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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