The benefits of electronic sending the right of priority / saying goodbye to the traditional method since 1402 – Tejaratnews
According to Tejarat News, in the capital increase from the place of cash and claims, it was previously done according to the commercial law approved in 1347, and it was foreseen that the certificate of pre-emption of the shareholders would be sent by mail. After receiving the right of priority in case of participation in the capital increase, the shareholders had to post it again after filling out the certificates. Also, if the shareholders needed to deposit additional money, they should have sent the documents of deposit to the relevant company after going to the bank in person.
Roshan Qalb said in this press conference: “The previous process involved a lot of costs, including printing sheets and postage costs for the companies, and also imposed costs on the shareholders.” Regardless of these cases, in this process, there may be discrepancies in sending and receiving parcels.
He added: For example, one of the problems of the shareholders was that the deadline for accepting the right of first refusal and converting it into shares was over when sending the documents by mail.
The license of the stock exchange organization from the sixth development plan
The director of primary market supervision of the Stock Exchange Organization stated: Following Article 68 of the Law of the Sixth Development Plan, which gave the permission to the Stock Exchange Organization to design this process in an electronic form by developing instructions, this year this instruction went through the stages of completion and implementation. And in January of this year, it was approved by the Board of Directors of the Stock Exchange Organization and was communicated to the publishers.
The country’s 6th economic development plan was implemented between 2016 and 2014, and it was extended twice in 2011 due to the failure to achieve its goals and the government’s delay in compiling the 7th development plan.
In response to Tejarat News reporter’s question about why this measure had not been implemented since the beginning of the sixth development plan and it was recently approved by the Stock Exchange Organization, Roshan Qalb said: The implementation of such a plan required an electronic infrastructure so that shareholders could participate in Have the electronic process.
He stated: This possibility has been provided by the design of the Sejam system and considering that most of the shareholders have registered and authenticated in the Sejam system.
How to send electronic priority right
This official said: The general form of the process after the electronicization of the process will be in this way that the shareholder will enter his shareholding portal on the capital market beneficiaries site and any company that has a capital increase from claims and cash receipts and based on this capital increase If the shareholder has a priority right, it will be visible in the portal of this system.
Roshan Qalb stated: In addition to this issue, a notification process via SMS is also planned, and with the start of the period of using the right of priority for companies through this SMS system, the shareholders will be informed about this deadline.
By referring to the shareholder’s portal on the website of the beneficiaries of the capital market, two options are available to him; First, by confirming the possibility of using the right of first refusal, he participates in the capital increase, and secondly, if there is a need to deposit money, he will make an instant deposit without going to the bank and sending postal documents.
Roshan Kalb clarified: Before this and according to the previous law, the time to participate in the capital increase is 60 days, but by removing the mailing and only by referring to the system, he participates in the capital increase.
It should be noted that this process will be mandatory from the beginning of next year, but it will continue in parallel with the traditional process, which was sending by mail and visiting the bank in person to deposit cash, for the traditional audience of the capital market.
Advantages of the Electronic Preemption Submission Plan
Currently, raising capital from cash or raising capital from receivables takes seven months, which will be reduced to four months with the future process, and the financing of the company will be done faster.
The stock exchange organization’s estimate of the annual costs that will be eliminated by sending certificates electronically is based on the fact that 320 billion Tomans will be saved in companies in the cost of personnel and the requirements of sending pre-emptive rights to 12 million shareholders.
Also, 480 billion Tomans will be saved in the cost and time of the shareholders who participate in the process of increasing capital and depositing money into the company’s account.
It should be mentioned that 3 thousand trees were cut every year to print this amount of paper used for certificates and related documents in the previous method, and with the electronicization of the process, the cutting of trees is also prevented.