Securities administration - Luxembourg
Income collection
| Market Record date | Ex-date | Basis for entitlement | Standard interest calculation rule |
| Corporate bonds and public debt | |||
| Payment date -1 | Payment date -3 | Settled position on record date | For bonds issued before 1 January 1999: 30/360; For bonds issued after 31 December 1998: Actual/Actual |
| Investment funds | |||
| None | None | Settled position on record date | None |
| Equities | |||
| Payment date -1 | Payment date -3 | Settled position on record date | Not applicable |
Corporate actions
Most common corporate events The most important corporate actions on the Luxembourg market are: tender offers, rights issues, bonus issues, exchange offer. Mergers, takeovers, convertible bond conversion etc. are rarely seen on the Luxembourg market.
Events on investment funds include, but are not limited to, bonuses, capital distributions, choice dividends, exchange, issue data changes, liquidations, mergers, reorganisations, purchase offers, repurchase offers, stock dividends, stock splits, reverse splits, subscription offers, tender offers.
Early redemptions
Drawings on securities deposited in VP Securities A/S are performed according to a percentage-based drawing procedure. This applies to drawings on Danish mortgage credit institution bonds denominated in Euro as well as to drawings on Danish government bonds denominated in Euro. The percentage rate announced in the market will always be a factor with ten decimals.
Organisation of AGM/EGMs
AGMs and EGMs are generally announced through the official gazette (Mémorial) and in a local newspaper. Corporations must hold a general meeting of shareholders at least once a year.
Proxy Voting procedures
Proxy voting is allowed on the Luxembourg market.
Market compensation rules
Please refer to the Clearstream Banking Transaction Management Rules - Luxembourg and the Customer Handbook.