YOUR SHAREHOLDER RIGHTS AND RESPONSIBILITIES
An Introduction to all you need to know as a Valued ShareholderAs a Shareholder of ACB Grenada Bank Ltd. (hereinafter referred to as ACB Grenada Bank / the Company), shares confer an interest in the Company with certain rights and responsibilities, as detailed in its Articles, Bylaws and other relevant legislative provisions.
- To attend and vote at Shareholders Meetings
- To elect the Directors
- To appoint the External Auditors
- To receive Audited Financial Statements, External Auditor’s Reports & Proxy Circulars
- To information via disclosure documents
- To dividend, if declared To make Shareholder proposals.
Shareholders are entitled to have access to:
- Articles and Bylaws, unanimous Shareholder Agreement (s)
- Minutes and resolutions of Shareholders
- Copies of all Notices
- Register of Members, Directors, Secretaries
- Register of Directors’ holdings
THE RIGHT TO VOTE
One of the key rights of a Shareholder is the right to vote their shares at the Annual General Meeting and/or any other Special Shareholders Meeting, as convened.
WHY ATTEND MEETINGS AND VOTE?
A Shareholder’s opinion about ACB Grenada Bank matters. Shareholder voting rights not only confers the power to elect Directors and vote on matters properly tabled at Shareholders’ Meeting, but also afford Shareholders the opportunity to make their voices heard. As an institution committed to complying with established corporate governance standards, the exercise of a shareholder’s right to vote , whether by proxy or in person, remains in the best interests of ACB Grenada Bank. This process helps determine the leadership, organization and direction of the Company.
The Company’s Bylaws permit Shareholders to vote by proxy. This occurs when a Shareholder authorizes another person by the completion of an approved Proxy Form to attend and vote at a Shareholders Meeting. Shareholders are free to issue special instructions to vote in accordance with their wishes.
THE RIGHT TO DIVIDEND, IF DECLARED
The decision to recommend the payment of a dividend to Shareholders in respect of each financial year end, rests with the Board of Directors and remains discretionary.
TYPES OF DIVIDEND
- Cash Dividend – a fixed sum paid as at the record date
- Stock Dividend – distribution of additional shares to Shareholders as at the record date.
- To exercise Shareholder rights:
- with good judgment
- taking into consideration the overall best interests of ACB Grenada Bank
- To attend Shareholders Meetings
- To be informed. To know the provisions of the Company’s Bylaws
The Company’s Shareholder Registry is currently being managed by the Eastern Caribbean Central Securities Depository Ltd. (ECCSD), based in Basseterre, St. Kitts. For all Shareholder queries and/or transactions to include Share Transfers and Account updates, please contact the ECCSD directly via:
- Email: firstname.lastname@example.org
- Telephone: 1(869) 466 – 7192 / 1 (800) 744-9238 (access only available within the Eastern Caribbean)
Update your records If you know a fellow shareholder who has complained of not receiving communications from the Company, encourage them to contact the Legal/ Secretariat Department to update their physical address, telephone number(s), email address and direct deposit account, on record.