Service Price Tariff of Central Depository AD
Effective from 31 January 2011
(All Prices in BGN)
Abbreviation
CA – Corporate Actions
CDAD – Central depository AD
CI – Compensatory Instruments
FI – Financial Instruments
GF – Guarantee Fund
II – Investment Intermediary
LPOS – Law on Public Offering of Securities
IC – Investment Companies
I. Membership fees
CDAD`s members pay affiliation fee for membership and successive annual fees for keeping the status of participants to the system. Fees cover costs related to retention of a participants` status and incorporate access maintenance of the members to CDAD`s information system.
Affiliation fee for membership is paid in the year of accession to membership. Annual membership fees are paid thereafter.
Fees are not subject to VAT.
1. Affiliation fee for membership
BGN1.1. For Banks / 1500,00
1.2. For Stock Exchange / Regulated Market / 2000,00
1.3. For Registration Agent / 800,00
1.4. For Investment Intermediaries, Managing Companies,Investment Companies / 550,00
2. Annual Membership Fees
Заплаща се на 4 равни тримесечни вноски, до 5-то число на първия месец от съответното тримесечие.
Annual membership fees shall be paid in 4 equal quarterly installments within the first five days of the first month of the respective quarter.
BGN
Annual Fees / Quarterly Fees2.1.Annual fee for CDAD`s membership / 1200,00 / 300,00
2.2.Annual fee for Registration Agents / 450,00 / 112,50
3. Contributions to the Guarantee Fund (GF) maintained by CDAD
In accordance with art.132 of the LPOS, CDAD`s members shall pay to the GFan affiliation fee and successive annual fees. Affiliation fee is paid in the year of accession to membership within a month following the decision taken by the Board of Directors. Annual fees are due as of the next calendar year (following the year of accession to membership) and are paid bythe endof January.
BGN3.1. Affiliation fee to GF / 200,00
3.2. Annual fees to GF / 60,00
II. Services for legal entities having registered book-entry (dematerialized) financial instruments in CDAD`s system – shares, bonds and etc.
4. Initial registration of securities issue
Initial registration of securities includes:
- Verification of the submitted documents for initial registration: substantive check-up for template completeness and compliance with the CDAD`s Rules and Regulations, verification of the submitted data with the Commercial Registerrecords and consistency check with the information in the CDAD`ssystem;
- Company’s data entry into the Register;
- Verification and registration of the issue details;
- Opening an issue initial account and registration of all FI therein;
- Registration of all FI holders along with their identity data;
- In case holders of the newly registered FIs are previously registered as holders of other FI, their personal data is to be compared for identity.
- Preclusion of detected errors and discrepancies;
- Opening of individual account for each securitiesholders;
- Transfer of the respective number of securities from the issue account to the holders’ accounts;
- FI registration reporting.
Total amount due is calculated as a sum consisting of two components: fixed and additional:
BGNFixed component / additional payment for account maintenance / In total not more than
Fee for the registration of shares / 750,00 / 1,00 per account / 50 000,00
Fee for the registration of rights / 750,00 / 1,00 per account / 5 000,00
Fee for the registration of warrants / 750,00 / 1,00 per account / 5 000,00
Fee for the registration of bonds / 1500.00 / 1,00 per account / 5 000,00
Example:
Registration of rights in 73000 accounts at the time of the registration. Amount due equals to the sum of the fixed component for the registration of rights - BGN 750 + additional component (payment for maintenance) of 73000 accounts. As the maximum amount due is fixed at BGN 5000, hence the issuer should pay for the registration BGN 5000.
4.1Express (prompt) registration:
For 1 business day / 8 working hours / 150% of the fee under p. 4Within 3 business day / 24 working hours / 125% of the fee under p. 4
Not applicable to bond issues. Latter are registered under art. 7.5 of Annex 2 of the Rules and Regulations of CDAD within 1 business day.
5.Monthly fee for safekeeping and maintenance of issue details.
It includes maintenance of the issue general account, covering the actual issue characteristics, issuer records, including actual data as listed in the Commercial register and keeping the relevant correspondence related to the corporate actions servicing.
Total amount due is calculated as a sum consisting of two components: fixed component + additional component (payment for account maintenance, i.e.the respective number of the accounts maintained).
The fee is calculatedat the end of the last business day of each month, on the basis of the number of the accounts maintained by CDAD.
Fixed component amount: BGN 50,00
Компонента за брой сметкиNumber of accounts / Ddditional fee calculation
Min / Max / Min Value of Additional Fee / Max Value of Additional Fee / BGN / per each / For the difference above
1 / 500 / 0.01 / 2.50 / 0.15 / 30 / *
501 / 1 000 / 2.50 / 4.00 / 0.15 / 50 / 500
1 001 / 2 000 / 4.00 / 6.73 / 0.15 / 55 / 1 000
2 001 / 5 000 / 6.73 / 14.23 / 0.15 / 60 / 2 000
5 001 / 10 000 / 14.23 / 25.77 / 0.15 / 65 / 5 000
10 001 / 15 000 / 25.77 / 36.48 / 0.15 / 70 / 10 000
15 001 / 30 000 / 36.48 / 66.48 / 0.15 / 75 / 15 000
30 001 / 60 000 / 66.48 / 111.48 / 0.15 / 100 / 30 000
60 001 / 100 000 / 111.48 / 131.48 / 0.15 / 300 / 60 000
100 001 / 131.48 / 0.15 / 500 / 100 000
Example:
Number of accounts: 2859, hence issue falls within the group “min 2001, max 5000”
Fee = 50 + (6.73 +((2859-2000) / 60)*0.15) = 58,88, wherefrom BGN 50,00 is the fixed component and BGN 8,88 is the additional component for the number of accounts.
6. Provision of Register of shareholders / bondholders, holders of mutual funds` shares, holders of warrants, as of a fixed date.
Fee amount is determined by the number of the shareholders and the media.
6.1. Fee amount definition for number of shareholders
Number of shareholders / Up to 1000 / 1001 - 5000 / 5001 - 15000 / 15001 - 30000 / 30001 - 100000 / Over 100000Fee (BGN) / 15,00 / 20,00 / 25,00 / 30,00 / 35,00 / 45,00
6.2. Fee amount definition depending on the media
Hard copy (size A4) – BGN 0.05 per sheet
Hard copy (size 380/12) – BGN 0.08 per sheet
On CD – BGN 1.00 per CD
Internet download – free of charge
Total amount due is calculated as a sum of the amounts under p. 6.1. + p. 6.2.
Fee is subject to VAT (20%).
7. Initial public offering of securities on a regulated market:
Amount due is calculated as described in p. 4.
8. Maintenance of bond issue registration
It includes maintenance of the issue general account, covering the actual details of the issue characteristics, issuer`s records containing actual data as listed in the Commercial register and keeping the relevant correspondence related to issue`s payments servicing.
Total amount due is calculated as a sum consisting of two components: fixed component + additional component (payment as for the number of bondholders).
The fee is calculated at the end of the first business day of each month, on the basis of the number of the accounts maintained by CDAD.
No fee charged for the months in which the issue is registered and respectively closed.
BGN 80.00 +Number of accounts / Min Value of / Max Value of / Ddditional fee calculation
Oт
Min / До
Max / Additional Fee / Additional Fee / BGN / per each / for the difference above
1 / 500 / 0.01 / 2.50 / 0.15 / 30 / *
501 / 1 000 / 2.50 / 4.00 / 0.15 / 50 / 500
1 001 / 2 000 / 4.00 / 6.73 / 0.15 / 55 / 1 000
2 001 / 5 000 / 6.73 / 14.23 / 0.15 / 60 / 2 000
5 001 / 10 000 / 14.23 / 25.77 / 0.15 / 65 / 5 000
10 001 / 15 000 / 25.77 / 36.48 / 0.15 / 70 / 10 000
15 001 / 30 000 / 36.48 / 66.48 / 0.15 / 75 / 15 000
30 001 / 60 000 / 66.48 / 111.48 / 0.15 / 100 / 30 000
60 001 / 100 000 / 111.48 / 131.48 / 0.15 / 300 / 60 000
100 001 / 131.48 / 0.15 / 500 / 100 000
9. Bond issue deregistration
Fee………………BGN 500,00.
10. Issuance of depository receipts at issuer`s request.
Fee………………BGN 0,60 per depository receipt.
11. Registration of capital changes:
11.1. by changing the nominal value of the shares
Fee…………………….BGN 150.00
11.2. by deposit / withdrawal of securities
Fee as described under p. 4.
11.3. by changing the nominal value of the shares and deposit / withdrawal of securities
Total amount due is calculated as a sum of the amounts under p. 11.1 + 11.2.
12. Joint-stock company account (lot) deregistration.
Fee……………….BGN 1500,00.
Fee (incl. VAT)….. BGN 1800,00.
13. Report on the registered transfers for a given period
BGN 100, 00 + additional component - payment related to the number of shareholders / bondholders, calculated as follows:
number of shareholders / bondholders / Additional Fee CalculationFrom / To / Min (Lower limit) / Max (Upper limit) / BGN / per each / for the difference above
1 / 50 / 0,02 / 0,95 / 0,95 / 50 / *
51 / 1 000 / 0,95 / 13,37 / 0,85 / 65 / 50
1 001 / 5 000 / 13,37 / 48,37 / 0,70 / 80 / 1 000
5 001 / 10 000 / 48,37 / 81,71 / 0,60 / 90 / 5 000
10 001 / 15 000 / 81,71 / 106,71 / 0,50 / 100 / 10 000
15 001 / 30 000 / 106,71 / 130,71 / 0,40 / 250 / 15 000
30 001 / 50 000 / 130,71 / 154,04 / 0,35 / 300 / 30 000
50 001 / 100 000 / 154,04 / 184,04 / 0,30 / 500 / 50 000
100 001 / 200 000 / 184,04 / 209,04 / 0,25 / 1 000 / 100 000
200 001 / 209,04 / 0,10 / 1 000 / 200 000
Fee is subject to VAT (20%).
14. Issuance of a certificate of the capital structure of a company.
Fee………………….….BGN 26,00
Fee (incl. VAT 20%)….. BGN 31,20
15. Issuance of a certificate of a company for registration on a regulated market.
Fee………………………..BGN 50,00.
Fee (incl. VAT 20%)……...BGN 60,00.
16. Provision of a report on shareholders, holding certain percentage of the company capital, specified by the issuer, as of a fixed date.
Fee……………………….BGN 50,00.
Fee (incl. VAT 20%)……..BGN 60,00.
17. Provision of a report on bond issue payments.
Fee……………………….BGN 20,00.
Fee (incl. VAT 20%)……..BGN 24,00.
18.Issuer portfolio provision.
Fee…………………………BGN 80,00.
Fee (incl. VAT 20%)……….BGN 96,00.
19. Issuance of a certificate of foreign shareholders / bondholders.
Fee……………………………BGN 50,00.
Fee (incl. VAT 20%)………....BGN 60,00.
20. Tender offer purchase servicing (under Art. 157 of LPOS)
Amount due: 0,01% of the nominal value of the issue but not less than BGN 500,00 and not more than BGN 5000,00.
21. Provision of a report on companies with state participation for governmental institutions.
Fee………………………………BGN 10,00.
Fee (incl. VAT 20%)…………….BGN 12,00.
22. ISIN code assignment.
Fee………………………..BGN 72,00.
23. Issuance of a certificate for exercised/not exercised RIGHTS.
Fee………………………BGN 20,00.
24. Issuance of a certificate for the number of the subscribed shares against bonds.
Fee…………………….BGN 20,00.
25. Issuance of a certificate for payments received at the account of CDAD from sales of RIGHTS.
Fee…………………………..BGN 20,00.
Fee (incl. VAT 20%)………...BGN 24,00.
26. Report on persons who have exercised/not exercised RIGHTS upon capital increase with RIGHTS issuance.
Amount due is calculated as described in p. 27.
27. Report on the persons who have subscribed/not-subscribed shares against bonds upon capital increase with conversion of bonds into shares
BGN 150,00 + additional payment for the number of accounts:
брой сметкиNumber of accounts / горна / Additional payment Calculation
From / To / Min (Lower limit) / Граница
Max (Upper limit) / BGN / Per each / For the difference above
1 / 500 / 0.01 / 2.50 / 0.15 / 30 / *
501 / 1 000 / 2.50 / 4.00 / 0.15 / 50 / 500
1 001 / 2 000 / 4.00 / 6.73 / 0.15 / 55 / 1 000
2 001 / 5 000 / 6.73 / 14.23 / 0.15 / 60 / 2 000
5 001 / 10 000 / 14.23 / 25.77 / 0.15 / 65 / 5 000
10 001 / 15 000 / 25.77 / 36.48 / 0.15 / 70 / 10 000
15 001 / 30 000 / 36.48 / 66.48 / 0.15 / 75 / 15 000
30 001 / 60 000 / 66.48 / 111.48 / 0.15 / 100 / 30 000
60 001 / 100 000 / 111.48 / 131.48 / 0.15 / 300 / 60 000
100 001 / 131.48 / 0.15 / 500 / 100 000
28. Report on persons who have subscribed/non-subscribed shares against warrants upon capital increase.
Amount due is calculated as described in p. 27.
29. Immobilization / dematerialization of securities.
Amount due is calculated as described in p. 5.
30. Payment services related to bond issues and dividend payments.
The fee is calculated as a sum consisting of two components: 0,01% of the amount of the due payment, not less than BGN 500,00 and not more than BGN 5000,00 + BGN 0,05 per each shareholder / bondholder.
30.1. For second and resp. subsequent interest payments on the same issue within the period of 1 year (12 months), the fee under p. 30 reduced by 50% is due.
31. Dividends calculation and listing of disbursement amounts as per shareholders.
The fee is calculated on the basis of shareholders number:
Fee / + VAT (20%)Up to 1000 shareholders / BGN 250,00 / BGN 300,00
From 1001 to 10000 shareholders / BGN 400,00 / BGN 480,00
Над 10000 акционера
Over 10000 shareholders / 600,00 лв.
BGN 600,00 / 720,00 лв.
BGN 720,00
32. Report on the public companies general meetings and emerged results.
Fee………………………….BGN 5,00.
Fee (incl. VAT 20%)………..BGN 6,00.
33. Registration of securities in-kind
Fee………………..BGN 300,00.
34. Registration of transformation (merger, acquisition, separation and division) of companies.
Fee………………..BGN 300,00.
35. Report on the number of the shares in circulation
Fee is paid for every business day within which the report for the respective Mutual Fund and II is drawn up.
Report is prepared on daily bases.
Fee ………………… BGN 2.50
III. Services for Investment Intermediaries
1. Transfer Processing
Fee……………….BGN 0,60.
The fee is paid by the transferring parties for each client. It includes:
1.1. Syntacticand logical checks.
1.2. Check results return.
1.3. Message requisites consistency checks
1.4.Consistency checks of message requisites with CDAD`s registers data
1.5. Data provision for each transfer processing circumstances (conditions).
1.6. Blocking of FI, subject to the transfer / transaction.
1.7. Unblocking of FI, subject to the transfer / transaction.
1.8. FI transfer.
1.9. Data provision as regards process completion.
- Account opening
Fee……………………..BGN 0,50.
It includes:
2.1.Syntactic and logic checks.
2.2.Returnthe check results.
2.3.Consistency checks of message requisites with CDAD`s registers data
2.4.Data provision for each transfer processing circumstances (conditions).
2.5.Data provision as regards account opening completion.
3. Correction by CDAD`s operator of incorrectly submitted data by a member:
3.1. In regard to pending transaction – BGN 50,00.
3.2. In regard to settled transactions – BGN 200,00.
4. Issuance of a "free float" report on percentage (%) base.
Fee……………………..BGN 4,00
Fee is due for each issue.
5. Depository receipts verification through ISO message.
Fee…………….BGN 0,30.
6.Daily report on DVP account fund transfers.
Report is generated upon subscription, after daily settlement closing. Minimum subscription period is 1 month.
Fee is paid for each report.
Fee………………………….BGN 3,00.
7. Depository receipt issuance.
Fee……………...... BGN 1,00.
8.Fee for depository receipt issuance upon CI transfer from personal to client`s account upon decision for indemnification (without issuance of a certificate for CI).
Fee…………………BGN 1,00.
9. Data processing in regard to restricted share transfers (issue subject to transfer restrictions) by CDAD`s operator.
Fee……………………………………BGN 20,00.
Fee is paid for each ownership change transfer.
Services subject to VAT
10. Blank form “Transfer Order of Securities (CI) to client`s account, held by II.”
Fee per 1 copy……………………..BGN 0,50.
Fee per 1 copy (incl. VAT 20%)…...BGN 0,60.
11. Results processing of centralized mass privatization public tenders for II –members of CDAD.
Fee is due for each shareholder.
Fee…………………………BGN 0,60.
Fee (incl. VAT 20%)……….BGN 0,72.
12.Additional information services
Fee is due for each II client.
Fee………………………………..BGN 0,30.
Fee (incl. VAT 20%)…….………..BGN 0,36.
13. Report on the daily transactions settlement results. Monthly fee.
Fee…………………..….. BGN 100,00.
Fee (incl. VAT 20%)……. BGN 120,00.
14. Supplementary report on the daily transactions settlement results.
Fee per day……………………….…..BGN 10,00.
Fee per day (incl. VAT 20%)…………BGN 12,00.
IV. Services for Registration Agents
1. Transfer processing
Fee……………….BGN 0,60.
It includes:
1.Syntactic and logic checks.
2.Return check results.
3.Message requisites consistency checks.
4. Consistency checks of message requisites with CDAD`s registers data.
5.Data provision for each transfer processing circumstances (conditions).
6. Blocking of FI, subject to the transfer / transaction.
7.Unblocking of FI, subject to the transfer / transaction.
8.FI transfer.
9. Data provision as regards process completion.
- Account opening
Fee……………………..BGN 0,50.
It includes:
- Syntactic and logic checks.
- Return check results.
- Consistency checks of message requisites with CDAD`s registers data
- Data provision for each transfer processing circumstances (conditions).
- Data provision as regards account opening completion.
3. Personal data change.
Fee……………………..BGN 4,00.
4. Donation securities transfers
Fee……………………………BGN 5,00.
Services subject to VAT (20%)
5. Duplicate of depository receipt
Fee…………………………………BGN 4,00.
Fee (incl. VAT 20%)………………BGN 4,80.
It includes:
5.1 Syntactic and logical checks and return the results.
Fee……………………………………BGN 2,00.
Fee (incl. VAT 20%)………………..BGN 2,40.
In case of message error, additional charges apply for each subsequent message.
5.2 Generated data print-out.
Fee……………………………BGN 2,00.
Fee (incl. VAT 20%)………….BGN 2,40.
6. Standard portfolio of a physical person
Fee…………………………………BGN 8,00.
Fee (incl. VAT 20%)………………..BGN 9,60.
Report includes: holder`s ID, names of issuers which compose the portfolio, ISIN code of the issue (issues), nominal value, number of securities for each issues and account type (personal or held by II). Report shall be prepared as of the date of the application (report of the day). In case of inheritance procedure, securities held by the deceased person shall be blocked.
7. Detailed portfolio of aphysical person
Fee…………………………….BGN 20,00.
Fee (incl. VAT 20%)…………..BGN 24,00.
In addition to the details under p. IV.6 the report includes details of the IIs which maintain clients` accounts.Report shall be prepared as of the date of the request (report of the day).
8. Detailed portfolio of a physical person for pledge registration
Fee…………………………….BGN 10,00.
Fee (incl. VAT 20%)…………..BGN 12,00.
In addition to the details under p. IV.6 the report includes details of theIIs which maintain clients` accounts and the number of the financial instruments in each account. Report shall be prepared as of the date of the application (report of the day) for a given issue.
9. Portfolio of a physical person as of a past date
Fee……………………………….BGN 20,00.
Fee (incl. VAT 20%)……………..BGN 24,00.
Compiled in case of application for professional/ institutionary investor or when required by the Commission for Financial Supervision. Covers the details under p. IV.6 as of date, indicated by the applicant.
10. Standard portfolio of a legal entity
Fee……………………………BGN 80,00.
Fee (incl. VAT 20%)………….BGN 96,00.
Report includes: holder`s details, names of issuers which compose the portfolio, ISIN code of the issue (issues), nominal value, number of securities for each issues and account type (personal or held by II). Report shall be prepared as of the date of the request (report of the day).
11. Portfolio of a legal entity as of a past date
Fee……………………………………………BGN 80,00.
Fee (incl. VAT 20%)………………………….BGN 96,00.
Compiled in case of application for professional/ institutionary investor or when required by the Commission for Financial Supervision. Covers the details under p. IV.11 as of date, indicated by the applicant.
12. Detailed portfolio of a legal entity for pledge registration
Fee…………………………..BGN 50,00.
Fee (incl. VAT 20%)…………BGN 60,00.
Report includes details under p. IV.11 as regards the issue, subject to pledge and the details of the IIs which maintain clients` accounts and the number of the FI held in each account. For a given issue a report shall be prepared as of the date of the request (report of the day).
13. Issuance of a certificate under theOrdinance for implementation of Art. 7(3) of the Law on the Restoration of Property Rights in Nationalized Real Property
Fee……………………….BGN 10,00.
Fee (incl. VAT 20%)……..BGN 12,00.
V. Registration of transactions and payments with CI
1. Payments with CI servicing
(Fee is determined by the CI nominal amount used as a means of payment as follows):
CI nominal value (amount) BGN / Fee BGN1,00 – BGN 4999,00 / 20,00
5000,00 – 49999,00 / 50,00
50000,00 – 499999,00 / 100,00
More than 500000,00 / 200,00
2. Registration of CI transactions, concluded on OTC market
(Fee is determined by the CI nominal amount used as a means of payment as follows):
:
CI nominal value (amount), subject of transfere - BGN / Fee BGN1,00 -1000,00 / 20,00
1001,00 – 5000,00 / 50,00
5001,00 – 10000, / 100,00
10001,00 – 50000,00 / 200,00
50 001,00 – 100 000,00 / 500,00
More than BGN 100 000,00 / 1 000,
VI. Pledges Entries under the Registered Pledges Act
1. Pledge entry
Fee……………………BGN 40, 00.
Fee is due for the 1st page of the application. Succeeding pages and document of consent, if attached separately, are charged BGN 10,00 each.
2. Pledge deletion
Fee……………………………BGN 25,00.
3. Registration of additional circumstances under Pledge Agreement
Fee………………………..BGN 25,00.
4. Certificate for lack / presence of registered circumstances
Fee……………………………..BGN 10,00.
Fee is due for each certificate record.
5. Report on FI`s liabilities presence on accounts held by IIs.
Report is free of charge upon subscription (min subscription period – 1 month). Information is accurate (updated) at the date and time of issuance.
VII. Entries under the Law on Financial Collateral Agreements
1. Initial registration of a financial collateral agreement by pledge provision or ownership transfer.
Amount due: 0,01 % of the securities` cumulative nominal value, not less than BGN 50,00 and not more than BGN 3000,00.
Not subject to VAT.
2. Registration of changes in a financial collateral agreement via securities entry /deletion to previously registered collateral.
Amount due: 0,01 % of securities` cumulative nominal value,incorporated (granted)/deleted as collateral, not less than BGN 50,00 and not more than BGN 3000,00.
Not subject to VAT.
3. Registration of changes in a financial collateral agreement, not subject to securities entry /deletion.
Fee…………………………BGN 50,00.
4.Enforcement of financial collateral agreement
Amount due: 0,005 % of securities` cumulative nominal value, not less than BGN 25,00 and not more than BGN 1500,00.
Subject to VAT (20%).
5. Issuance of a Certificate for registered financial collaterals.