loading...
Dubai CSD page header image

Securities Withdrawal of Listed Companies

Details

Listed Companies requests for securities withdrawal from Dubai CSD in case of:

  1. Bankruptcy or insolvency.
  2. Depository Withdrawal from Dubai CSD, for depository at head-office home country. (In case of Dual listing).
  3. Any Other Depository Withdrawal Cases. 
Fees

Withdrawal Fees:

Withdrawal Cases (1-2) above:

  • AED 25 per shareholder in the share book, minimum of AED 25,000 and maximum of AED 500,000

Withdrawal Case (3) above:

  • Fees Calculation: No. of shares X Last Closing Price X 0.002 = minimum AED 10 Million.
  • Financial Guarantee of AED 100 million for period of 5 years:
    • Minimum of AED 50 million as Cash Guarantee deposited in Dubai CSD account.
    • The remainder amount of the financial Guarantee under an unconditional bank guarantee in favor of Dubai CSD.

SMS Service Fees:

  • Local Numbers: AED 0.104 per SMS, minimum fees of AED 5,000
  • International Numbers:AED 0.78 per SMS, minimum fees of AED 5,000
  •  

     

    Procedures
    1. Ensure to apply for the securities withdrawal from Dubai CSD after getting the approval from the concerned entities in accordance with the Law & SCA regulations.
    2. Fees payment, in advance clear from any tax or charges, as the depository withdrawal request will not take effect until all fees have been settled.
    3. Submission of Financial Guarantee for (case 3) in advance, as the depository withdrawal request will not take effect until the Financial Guarantee is received:
      • Dubai CSD can liquidate all or part of the Financial Guarantee to settle any claims or risk on Dubai CSD depository withdrawal.
    4. Ensure there are no financial obligations with Dubai CSD.
    5. Provide the SMS Text in English & Arabic to notify the shareholders on the withdrawal effective date.
    6. Withdrawal request will execute within (6) months, not exceeding (9) months, from the of completing the withdrawal request, procedures & requirements applied with Dubai CSD.
    7. Dubai CSD shall send the below to issuer or registrar after the withdrawal :
      • Confirmation letter on the withdrawal from Dubai CSD.
      • Last updated share book.
      • Copies of all official entities orders, banks’ and Financial Institutions’ pledge requests, Official Guardians’ letters such as (AWQAF & AMAF) along with related reports (if any).
    Required Documents
    1. Official securities withdrawal request letter addressed to Dubai CSD mentioning:
      • Reason of withdrawal.
      • Last Date of trading (before withdrawal effective date)
    2. Copy of the official approval from the concerned entities in accordance with the law and SCA regulations.
    3. Financial Guarantee (for case 3) of AED 100 million for period of 5 years.
    How to Apply
    Submit through eServices at Dubai CSD. Submit the original Financial Guarantee for (Case 3) to Dubai CSD at DFM.
    Services Catalogue & Fees