)
iii. no more trips to bank
iv. no delay in delivery of a cheque

Dividend is paid in Eastern Caribbean dollars. You can choose to convert your dividend to another currency but must state so when completing the Registry Account Maintenance https://www.ecseonline.com/documents/forms/registry/ form. Please note that a processing fee will be deducted from each dividend payment before converting it into your chosen currency.

You should contact the Corporate Secretary at email address: corporatesecretary@nbd.dm and request an inquiry be done.

Dividend cheques are valid for six months from the date of issue.   If your cheque is out of date, you must contact and return the cheque to the Corporate Secretary to have it reissued.

If you have already informed the Bank that the payment is missing or outstanding and a cheque was re-issued for the amount, the original cheque is now invalid as the Bank would have placed a “stop order” on the cheque. You should destroy the original cheque.

If you have not reported the cheque as missing or outstanding and it is still within the expiry period of six months, then you should take the cheque to your bank of choice to cash.

Unclaimed dividends accumulate, but they do not earn interest. After fifteen (15) years you will no longer be entitled to claim a dividend payment If you have not collected your dividend payment after 15 years you will be notified, and your name and address will be published in various media. If no claim is made within thirty (30) days from the date of this notice, such unclaimed dividends will be paid to the Eastern Caribbean Central Bank (ECCB) and NBD shall cease therefrom to be liable thereof. Therefore, you are encouraged to select an account at the Bank to credit your dividend to.

You need to consult and speak to your financial advisor.

You are entitled to dividends once declared, to attend, participate and vote at the annual general meetings of shareholders or other special meetings, to appoint a proxy, to receive financial information or other information on the company including annual report, to elect directors to the board of directors and to elect external auditors.

NBD is not a publicly traded company, therefore the price per share is determined between the buyer and seller.

You should refer to your annual shareholding statements sent by ECSE. Alternatively, you can contact the Office of the Corporate Secretary to get that information.

You should contact the Office of the Corporate Secretary to make an appointment to view the shareholders’ list.

NBD’s shares/securities are not listed on the Eastern Caribbean Security Exchange.

NBD does not charge fees to shareholders. You only pay processing fees to ESCE in relation to share transactions.

To change your personal details, you need to complete the Registry Account Maintenance https://www.ecseonline.com/documents/forms/registry/
form and submit the completed form along with a government- issued picture ID(s).

The documents must be notarized by an Attorney or completed in the presence of the Corporate Secretary or senior official of the Bank.

To donate your shares to a family member, registry charity or any company of your choice, you must complete the Donation Transfer https://www.ecseonline.com/documents/forms/registry/ form and submit along with:

  • evidence of family relationship or documents for the registered Charity or company of your choice.
  • a copy of a government-issued picture ID(s) of the shareholder(s) and donee(s)
  • a bank draft of XCD$20.00 in the name of Eastern Caribbean Central Securities Registry Ltd for processing at ECCSR.

The documents must be notarized by an Attorney or completed in the presence of the Corporate Secretary or senior official of the Bank.

If a shareholder dies, his or her executor/executrix or administrator(s) of the deceased estate should contact the Corporate Secretary to make an appointment to have the shares transferred to the beneficiary (ies).

If the shares were held only in the name of the deceased shareholder, the executor/executrix or administrator will need to complete the Death Registration Request https://www.ecseonline.com/documents/forms/registry/
form and submit the following:

•Grant of Probate/a copy of the Will (if there is a Will)
• Letters of Administration (if there is no Will)
• death certificate of the deceased
• government- issued picture ID(s) of the beneficiary(ies), executor/executrix or administrator(s)
• a bank draft of XCD$20.00 in the name of Eastern Caribbean Central Securities Registry Ltd for processing at ECCSR.
Notes
• If the beneficiary is a minor, a notarized letter designating the minor’s custodian must also be sent to the bank.
• The Transfer on Death Registration Request form must be signed by both the Administrator(s)/ Executor(s)/Executrix (es) and Beneficiary (ies).

If the shares were held in joint names, the surviving shareholder will need to complete the Notice of Death of Joint Holder of Securities form https://www.ecseonline.com/documents/forms/registry/
and submit the following to remove the deceased name:

  • a copy of government-issued picture ID of the surviving shareholder.
  • a copy of death certificate of the deceased

The documents must be notarized by an Attorney or completed in the presence of the Corporate Secretary or senior official of the Bank.

You can sell all or a portion of your shares by private transfer. NBD is not a publicly traded company; therefore, shares are presently traded between private individuals or companies who negotiate the terms and conditions of the sale and purchase of shares.

Sale involving Individuals.

For sale of shares between individuals, existing shareholders must complete the Private Transfer https://www.ecseonline.com/documents/forms/registry/
form and submit the completed form along with:

  • copies of the existing and new shareholder(s) government- issued picture IDs
  • a bank draft for processing at ECCSR (see below fee structure based on the number of shares to be transferred.

Selling Institution

Institutional shareholders must complete the Private Transfer https://www.ecseonline.com/documents/forms/registry/ form and submit the completed form along with:

  • the name(s) and signature(s) of the authorized officer or officers of the company, typically in the form of a company Board resolution.
  • a certified copy of the individual(s)/Officer(s) government- issued picture ID(s)
  • a copy of the Company’s By-Laws or resolution of the Board of Directors authorizing the transfer and naming the persons and their official positions authorized to make the transfer on behalf of the Company.
  • a manager’s cheque representing the processing fees for the transfer and made out to the Eastern Caribbean Securities Registry Ltd
  • affix the seal of the Company to the Transfer form, and if no seal exists include a letter on the Company’s letterhead which states that no seal exists.
  • the completed Transfer Form must be stamped or certified by the Inland Revenue Department that all taxes on the dividend are paid.

Buying Institution

Institutional shareholders must complete the Private Transfer https://www.ecseonline.com/documents/forms/registry/ form and submit the completed form along with:

  • Certificate of the Company’s Incorporation
  • Articles of Incorporation and or Certificate of Continuity
  • Certificate of Incumbency/Notice of the Directors of the Company; certified by the Companies’ Registry in Dominica and naming the current directors of the Company
  • the company’s authorised officer(s) name and signature(s) on the company’s letterhead
  • a manager’s cheque representing the processing fees for the transfer and made out to the Eastern Caribbean Securities Registry Ltd
  • affix the seal of the Company to the Transfer form, and if no seal exists include a letter on the Company’s letterhead which states that no seal exists.

The fees payable for the Private Transfer are:

The documents must be notarized by an Attorney or completed in the presence of the Corporate Secretary or senior official of the Bank.

You can add or remove an individual to or from your shareholding account. To do so, you need to complete and submit the Application for Addition/Removal of Securities holder(s) https://www.ecseonline.com/documents/forms/registry/ form and:

  • delete the word ‘Addition/ Removal’ in the Title of the Form depending on the circumstance.
  • submit a copy of a government-issued picture ID(s) of the individual(s) to be added or removed and the existing shareholder(s)
  • submit a bank draft of XCD25.00 in the name of Eastern Caribbean Central Securities Registry Ltd for each addition or removal for processing at ECCSR.
  • the form must be signed by both the existing shareholder(s) and shareholder(s) to be added.

The documents must be notarized by an Attorney or completed in the presence of the Corporate Secretary or senior official of the Bank.

If you have changed your name, then you will need to complete the Registry Account Maintenance https://www.ecseonline.com/documents/forms/registry/ form and submit the completed form along with:

  • supporting documentation or evidence of name change such as a marriage certificate, change of name deed or deed poll, birth certificate or divorce decree in the original form or notarized.
  • a copy of a government-issued picture ID of the shareholder. This ID must be notarized by an Attorney or certified by the Company Secretary or senior official of the Bank.

The documents must be notarized by an Attorney or completed in the presence of the Company Secretary or senior official of the Bank.

If you have several single shareholding accounts, and you wish to consolidate/combine these into one single account, you need to complete and submit the Consolidation of ECCSD Account Numbers https://www.ecseonline.com/documents/forms/registry/ form with a copy of a government-issued picture ID of the shareholder. This ID must be notarized by an Attorney or certified by the Corporate Secretary or senior official of the Bank.

You will not be able to advertise your shares in the media. To advertise your NBD shares for sale in the media, you must hold a license by the Eastern Caribbean Securities Regulatory Commission (Commission) or must be authorised by the Commission to do so. If you wish to advertise your shares you must contact a licensed broker to assist you with the sale.

For shareholders’ queries, you should contact the Corporate Secretary at email address:  corporatesecretary@nbd.dm or direct extension: 767-255-2320.

You can find your registry account number on your annual statement sent by ECSE.  This is an 18-digit unique code. Alternatively, you can contact the Corporate Secretary to get that information.

The Bank no longer issues share certificates. Eastern Caribbean Security Exchange (ECSE), the company that maintains the Banks shareholding accounts sends annual statements to all shareholders.

The Bank’s share register is managed and maintained by Eastern Caribbean Security Exchange (ECSE).  ECSE contact details are:

Address: Bird Rock, Basseterre, St. Kitts
Phone: 1-869-466-7192
Email: info@ecseonline.com
Website: www.ecseonline.com

ECSE is the Bank’s Registrar. This company is responsible for maintaining and keeping the shareholding accounts up to date. This company is located in Basseterre, St. Kitts.  More information on the ECSE can be obtained on their website, https://www.ecseonline.com/.

767.255.2300

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