CDSC Introduces Message Alerts for Right Share Issuance Notifications

Taking into consideration the demands of investors, CDS and Clearing Limited (CDSC) have initiated the process of disseminating information regarding the opening of rights shares, starting from today (Bhadra 12th), by sending messages to mobile phones.

CDSC has commenced this initiative in collaboration with relevant companies. Today, 38,327 investors of Synergy Power Development Limited (SPDL) have received notifications on their mobile phones regarding the rights issue. In total, there are 70,000 investors in this company, and messages will be sent to the remaining ones. However, some investors have provided incorrect 'nine-digit' numbers, and some have even provided landline numbers, making it challenging for everyone to receive the messages.

All investors are urged to ensure that their contact numbers are accurate in order to receive notifications about rights issues. To send messages in this manner, coordination with the respective company is essential, as the primary responsibility for informing its shareholders lies with the related company.

CDSC will bill the cost of sending such messages to the respective companies, as part of their coordination efforts to inform investors about the rights issuance.

Hence, CDSC is not obliged to directly notify investors about rights issues for all companies. Companies themselves have the option to inform investors about rights issues via messages, and CDSC will only step in if companies request assistance in notifying investors about the rights issue.