DTC’s Corporate Actions Processing Service for Reorganizations provides full lifecycle processing, including sourcing and announcing the details of upcoming events, accepting and acting on instructions, and collecting, allocating, and reporting on the resulting entitlements. The Reorganizations service includes the announcement and processing of events such as exchange offers, conversions, Dutch auctions, mergers, puts, reverse stock splits, tender offers, rights and warrant exercises, and other events arising from the servicing of the securities eligible at the depository.
The following documents should be used for communicating reorganizations announcements to DTC.
Specific client support e-mail addresses are listed in the Client Center.
- The Null/Void/Worthless Letter Template provides agents with the required verbiage to initiate a mandatory corporate action that authorizes DTCC to delete/cancel a participant position on its books and records. The letter contains the required indemnification language to confirm that the securities are deemed null, void, and worthless, and that there will be no future payments. Completed documents can be sent to: MandatoryReorgAnnouncements@dtcc.com
- The Stock Maturity Notice Template provides agents with the required information to notify DTCC of a maturity for stock event. Typically, maturities are for cash and are processed by the redemptions team. However, when the maturity is being paid through the issuance of stock, the notification must be sent to the mandatory announcements team and must contain all of the critical information listed on this template in order for the event to be announced and processed. Completed documents can be sent to:MandatoryReorgAnnouncements@dtcc.comm