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What protections were in place for retail investors who couldn’t take up the ECNs because they didn’t have Euroclear or Clearstream accounts?

April 26, 2017accounts clearstream couldn’t ecns euroclear investors protections retail

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What protections were in place for retail investors who couldn’t take up the ECNs because they didn’t have Euroclear or Clearstream accounts?

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The prospectus states at pages 3 and 85 that holders that didn’t have access to either Euroclear or Clearstream should contact either a broker or IFA. A broker or IFA would then have been able to set up an account for them. Lloyds also set up a CREST account for holders with CREST settled notes enabling such holders to accept the exchange offer through CREST. Those applying for the Exchange Consideration Amount, which was delivered in ordinary shares, did not need a Euroclear or Clearstream account.