As a shareholder, you can participate in various corporate actions when the company decides to take such action. In your account management (Client Portal) at CapTrader, you make your selection of corporate action with just a few clicks.
In general, the Annual General Meeting can resolve various types of corporate action, such as distributing profits to shareholders in the form of cash (cash dividend) or in the form of shares (stock dividend).
In unserem Beispiel auf dieser Seite haben wir einmal die Kapitalmaßnahme von TUI ausgewählt, bei der es für 21 "alte" Aktien (Rechte) 10 "neue" Aktien zur Wahl gab. Es können in diesem Beispiel also nur 21 Bezugsrechte bzw. ein Vielfaches von 21 Bezugsrechten ausgeübt werden.
Important: As a shareholder, please always actively participate in the exercise of your rights and, if necessary, also choose to sell your rights (new rights will be displayed in your portfolio with the abbreviation: .RTS), as these rights will otherwise expire worthless if you do not make a choice.
Dialing into the account management (Client Portal)
Dial into the Account Management (Client Portal) and then click on the red illuminated button in the upper right corner. > Bell symbolwhen a corporate action has been announced. There you will now find notifications. In our example the TUI corporate action. Please click your > Corporate action message now once on.
In the message window you will now find in the category > Corporate Actions the corporate action message. Now click on this new message.
Now read the information on the current corporate action and then click on the button > Select CA Choice.
In our example, the shareholder holds 379 shares in TUI AG. These 379 old shares certify 379 rights which the shareholder can now exercise.
Note: This is not investment advice. Please make your decision solely on your own.
- Option 1: Sale of the 379 rights.
The shareholder can now view these right in the Trader Workstation (TWS), the app or the account management (Client Portal) in his portfolio. These rights had an equivalent value of 0.48 euros per individual right at the time of the corporate action. The shareholder could therefore sell all 379 rights at a total price of 181.92 euros. The selection would thus be made and the corporate action completed for the shareholder. - Option 2: Exchange of the 379 rights for new shares
The shareholder can exchange his 379 rights for new shares. In the measure, the exchange ratio is specified as 10:21. This means that shareholders can receive 10 "new" shares for 21 rights. In our example, the shareholder holds 379 shares/rights and can therefore acquire 180 new shares.
Explanation: 379 rights: 21= 18 (rounded down). 18x10=180 new shares.
Important: these 180 new shares must be purchased in full by the shareholder following the corporate action. Therefore, please ensure that you have sufficient credit or margin in your securities account to be able to purchase the new shares when they are posted.
In this case, our shareholder bears in the second free field (CHOICE(S): 2) enter the number: 378, denn dies ist die maximale Anzahl an Rechten, die er ausüben kann (18x21=378).
- Option 3: Selection of worthless forfeiture of shareholder rights
The shareholder's rights will expire worthless (no cash settlement will be made) if the first blank field (CHOICE(S): 1) is completed in this form or if the shareholder does not select either option 1 or 2 explained here. In this case, the shareholder rights expire worthless upon expiry of the term of this corporate action. - Option 4: Partial sale of shareholder rights
Selbstverständlich ist es auch möglich, lediglich einen Teil der Bezugsrechte auszuüben und die restlichen Bezugsrechte zu verkaufen (Mix aus Möglichkeit 1 und 2). Ein Sonderfall ist die "Opération blanche": hier erhält der Aktionär bei seinem Teilverkauf der Rechte exakt soviel Kapital, um ohne eigenen (weiteren) Kapitaleinsatz die neuen Aktien erwerben zu können.
Optionally, additional subscription rights can also be purchased on the stock exchange to subscribe for more new shares.
Now make your selection and then close the process by clicking the button > Save from.
