Moretime´s way towards AktieTorget
In November 2013 the company Moretime decided to list its shares on Aktietorget. An important part of the preparatory process was to affiliate the shares to Euroclear Sweden.
According to the company´s CEO Carl-Fredrik Morander the affiliation was a smooth and efficient process:
“Starting from when we made the decision to go for a listing and initiating the contact with Euroclear, we had the shares registered on our shareholders’ accounts around seven weeks later. On 10 January 2014, we were formally affiliated. A major part of the preparations on our side was to bring together our share register and make sure all the paperwork was in place, and that all physical share certificates were destroyed.”
Early affiliation important part of the preparations
Carl-Fredrik emphasizes the fact that many companies have distributed physical share certificates among its shareholders, and the difficulties that may arise in the process of collecting and destroying these. This is often the most time-consuming part of getting ready for the affiliation that determines how long the preparatory procedure will take.
As Carl-Fredrik puts it:
“Not even we who work with this on a regular basis had our papers completely in order. My advice to other companies that are planning a future listing is to join Euroclear now already. This way, everything is well prepared once you are occupied with all the other steps of the listing procedure.
Safe and efficient handling of the register of shareholders
There are several advantages of affiliating your company´s shares to Euroclear Sweden. Secure handling of securities, efficient management of the register of shareholders in combination with a streamlined process for payment of dividends are just some of the benefits.
For Moretime the whole process was rather swift. The main reason for the affiliation was the coming listing on AktieTorget, but they do see the benefits of reduced administration and risk mitigation as a result.
“Now we can concentrate more on what an increasing number of shareholders means for the company, instead of spending time administering our share register.” Carl–Fredrik concludes.