Unclaimed Shares

Claiming Procedure

When claiming shares, the client has to come through the Custodian of the Unclaimed Shares Portfolio, which in this case is Chengetedzai Depository Company with the following documentation for positive identification:

a) A letter from the Stockbroker, accompanied by Brokers’ Notes and or payment receipt (s) and account statement confirming the shares held on behalf of the client (for the operating stock broking firms);

b) Brokers’ Notes payment receipt (s) and or account statement confirming the shares held on behalf of the client (for non-operating stock broking firms);

c) Certified copy of ID for natural persons or CR14 for companies;

d) Proof of residence or declaration of residence;

e) General Power of Attorney and a) or b) and c) of the appointee where the beneficial owner resides outside Zimbabwe;

f) The claimant will complete and sign a Claim Form in duplicate certifying his/her entitlement to the shares and discharging the custodian for further liability for such shares;

g) The custodian will authenticate the claim and submit both copies of the Claim Form together with the documentation in a) to e) to Comarton for verification;

h) Comarton will check the details of the shares being claimed against its database and confirm the details by signing and returning the duplicate Claim Form to the custodian;

i) Upon receipt of the verification by Comarton the Custodian will release the shares to the client;

j) For foreign clients the Custodian will release the shares to the client’s appointee upon receipt of the required identification details;

k) A foreign client can also, through scanned identification and supporting documents, submit and issue an instruction to the custodian indicating where he/she would want the shares to be transferred or to whom the shares should be handed over;

Members of the public should follow the above procedures and make arrangements to claim their share as a matter of urgency.  Shares can only be collected by their respective owners or appointees with the General Power of Attorney upon production of sufficient and satisfactory proof of ownership.

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