Not-for-Profit Partnership “The National Depository Center” (NDC) and CJCS Registrar Society STATUS (CJSC STATUS), after successfully completing a test run, have begun mutual acceptance of electronic documentation in information exchange, without the use of paper documents.
Paper-free information exchange is expected to help the companies to achieve better and more efficient client servicing.
Nikolai Egorov, NDC Director, said:
"Switching to a paperless document system with CJSC STATUS is an important part of our work on unification and harmonization of standards. We see this achievement as a further step towards a higher market liquidity, faster operations and settlement processing, improved corporate activity, along with an overall reduction of risks."
Mikhail Nedelskiy, CJSC STATUS General Director, said:
"Electronic documentation improves the quality and efficiency of client servicing, and is an ideal add-on for the technologies we use for providing professional services connected with the maintenance of registry and joint stock company corporate policy. We believe that a registrar that has introduced electronic document exchange with a settlement depository has an additional competitive advantage."
Electronic documents will be the basis for making entries about operations with NDC personal accounts, as well as for cooperation between NDC (as the nominee shareholder) and CJSC STATUS. Paper copies of electronic documents will be provided only if required by law, on conditions defined by corresponding agreements between the two parties.
About CJSC STATUS
CJCS Registrar Society STATUS performs professional activity on the equity market. The Society offers a wide range of services regarding the corporate property of join stock companies. At the moment the organization maintains registers of joint stock companies situated in a variety of Russian regions, including: Sberbank of Russia, RAO UES of Russia, OJSC Magnitogorsk Metallurgical Plant, OJSC OGK-3, CJSC Commercial Bank CentroCredit, OJSC Moscow United Energy Company, OST Group of Companies (Chernogolovka), CJSC Expocentre, enterprises which are part of OJSC Wimm-Bill-Dann Holdings, OJSC EFKO, OJSC Rusagro Group of Companies and others.
Charter capital: RUR 7,740,000.
Shareholders’ capital (as of 01.01.2007): RUR 263,000,000.
Insurance value at insurance company OJSC ROSNO: USD 12,000,000.
Personal accounts serviced: over 1,500,000.
Auditing company: CJSC Auditor Company Skarabey (annual audit).
Majority shareholders of CJSC STATUS are Sberbank of Russia and JSC VTB Bank.
You can receive the additional information in Press-service NDC by phone (495) 232-09-10 or e-mail: .