14
COMPUTERSHARE REPORT TO SHAREHOLDERS 2000
CRACK
THE TRUE
REGIS
AS THE TRADITIONAL BORDERS OF FINANCIAL MARKETS
CONTINUE TO BLUR AND TECHNOLOGY RAPIDLY DRIVES
THE PACE OF CHANGE, WORLD MARKETS ARE REALISING
THE BENEFITS OF CONSOLIDATED REGISTER MANAGEMENT.
COMPUTERSHARE HAS ACKNOWLEDGED THIS DEVELOPMENT
AND TAKEN THE OPPORTUNITY TO LAUNCH THE WORLD’S
FIRST TRULY GLOBAL REGISTRY STRATEGY.
In time, as we move to implement our
technology systems in all of our international
offices, our clients are poised to benefit from
the advantages of a network of international
registries. These advantages will be particularly
relevant to companies involved in
demutualisation, those with multi-national
shareholders, employee share option plans
or multiple listings.
The Global Registry’s advantages include the
ability to facilitate efficient movement of stock
between registers in different countries (crossborder settlement of trades), consolidated
reporting on the shareholder database, and
the coordinated management and distribution
of corporate actions.
K OPEN
EGLOBAL
STRY
To maintain Computershare’s localised service,
each regional office has a relationship manager
who can manage the clients needs for
example billing and dividend distribution in
the currency of its choice. Also, shareholders
have the convenience of local inquiry facilities
and the future will see investors accessing
multi-market and global portfolio information.
One of the many exciting possibilities opened
up by a global registry is the capacity to offer
truly global shares. At present shareholders
in multiple jurisdictions (for instance as a result
of a cross-border merger) generally use some
form of depository receipt or other instrument
and incur additional costs that impose
inefficiencies on international shareholders.
However a global share, in association
with a global registry, allows holders in all
markets to hold exactly the same instrument.
The benefits of this include easier and cheaper
cross-border settlement, increased efficiency
of corporate actions and shareholder
communications, and access to up-to-date
consolidated reports of the whole register by
the issuer.
Computershare’s Global Registry can make
global shares a reality.
17
Of course it also simplifies administration,
because companies need only deal with one
supplier in multiple countries. Importantly,
one integrated database significantly eases
management of employee share plans,
which are often complex to administer,
especially for multi-national corporations.
COMPUTERSHARE GLOBAL REGISTRY
Global shares
Global Shares is a relatively new concept for listing a company’s
securities on multiple markets. Traditionally companies who
wanted to list or raise capital outside their home market would
issue another class of security – often a depository receipt
in the target market. Global Shares allow companies to issue
the same security with all the rights and entitlements of those
listed in the home market.
Computershare is uniquely positioned to support Global Shares
through its global registry presence, depository connections
and technology reach into the major markets around the globe.
15
COMPUTERSHARE REPORT TO SHAREHOLDERS 2000
The global registry
local access
global services
Experience the
difference
Our expertise in computer bureau systems has allowed us to achieve
enormous efficiencies in the areas of sharing resources across international
boundaries and specialised technology infrastructure. In addition, our
experienced staff are able to share their business expertise between
international offices, helping to facilitate productive and profitable operations.
NOON
EDINBURGH
DUBLIN
LONDON
CHANNEL ISLANDS
BRISTOL
3PM
6PM
Web Access to
register information
across the world
Online
information
Our online services provide investors and issuers
around the world with a comprehensive range
of web based information regarding share and
stock holdings and the company share register.
Issuer Online allows our clients to easily explore
their company register, view top holder reports
and have real time access to company information.
JOHANNESBURG
Investor Centre allows investors to view holding
balances, dividend details, and company share
prices as well as the ability to download a
range of forms to initiate changes to the register.
Further services for brokers, institutions and
advisers will be available soon.
UK/European/African regional support
9PM
MIDNIGHT
9AM
Resource rich
Our pool of experienced staff is always available
and can be seconded to any office around
the world to work on specific projects as needed.
CA
VANC
LOS ANGELES
Global incentives
HONG KONG
Our expertise in Employee Share Ownership Plan administration
has been identified as a significant growth market for Computershare,
particularly in the United States, where the total value of employee
holdings is estimated at approximately 7% of the market capitalisation
of all US companies. Plans are also being actively encouraged in the
UK market and are increasingly being used as incentives for employees
of companies around the world.
MANILA
While plan administration is a specialist function, there are substantial
synergies in operating this value-added function as an adjunct to the
core share registry/transfer agent function. Our technology integrates
plan and underlying share administration, enabling companies to deal
with a single service provider. In addition, our global position enables
us to better service large multinational companies whose employee
base is spread around the world. These advantages uniquely position
us to take advantage of this growing market opportunity.
ADELAIDE
With customer sup
we provide local a
investors, with the
in local currencies
management of th
to shareholders ac
24hour
BRISBANE
PERTH
Local
SYDNEY
AUCKLAND
MELBOURNE
Asia/Pacific regional support
technica
6AM
3AM
EDMONTON
ALGARY
COUVER
ST JOHN’S
QUEBEC
WINNIPEG
MONTRÉAL
TORONTO
CHICAGO
HALIFAX
CLEVELAND
NEW YORK
DENVER
Demutualisation team
DALLAS
The staff making up our Demutualisation team have managed some of the
largest privatisations and demutualisations in history, including Equitable
Life and John Hancock in the United States, Halifax and Powergen in the
UK, Old Mutual in South Africa, and AMP in Australia.
Our global registry abilities, combined with our demutualisation
management experience, give us a unique position in the offering
of these services.
access
pport centres in each country,
access for our clients and their
ability to manage client funds
. One example of this was our
he recent Old Mutual dividend
cross 49 countries in 5 currencies.
al support
North American regional support
Datacapture
Electronic Data Capture (EDC) collects large volumes
of information from shareholder forms via high speed
imaging systems, which interface directly into our
technology systems. The benefits for our clients and
us include fast and accurate data capture, lower data
entry costs and increased efficiency in the management
of company registers.
16
rs,7days
REGIONAL REPORTS
ESTABLISHED REGISTRY OPERATIONS
ESTABLISHED REGISTRY
OPERATIONS REPORT
Global
WHO ARE YOU AND
WHAT DO YOU DO?
REGIONAL
REPORTS
20
COMPUTERSHARE REPORT TO SHAREHOLDERS 2000
NOW THAT COMPUTERSHARE HAS
OFFICES IN EIGHT INTERNATIONAL
LOCATIONS, KEEPING TRACK OF
IMPORTANT DEVELOPMENTS CAN BE
CHALLENGING FOR SHAREHOLDERS.
AFTER INTERVIEWING MANAGEMENT
IN ALL REGIONAL OFFICES ACROSS
THE GLOBE, WE PRESENT THE
FOLLOWING CONVERSATIONS IN AN
EFFORT TO BRING YOU UP TO DATE
WITH COMPUTERSHARE’S ACTIVITIES
I am the Chief Operating Officer of the
Computershare Group of Companies.
Since our acquisition of registry and corporate
trust operations in North America we have
designated our North American businesses
as ‘emerging market’ and our existing
operations as ‘established registry’.
My role is to oversee the established registry
operations and to coordinate their activities
on a global scale.
In addition, I am the General Counsel of
the Computershare Group of Companies and
manage an internal legal function together
with the coordination of the many external
legal advisors to the Group.
It was intended that I would reside in the
United Kingdom this year to fulfil my
role and duties. However, the relocation
of our Managing Director, Chris Morris,
to Chicago to oversee our North American
operations meant that I was required to
remain in Australia and regularly commute
to our various international offices, principally
in South Africa and the United Kingdom.
WHAT EXACTLY IS THE
‘ESTABLISHED’ REGISTRY
AND WHAT IS ITS ROLE
IN THE GLOBAL REGISTRY?
The established registry operations around
the world include Australia, New Zealand,
Hong Kong, South Africa, the United Kingdom,
Ireland and the Channel Islands. These are
existing businesses that have been acquired
by Computershare over the past few years
and which have significant market shares
in each region.
Mark Elliott Chief Operating Officer
Computershare Limited
Our primary goal is to continue to make our
regional businesses competitive and profitable
through the use of innovative technology,
better service and efficient processes in the
day to day management of company registers.
The importance of the established registry
group is demonstrated in the acknowledgement
that it is the foundation of our global registry
since, when added to our North American
operations, it provides the basis for global
shares to become a reality.
WHAT IS THE FOCUS
FOR THE BUSINESS?
A vital element of our global registry is the
efficient management of our established registry
operations to ensure effective communication
and business development between our
respective offices around the world. I facilitate
this by overseeing and coordinating the activities
of these regional operations.
Our focus this year has been on the consolidation
of company infrastructure to ensure we have
businesses that have productive bases of
operations so that they can function effectively,
be competitive in their region and be in position
to aggressively grow the business for the future.
Effectively we are providing the infrastructure
to support these registry operations on a time
zone basis. The United Kingdom has
responsibility for South Africa and Ireland.
Australia and New Zealand are closely aligned
and North America is intended to be serviced
as a single market.
HOW ARE YOU ACHIEVING
THE GLOBAL REGISTRY?
We are in a unique position due to the fact that
we have multiple offices across many countries.
We are able to share our resources, both
technical and commercial, across international
boundaries in the daily operation of existing
operations and the formation of new businesses.
In particular, we’re able to draw on the wealth
of experience our global staff pool possesses
and share this expertise on specific projects,
amongst all of our offices, wherever it is needed.
This is certainly not limited to our registry
operations, but also includes our development
teams from Computershare Technology
Services. Together, they give us tremendous
advantages in the delivery and use of workable
technology systems that provide enormous
economies to the business.
REGIONAL REPORTS
GLOBAL ORGANISATION CHART
One example is the implementation of our
workflow and imaging products that will be
rolled out to specific offices over the coming
year. In the past the registry business’s
dependence on paper based information
has seen it suffer operational inefficiencies.
Workflow not only dramatically reduces
the reliance upon paper based information,
it streamlines business processes to increase
productivity and ensure data integrity.
Specifically, we are identifying existing clients
of our registry operations that are listed on
multiple stock exchanges or that have
employees resident in overseas jurisdictions
or that are natural candidates to issue global
shares as a consequence of their multiple
listings on overseas exchanges. In each
instance we are able to coordinate the
provision of services in multiple jurisdictions
and to provide a unique, cost efficient and
seamless service to our clients.
United States of America
Steven Rothbloom
North American
Operations
Chris Morris
Canada
Russ Waterhouse
Managing Director
and Chief
Executive Officer
Chris Morris
Australia
Hamish Gidley–Baird
This is just one of many services we expect
to implement over the coming year.
WHAT ARE YOU EXPECTING
FOR THE FUTURE FROM THIS GROUP?
In the future we are focusing on providing a
more efficient service with enhanced service
levels and reduced costs achieved through
technology enhancements and the
rationalisation of premises and infrastructure.
In addition, we are proposing a rollout of
products and services across all registry
operations that will provide a generic service
at world’s best practice for clients of our
registry operations. This rollout of technology
is predicated on a coordination of our existing
operations together with our newly acquired
North American operations such that
Computershare may truly be regarded as
a global registrar of first choice.
United Kingdom
Ed Stockdale
Established Registry
Operations
Mark Elliott
Europe
Julian Leiper
Ireland
Trevor Watkins
KEY PERSONNEL
South Africa
Frik Vermaak
New Zealand
Mike Smith
Hong Kong
David Lee
21
At each registry location we rely on key
personnel in the day to day management
of the business activities. In the following
pages you will find the reports of each distinct
location and it is my pleasure to be able
to assist our highly motivated and competent
management team to achieve our global
goals and ambitions. I wish to extend
my thanks to all concerned and look forward
to an even more successful year ahead.
REGIONAL REPORTS
GLOBAL
TECHNOLOGY SERVICES
Global
WHAT ARE YOUR OBJECTIVES
FOR THE DIVISION?
HOW IS COMPUTERSHARE’S NEW
TECHNOLOGY DIVISION MANAGING?
We have a list of universal objectives we’d like
to promote that includes high quality services,
a set direction for our systems design and
products and the encouragement of opportunities
for personal/career development within a
team environment.
The establishment of the CTS group, which
involved the broker and exchange group,
registry development groups, IT support
and customer service, has already born fruit
with increased sharing of resources,
the prioritisation of tasks and more focused
initiatives. Staff numbers across the various
operations are growing and presently number
more than 350.
The management restructure at the Sydney
office is now complete. The new management
team will coordinate and motivate staff within
the product lines to ensure CTS objectives
are met.
The Melbourne SCRIP development and
operational team is continuing to perform well
and is involved in a number of special events,
such as the Colonial and CBA merger and USA
system design and implementation. In addition,
the new systems group is building into a
cohesive team. We are now planning the
transition of staff from SCRIP into the new
COSMOS technologies and have established
staff training programs accordingly. This will
herald the first stage of our planned COSMOS
release for the Australian market next year.
WHAT ARE THE MAIN
RESPONSIBILITIES OF CTS?
Simply put, we see CTS providing our various
business units with the best tools to perform
their functions, whether it be in registry services,
support, customer service or any of our
exchange or broker applications. In addition,
we are responsible for the building, support
and maintenance of all technology hardware
and infrastructure.
While local support for hardware and
infrastructure is always required, we do not
need experts on certain systems at each
site. Therefore we resource the development
group in one location to pursue the initiative
to a sufficient level for it to be able to
implement the technology in other offices
around the world.
WHAT HAS CTS BEEN DOING?
Obviously due to the fact Computershare is a
technology company, we have been very busy
and will continue to be so during the coming
year. Large projects include the demutualisation
of Old Mutual in South Africa, Birmingham
Midshire’s merger with Halifax, Telecom
Eireann, handling 3 million voters for Automobile
Association (AA) in UK,1.8 million voters
for NRMA in Australia plus the second phase
of the privatisation for Telstra.
Meanwhile, there was the completion of the
migration of clients onto SCRIP in South Africa
and development of an interface for its new
settlement system ‘STRATE’. We also plan
significant enhancements to our web deliveries
such as Issuer Online, Investor Online,
Exempt Markets, online IPO’s and improved
price and statistical information for investors.
We have refocused on SUMMIT, our broker
accounting system for Australia and New
Zealand, and signed new clients to ORMS.
During the year we implemented ASTS
for the NZSE while successfully completing
systems in Istanbul, Budapest and Oslo.
In addition, the relationship with the Pacific
Exchange (PCX) in San Francisco, a tier
one exchange, promises new and exciting
global opportunities for CTS.
WHAT ARE YOUR CHALLENGES
FOR NEXT YEAR?
22
COMPUTERSHARE REPORT TO SHAREHOLDERS 2000
We’re customising registration products
for the North American market including
full functionality to support employee share
plans. We are also very keen to explore new
technologies and infrastructure to support
the Group. We’re confident of a challenging
and rewarding year ahead.
Penny Maclagan Managing Director
Computershare Technology Services (Global)
REGIONAL REPORTS
AUSTRALIA
TECHNOLOGY SERVICES
Australia
COULD YOU OUTLINE SOME OF
THE YEAR’S ACHIEVEMENTS?
It has been a very rewarding year for
Computershare Technology Services (CTS),
the technology division of the organisation.
We are already seeing huge benefits as a
result of the efficiencies gained by the pooling
of our development and support resources in
Australia, and we expect this to flow through as
a positive contribution to our financial earnings.
WHAT HAVE BEEN THE
MAJOR ACTIVITIES
FOR THE SCRIP TEAM?
It has been another hectic year for the
Australian SCRIP programming team.
Major activities included processing
approximately 750,000 entitlement
acceptances for the Telstra 2 issue, which,
when combined with the existing shareholder
base, created a company with more than
2 million shareholders.
In January this year we completed a successful
Y2K project that took a great deal of resources
from our team, and we passed all critical dates
without any hitches.
In April this year NRMA members passed
a resolution to demutualise the company
and list on the Australian Stock Exchange.
We converted approximately 2.1 million
shareholders onto our SCRIP registry system,
processing 1.6 million voting forms.
As a result of the vote being successful, in early
August we processed the election instructions
from members (to keep or sell their entitled
shares) and receive money to support an option
to purchase more shares. The resulting company
listed on August 8 with 1.66 million shareholders.
WHAT ABOUT ASTS?
The latest version of the ASTS trading system,
which now includes futures and options
trading functionality, was completed late last
year. The development of the options trading
functionality has been well received by the
securities market and it positions the product
well to capture future business.
In conjunction with Hewlett Packard, Tantau
Corporation and the New Zealand Stock
Exchange (NZSE), Computershare demonstrated
share trading on NZSE’s ASTS trading system
using WAP (wireless application protocol)
technology. Orders were entered into the
trading system via the WAP enabled mobile
phone and automatically matched to produce
trades – the first time share trading has
been conducted via a mobile phone anywhere
in the world.
WHAT IS THE ORMS TEAM DOING?
Last year we saw the introduction of electronic
trading on the Sydney Futures Exchange (SFE)
with clients using our ORMS product for direct
connection and trading on the SFE’s SYCOM IV
trading system.
Version 5 of ORMS, much improved in performance and incorporating the latest distributed
architecture technology CORBA, will be
released in late 2000 to all clients. Meanwhile,
one of our new clients, Commonwealth
Bank’s Futures business will include deployment
and inter-connectivity of ORMS to their trading
partners in the USA and UK.
In addition, our recently developed new
gateway infrastructure, which allows the rapid
development of new gateways to stock
and derivatives exchanges, will add greatly
to the product’s functionality and attract new
business for us.
Another highlight for the year was the February
release of Computershare’s Exempt Market
System, which was established to provide
trading in Australian Barley Board shares.
23
Carol Clough General Manager
Computershare Technology Services (Australia)
REGIONAL REPORTS
AUSTRALIA
WHAT HAS KEPT THE
SUMMIT TEAM BUSY?
HOW DO YOU KEEP
STAFF SKILLS UP TO DATE?
We’ve worked hard to develop a more robust
product, and further develop our straightthrough processing module. Our relationship
with E–Trade over the past year has been
extremely positive as we continue to grow
with their expanding business.
Our training department has been involved
in a diverse range of activities during the year,
including the coordination and support for
in-house and out sourced training and education
programs, staff induction, and a host of utility
applications used for the development and
support of our products.
WE HEAR THE SMARTS
PRODUCT IS DOING WELL
The team has continued to provide training
not only for staff in Australia, but also for
our colleagues from our international offices
visiting Australia, including the United Kingdom,
North America and Hong Kong.
Mid 1999 saw the SMARTS system implemented at the Hong Kong Stock Exchange
and the Hong Kong Securities and Futures
Commission. Around the same time,
the Oslo Bors trialed SMARTS and immediately
agreed to sign a full agreement. To quote
Oslo’s Market Watch Manager: ‘The actual
job of investigating irregularities has become
easier, and the information more accessible,
with SMARTS. We can dig deep in a way we
were not able to before.’
A significant development during the past
12 months has been the introduction of
SMARTS Analytics, an application that enables
brokers to simultaneously identify trading
opportunities in multiple markets. We see
great scope for this product as cross border
trading and exchange alliances influence
change in global markets.
WHAT’S NEW ON THE WEB FRONT?
24
COMPUTERSHARE REPORT TO SHAREHOLDERS 2000
Our continued commitment to web-based
applications was demonstrated earlier
this year in the formation of a global web
development group, drawing resources from
our offices in Sydney, Edinburgh and more
recently, the United States.
The team has worked hard to produce our
new global web site, computershare.com,
and a range of online services for companies
and investors.
WHAT’S HAPPENING WITH NEW
TECHNOLOGY DEVELOPMENTS?
The COSMOS system is being delivered
incrementally as a software architecture
that supports, enhances and extends
Computershare’s widely implemented
SCRIP registry technology base.
The system is evolutionary in nature,
building on the valuable work invested in
the current systems. It uses the Microsoft™
COM (Component Object Model) technology
to integrate our VMS-based technology into
a Windows™environment, allowing us to take
advantage of the wide range of friendly
development tools that produce modern and
efficient business processes delivered through
user desktops, the web, imaging, workflow
and IVR. Our intellectual property is thus
re-used and extended, with new information
and improvements combined to create new
services for our clients.
The possibilities of our approach are broad,
and thus far we have successfully delivered
COSMOS architecture products in messaging
interfaces, investor relations products, internal
billing applications and Computershare’s
upcoming product for investors.
WHAT’S BEEN HAPPENING
WITH THE ELECTRONIC DATA
CAPTURE SYSTEM?
Since the introduction of EDC into the business
we have been able to process large numbers
of registry forms quickly, efficiently, and most
importantly, accurately.
Together with our partner Ci, a great deal of
development work has been done in the
area of form design. These forms have been
created specifically for the purposed of EDC,
allowing us to capture information such
as annual report requirements, direct credit
details, tax file numbers, and proxy voting
instructions for annual general meetings.
One of the biggest EDC jobs processed recently
was capturing NRMA members’ voting intentions
for the approval of the demutualisation.
In total some 1.6 million forms were scanned,
and voting intentions of the members
captured, in just four weeks.
The next development in the scanning area is
to use our technologies to incorporate a
workflow system into the registry environment.
This will eventually see all forms of paper
received by the registry scanned, creating an
image that can be electronically passed onto
either an operator to process, or be stored
on the system for future reference.
Development of workflow has commenced
in our UK office and is presently undergoing
trials to establish the framework which we
can roll out to the rest of the world.
Australian statistics
STAFF
REGISTRY SERVICES
Australia
559
SHAREHOLDER ACCOUNTS
10.85 million
(18.9 million including CTS bureau)
COMPANIES
882
MARKET SHARE
60%
COMPUTERSHARE PRODUCTS IN THE REGION
ADELAIDE
BRISBANE
MELBOURNE
PERTH
SYDNEY
SCRIP, SUMMIT, CHAMP
HAMISH, CAN YOU GIVE US
AN OVERVIEW OF THE YEAR?
We have had a great year. A strong financial
performance and an impressive increase in
shareholder numbers has helped to consolidate
our position as the leading share registrar in
Australia. As a consequence our staff numbers
have grown to support our larger client base,
something we see as critical in the continuation
of high service levels to our clients and their
shareholders.
A major review of work processes has
resulted in a restructured client service area
and an expansion of management to include
business development communication
strategies and Information Technology.
This is particularly important as Computershare
continues its development of technology
applications for use within the registry
businesses here and around the world.
Specifically, the web-based products are
enabling information flow and communication
with our clients and their shareholders to
be more efficient, and we see our investment
in this area as testament to our commitment
to the evolution of registry services.
The implementation of additional web services
for client ‘Issuer’ companies (Issuer Online)
and their investors (Investor Centre) is just the
start of a comprehensive range of web-based
market services we expect will roll out in future.
A highlight for the year included the joint
venture with our IT provider, Computershare
Technology Services, to deliver an exempt
market product for the Australian Barley Board.
The exempt market is a fast and simple way
for our clients to offer their shareholders some
liquidity without acquiring the full range of
obligations that come with a stock exchange
listing. The service has been a great success
and we anticipate other clients will take
advantage of it in the near future.
An important point to mention is that this
year we became a member of Austraclear,
which enables us to provide a clearing facility
to Australia’s major domestic wholesale
bond market. Thus we see new opportunities
for business in this area in the coming year.
We are happy to report that we have retained
our major clients whose registry business
we re-proposed for during the year including
Coles Myer Ltd, John Fairfax Holdings Ltd and
Publishing & Broadcasting Limited.
25
Hamish Gidley-Baird Managing Director
Computershare Registry Services (Australia)
REGIONAL REPORTS
AUSTRALIA
WHAT WERE SOME OF THE MORE
IMPORTANT PROJECTS COMPLETED?
WHAT DOES THIS NEXT YEAR
HOLD FOR YOU?
COMPUTERSHARE
ANALYTICS
In Queensland we acted as registrar in the
IPO for TAB Queensland. In South Australia
we developed the Exempt Market for ABB
Grain Ltd (formerly the Australian Barley Board).
In Western Australia we handled the merger
of Armstrong Jones with Heine Property
Fund for 50,000 holders and were appointed
registrars in the upcoming AlintaGas float.
In Victoria we successfully tendered for the
ANZ Bank register and acted on behalf of
Colonial Limited in the merger with the
Commonwealth Bank. New South Wales
also performed strongly and we conducted
all the major meetings for NRMA, a large
motoring organisation that has recently
demutualised, processing 1.56 million proxy
forms. We also successfully tendered for
the Commonwealth Bank Investment Bond
register and acted on behalf of AMP in the
income securities allotment to approximately
60,000 GIO shareholders.
With the formation of joint ventures in our
domestic market we are entering a new stage
of market competition and have increased
our client service groups to meet this challenge
head on. A heavy focus is also being placed
on training and the integration of global
technologies, rather than the development
of localised solutions in isolation.
WHAT HAS COMPUTERSHARE’S
INVESTOR RELATIONS DIVISION
BEEN DOING?
WHAT’S BEEN GOING
ON AT AN OFFICE LEVEL?
26
COMPUTERSHARE REPORT TO SHAREHOLDERS 2000
During the year we implemented many
changes to our state offices to consolidate
our infrastructure resources and manage
our expanding client list. Brisbane office
relocated to a new floor with in the same
building, Sydney office took over an
extra level in its building to help process
the NRMA meeting transactions, and the
Melbourne office has taken another level
to expand its telephone call centre.
Our efforts to support Computershare’s
global registry plan saw a number of our most
experienced staff on secondment overseas.
This included Malcolm Bramley spending
ten months in South Africa where he acted
as Managing Director in the formation
of the registry operation in that region.
Roslyn Brierley also moved to the USA to
provide her many years of expertise to the
new operations in North America.
We are also in the process of taking delivery
of the Electronic Security Holder
Communication Service (ESCS), which will
allow investors to elect to receive information
via e-mail. This service will be operating by
the end of this year.
Meanwhile, the roll out of generic ‘clientbadged’ forms enabling data to be captured
electronically has allowed significant
improvement in overall register management.
We expect this form of information collection
to be a strong contributor to the
redevelopment of our business processes.
I would like to extend my thanks to all CRS
staff for another successful year. We’re full
of enthusiasm for a challenging year ahead
as we deliver the Computershare difference
to our customers here and around the world.
In a very successful first full year of operation,
Ian Matheson and his Computershare Analytics
team has expanded its range of services
and built up an impressive client list of blue
chip Australian, New Zealand, South African
and United Kingdom companies and trusts.
Analytics delivers a comprehensive range
of strategic investor relations services,
including share ownership analysis, proxy
solicitation and share trading analytical services
to listed companies and trusts, regardless
of who manages the share register.
The role of investor relations in the modern
listed corporation is rapidly evolving in a
world where competition for capital requires
greater emphasis on effective communication
with investors. It is Analytics’ mission to
stay abreast of such changes, whether they
are technological or regulatory in nature,
and to ensure it provides a comprehensive
range of leading edge and cost effective
solutions for its clients.
Ian’s highlights during the year include
publishing the first detailed survey of
investor relations content on the websites
of every issuer on the Australian Stock
Exchange, and the advent of online delivery
of share ownership reports through
Computershare’s Issuer Online Service
(www.computershare.com).
Ci
Australia
WHAT’S BEEN HAPPENING
AT Ci LIMITED?
It has been an eventful year, with Ci expanding
its operations through acquisitions in Sydney
and New Zealand. The addition of these
businesses now gives Ci the ability to fully
service the registry needs of Computershare
in three countries, including the printing of
statements and dividends and the
management of other registry requirements.
Recent developments include Ci commencing
an internal print and mail facility for
Computershare Investor Services in Chicago
USA, which will enable the majority of the
registry printing needs to be handled internally.
Some exciting new e-commerce initiatives
were launched by Ci’s consulting division
during the year including the design
and development of web-based solutions for
clients, and the trial of an electronic bill
presentation and payment system. Ci helps
clients in the formulation of documents and
business processes to give a totally integrated
communications solution covering CD-ROM,
e-mail and on-line document delivery.
WHAT’S THE OUTLOOK
FOR THE YEAR AHEAD?
Ci expects 2001 to be a period of consolidation
as it beds down its recent acquisitions
and continues to work on streamlining the
processes and procedures used across all its
business units.
The acquisitions combined with solid organic
growth and the first full year’s trading
from the UK subsidiary Ci (UK), saw revenue
increase 230% over the year. The Ci Group
now employs 327 people.
WHAT NEW OFFERINGS HAVE YOU
RELEASED FOR CLIENTS?
New developments made for the Australian
registry operations during the year include
a turnkey solution for standard product
design, such as EDC forms, with an electronic
link to SCRIP, and standard modules for the
printing of company dividend cheques. In using
a systematic approach to the design and
development of these modules, involving both
registry and Ci staff, the group should enjoy a
significant competitive advantage for the future.
27
SMART INFORMATION
MANAGEMENT SYSTEMS FOR A
VAST ARRAY OF CUSTOMERS
REGIONAL REPORTS
UNITED KINGDOM
TECHNOLOGY SERVICES
United Kingdom
SUMMARISE YOUR RECENT
MAJOR ACHIEVEMENTS
As usual the SCRIP development team has
been kept busy with ongoing maintenance
to the system to meet client requests
and amendments to statutory requirements.
We developed Phase 1 of the workflow project,
which will provide enormous benefits for our
registry businesses around the world by
dramatically reducing reliance on paper-based
information flow.
In September 1999 the Oslo Bors began
live trading in bills and bonds using
ASTS. In addition, the second phase of the
Budapest project has now been completed,
delivering automated derivatives trading
for the Hungarian market. This includes the
developments of futures and options trading
for ASTS. The system is currently undergoing
final acceptance testing and is on schedule
to go live in October 2000. As usual we
continue to provide support for our client sites
in Helsinki, Budapest, Cyprus and Russia.
Also of note was the commencement of trading by
the Istanbul Stock Exchange using our ASTS
bills and bonds trading system in July last year,
and the Cyprus Stock Exchange commencing
trading on the equities trading system in May
this year.
OUTLINE ANY SCRIP
DEVELOPMENTS?
The completion of the SCRIP migration was
a great success with all companies now on our
registry system. The roll out of UK compliant
takeover software was a huge success and
was used in the complicated Natwest – Royal
Bank of Scotland and Thomson Travel takeovers.
Many thanks go to the Australian-based
UK software development team for their hard
work in delivering the software on time for use
in these important projects.
ARE YOU SUPPORTING
ANY MAJOR NEW CLIENTS?
28
COMPUTERSHARE REPORT TO SHAREHOLDERS 2000
Yes and they include, in no particular order,
Marconi with 180,000 holders, Aer Lingus
(future IPO) with up to 1 million holders
and Totalise with 55,000 holders. It was also
recently announced that Computershare would
manage Bradford and Bingley’s demutualisation
of its 2 million members later this year.
Martyn Drake General Manager
Computershare Technology Services (UK)
WHAT ARE YOUR EXPECTATIONS
FOR THE YEAR AHEAD?
We remain dedicated to supporting our
existing European exchange clients in
Oslo, Helsinki, Budapest, Cyprus and Russia,
and our domestic role will see us assisting
the expanding Dublin office as it moves
to larger premises later this year. Of course
we continue to support the technical
requirements of our South African office.
This year will see the operations department
focusing on service delivery, with 24-hour
cover where necessary. Other priorities include
further software development and support
of EDC (Scanning), phase 2 of the workflow
process, and enhancements to the employee
share scheme systems, including an
automated reconciliation system.
Customer service commitments already include
the migration of Bank of Ireland clients onto
SCRIP, the Bradford and Bingley demutualisation,
the Aer Lingus privatisation and the
implementation of the STRATE interface (South
Africa’s new electronic settlement system).
As you can see we’re in for another busy year.
United Kingdom statistics
STAFF
REGISTRY SERVICES
United Kingdom
1,106
WHAT HAVE BEEN YOUR
CHALLENGES THIS YEAR?
SHAREHOLDER ACCOUNTS
17.85 million
During the year we completed the migration
of all company registers from the Royal Bank
of Scotland’s registry system to
Computershare’s SCRIP system, as well as
the subsequent data conversion from our
acquisition of Exchange Registrars in Wales.
COMPANIES
705
MARKET SHARE
35%
COMPUTERSHARE PRODUCTS IN THE REGION
SCRIP, ORMS, CBS, ASTS
I’m very pleased to report the management
team has been further strengthened by the
appointment of Senior Executives in Human
Resources, Shareholder Services, Client
Services and employee share schemes.
DO YOU HAVE ANY
NEW MAJOR CLIENTS?
We were appointed as Receiving Agent and
Registrar for the demutualisation of Bradford
and Bingley Building Society, the biggest
registry contract awarded in the UK this year
with around 2.7 million qualifying members
and a starting register of around 2 million
shareholders.
Notable achievements also include
administration of the takeover of NatWest
Bank by the Royal Bank of Scotland
and, in November 1999, we took on register
administration for Marconi Plc’s 200,000
shareholders. This latter job was particularly
pleasing to win because it demonstrates
Computershare’s global registry advantage
perfectly, in terms of local access for
Marconi’s UK shareholders and global service
for the company.
We also took on 37 new registers during
the year with more than 350,000 new
shareholder accounts.
Ed Stockdale Managing Director
Computershare Services (UK)
29
BRISTOL
EDINBURGH
LONDON
REGIONAL REPORTS
UNITED KINGDOM
WHAT’S BEEN HAPPENING
WITHIN THE OFFICE?
The move to our new premises was a total
success and we have completed centralising
all Bristol staff at The Pavilions with further
accommodation improvements in progress.
We are also supporting the operations of South
Africa, Ireland and the Channel Islands during
the year as well as SCRIP support and training.
We see this as a great benefit for us and for
our international colleagues, as the advantages
of our global business become apparent with
technical and operational support across three
major time zones.
As part of our commitment to the local
market we continue to support industry
groups through sponsorship and participation
in industry forums, and to this end we would
like to congratulate Tom Morrison on his
appointment as Chairman of the Institute
of Chartered Secretaries and Administrators
Registrars Group.
WHAT HAVE BEEN THE
DEVELOPMENTS IN
THE USE OF TECHNOLOGY?
Ci
United Kingdom
We significantly upgraded our call centre
technology and in doing so were able to handle
more than 10,000 calls daily from shareholders
involved in the Natwest / Royal Bank takeover.
One important aspect of our improved call
centre technology has been the Intranet site
providing all staff with access to a myriad
of client and shareholder information.
Meanwhile, imaging and workflow technology
is currently being phased into our UK
operations and will be progressively rolled
out to Computershare sites worldwide.
Employee share plan administration was
greatly enhanced through the introduction
of the SCRIP-based Employee Share
Dealing System and the COSMOS-based
Contributions System, which will process
and balance payroll deductions related
to employee ‘Save As You Earn’ schemes.
WHAT ARE YOUR PLANS
FOR THE YEAR AHEAD?
30
COMPUTERSHARE REPORT TO SHAREHOLDERS 2000
We expect growth in employee share plan
administration following the enactment
in the UK of the All Employee Share Scheme.
Internet capabilities for replacing traditional
registry processing functions will also be
a focus in the coming year with Internet-based
IPO’s a major driver. We also expect the full
impact of the imaging and workflow system
to be realised. A major focus will be placed
on targeting new registry maintenance
business and an increase in strategic alliance
and relationship building.
HOW HAS THE PAST YEAR
BEEN FOR Ci (UK)?
The past 12 months has been a period of
great change for Ci (UK). Having successfully
integrated the laser print and mailing functions
of Computershare Services UK into one site,
we further increased capacity last year with
significant investment in additional hardware
and machines . This ensures that the everincreasing volumes generated by our UK
registry can be dealt with in house, thereby
enhancing the one-stop-shop philosophy that
has helped make Computershare so successful.
In January this year Ci launched its services into
the premium commercial laser and mail market.
Ci now has the capability to meet commercial
clients’ needs for the highest quality document
design and print. With more than 700 UK
public companies as current registry clients the
potential is enormous, and we already have
a major UK utility as a client.
WHAT DO YOU SEE
FOR THE YEAR AHEAD?
The coming year is expected to show further
strong growth with the seasonal peaks and
troughs that are part of the registry business
being smoothed out by long-term commercial
contract work. Employing 90 full-time
employees, which will rise to more than 100
next year, the business is expected to process
some 40 million documents during the next
12 months.
We have a clear strategic direction and our
future growth is now linked not only to that
of our parent registry business, but also
to an increasingly independent revenue stream
from the commercial sector. These revenues,
combined with high quality staff, should
ensure our business continues to expand.
EVERY CUSTOMER
IS IMPORTANT
REGIONAL REPORTS
UNITED STATES OF AMERICA
United States statistics
STAFF
431
TRANSFER AGENCY
SERVICES
United States of America
SHAREHOLDER ACCOUNTS
4 million
CHICAGO
CLEVELAND
DALLAS
DENVER
LOSANGELES
NEW YORK
COMPANIES
1,600
MARKET SHARE
5%
COMPUTERSHARE PRODUCTS IN THE REGION
ASTS, SCRIP
HOW’S BUSINESS GOING FOR
COMPUTERSHARE IN THE USA?
Since March when we officially took control
of the business it has really been a case of
managing the operation to ensure our clients
receive the best service possible. We are
now the fourth largest transfer agent in the
US and we recently became a trust company.
We have put together a highly experienced
demutualisation team for the North American
market and we’re confident the group will win
new business for us.
We are also off to a great start getting
Computershare’s name established in the
marketplace, thanks in no small part to Kay
Liederman Van Dam and Trine Nielsen and
their Business Development and Relationship
Management teams.
It is reassuring to know that our primary goal
of client retention is being achieved, with over
90% of client companies signing on with us.
We’ll continue to work hard to justify their faith
and win new business.
The first dividends whilst operating as
Computershare Investor Services have just
been paid, further spreading our name and
recognition across North America. Recently
senior management attended the Annual
American Society of Corporate Secretaries
conference where we found an extremely
interested audience eager to hear the
Computershare story. I must congratulate
Chris Morris, whose well-received presentation
clearly outlined our credentials as the largest
and only global transfer agent in the world.
Over the year we successfully handled one
of the most complex corporate actions in our
history with Hewlett Packard spinning off one
of its divisions to form Agilent Technologies.
I am also pleased to announce the Intel
and Apple stock splits were a huge success
for these two large clients.
SO HOW ARE YOU SETTLING INTO
THE NEW CHICAGO HEADQUARTERS?
Everyone’s really happy since moving to our
new Chicago facilities and I really want to
thank Greg Chrisp whose experience, leadership
and optimism ensured the whole move
happened smoothly.
31
Steven Rothbloom President
Computershare Investor Services (USA)
REGIONAL REPORTS
UNITED STATES OF AMERICA
TELL US ABOUT THE ACCOUNT
CONVERSION PROJECT
We spent many months converting all our
shareholder accounts from our previous system
to a customised platform we’ve named
PowerServe. We now have a stable system and
can devote more time to converting the Montreal
Trust acquisition to Computershare’s SCRIP
system before we do the same here.
STEVE, WHAT MAJOR NEW CLIENTS
SHOULD WE KNOW ABOUT?
In no particular order they include Apple
Computers Inc, Agilent Technologies Inc,
Lafayette Life Mutual Holding Company’s
reorganisation and Phoenix Home Life.
It is also important to note several large
corporate actions that we successfully handled,
such as the merger of Nevada Power Company
with Sierra Pacific Resources, the cash
merger of Bankers Trust Corporation by
Deutsche Bank and the acquisition of Premark
International Inc by Illinois Tool Works Inc.
WHAT TECHNOLOGY DEVELOPMENTS
HAVE YOU UTILISED?
This has been a really exciting area particularly
in relation to web access. Soon clients,
their shareholders and employees will be using
Computershare’s Issuer Online and Investor
Centre web applications. Another exciting
development is our premium employee
plan system dedicated to clients requesting
multi-currency, multi-lingual capabilities.
We also expanded proxy and Internet voting
to key clients throughout the US.
32
COMPUTERSHARE REPORT TO SHAREHOLDERS 2000
WHAT ARE YOUR EXPECTATIONS
FOR THE YEAR AHEAD?
Now the initial start-up period is completed
our focus is squarely on client retention and
growing the business in the biggest
shareholder market in the world. We plan to
significantly expand our core transfer agency
business over the next three years and
move our core system to Computershare’s
Scrip system. We also want to develop an
international employee plan and demutualisation system to support our team of nationally
recognised demutualisation experts who
have formed our demutualisation services
group for the North American market.
Meanwhile our immediate focus is to
concentrate on customer satisfaction and
improving productivity within the business
as we tackle the challenges of the year
ahead of us.
REGIONAL REPORTS
CANADA
Canada statistics
TRANSFER AGENCY
SERVICES
Canada
STAFF
1,100
SHAREHOLDER ACCOUNTS
HOW ARE THINGS PROGRESSING
IN CANADA?
6 million
COMPANIES
3,560
MARKET SHARE
60%
COMPUTERSHARE PRODUCTS IN THE REGION
ORMS
We now manage almost 6 million shareholder
accounts and represent more than
3,500 companies in the Canadian market.
It’s been a hectic six months since we joined
Computershare but we’re quickly finding
our feet and getting on with servicing clients
with the best Computershare has to offer.
Our move in August to new premises
in Toronto made an enormous difference,
giving us real identity, confidence and a new
starting point for chasing business.
We’ll also be moving forward on the integration
of the Bank of Montreal business, which will
involve integrating about 40 staff in Montreal
and 20 in Toronto.
We’re very excited to announce that our portfolio
still includes most of Canada’s major corporations
including Nortel, the Royal Bank of Canada, Air
Canada, Merrill Lynch and the Bank of Montreal.
CALGARY
MONTREAL
TORONTO
VANCOUVER
HOW ARE YOUR STAFF COPING?
Really well, our talented and energetic staff
base has just hit 1,100 with the addition
of the newly acquired corporate trust business.
During the year we successfully conducted
employee meetings and gave presentations
to all staff across Canada to fully brief them
about Computershare and how the acquisition
would affect them. These information sessions
were well received by all the staff – we got a
lot of positive feedback.
WHAT’S IN STORE FOR 2000/2001?
Our main focus is client retention, which
will involve improving the breadth and quality
of services to shareholders but we’ll also be
working hard to establish the necessary
corporate infrastructure in the areas of finance,
technology, human resources and corporate
policy associated with any new business.
We’re also committed to developing synergies
with Computershare USA to share our resources
and provide new opportunities and services
for our clients.
An important part of the year ahead will involve
getting our name out to the Canadian market
so everyone knows who we are and why we’re
here. We see this as an exciting opportunity to
communicate the Computershare difference to
the market here.
Meanwhile, in the background, our IT division,
Computershare Technology Services, will be
looking at the introduction and future use of
SCRIP in the Canadian environment. This is
a big job, but it will provide enormous benefits
for us in the way we run the business and
service our clients. Fortunately, we have a great
team of experienced development staff from our
offices around the world to make it all happen.
All the staff here are very excited at the
possibilities for the year ahead.
33
Russ Waterhouse President
Computershare Investor Services (Canada)
REGIONAL REPORTS
IRELAND
Ireland statistics
STAFF
REGISTRY SERVICES
Ireland
70
SHAREHOLDER ACCOUNTS
850,000
COMPANIES
96
MARKET SHARE
60%
COMPUTERSHARE PRODUCTS IN THE REGION
SCRIP
DUBLIN
HOW WOULD YOU
DESCRIBE YOUR YEAR?
Throughout the year the level of stockmarket
activity remained high and the introduction
of so many new shareholders through the
Telecom Eireann float had a knock-on effect
on overall market activity, resulting in new
holders on existing company registers.
It is expected that this high level of activity,
together with many new shareholders coming
into the market, will continue this year.
Our staff numbers have doubled from 35 to
70 in the past 12 months, so to accommodate
this we will move into new premises by the
end of the year. In fact the size of the Dublin
office now warrants a social committee to
support the wide range of entertainment arising
from Dublin’s booming economy. During the
year, particularly the second half, we have had
a number of people seconded from Bristol
and Edinburgh and they continue to enjoy our
busy work schedule and social atmosphere.
WHAT WERE THE
MAJOR ACHIEVEMENTS?
34
COMPUTERSHARE REPORT TO SHAREHOLDERS 2000
The completion of the Eircom (previously
Telecom Eireann) IPO was a milestone
for us, adding 574,000 holders to our register,
a record for Ireland. We were also very
excited to be appointed Receiving Agent to
Aer Lingus for its upcoming IPO. Of course
the acquisition of Bank of Ireland Share
Registry was a major event, and we should
see another jump in our shareholder numbers
once we have completed the migration onto
the SCRIP system later this year.
A significant event was the approval by the
Central Bank for Computershare to operate
in the International Financial Services
Centre in Dublin. The approval was obtained
with considerable input from Eoin Rennie,
our Compliance Officer in Edinburgh, resulting
in a strong flow of new work.
Trevor Watkins Managing Director
Computershare Services (Ireland)
OUTLINE THE INCREASE IN
SHAREHOLDER MANAGEMENT
DURING THE YEAR
As mentioned earlier, the biggest development
was the Eircom float, which added nearly
575,000 holders to our system. Meanwhile,
Canada Life brought us 55,000 shareholders,
the Greencore Group 13,000 and SAYE
Schemes around 30,000 holders.
All up, shareholder accounts now total
close to 850,000 and we expect this
to reach around 1.1 million following the
Bank of Ireland migration. We manage
96 companies at present and expect that
number to jump to 121 with the inclusion
of the Bank of Ireland registry.
WHAT DO YOU EXPECT
FROM THE YEAR AHEAD?
The year ahead is shaping up as another
good one, with a number of major challenges
including the Aer Lingus float, a secondary
offer in Eircom and a possible Eircom Internet
float. The advent of SAYE Schemes in Ireland,
together with enhanced tax incentives for
employee share schemes, will ensure this
is one area of high growth in the coming year.
This will be of particular importance to the
Group because approximately 400 major
US companies operate in Ireland, and given
our market share it’s expected we would
provide administration services to the majority
of their employees.
Overall another great year for Computershare
is expected with the booming Irish economy.
REGIONAL REPORTS
SOUTH AFRICA
South Africa statistics
STAFF
REGISTRY SERVICES
South Africa
295
SHAREHOLDER ACCOUNTS
1.75 million
COMPANIES
210
MARKET SHARE
60%
COMPUTERSHARE PRODUCTS IN THE REGION
SCRIP
WHAT ARE THE YEAR’S CHALLENGES?
The past year was a period of consolidation
with major emphasis on the merger of
our two acquired South African companies
to form Computershare Services (South Africa),
while managing the demutualisation
of Old Mutual and servicing our client base.
I would like to thank Malcolm Bramley from
CRS Australia, who spent ten months managing
our office prior to my arrival, for all his efforts
in successfully establishing our presence here
in South Africa.
Highlights for the year include the successful
processing of Old Mutual’s maiden dividend
and the dematerialisation of the first company
onto STRATE, South Africa’s new electronic
settlement system.
JOHANNESBURG
The migration of all clients onto the SCRIP
system was a great success and has given
us many advantages in the range of services
we can offer our clients, in addition to
easier management of companies with
multiple registers.
WHAT ARE THE INTERNAL
DEVELOPMENTS?
We were ably assisted by the secondment
of experienced registry staff from our offices
in Australia and the UK. The help we’ve
received in respect of our technology systems,
and the added value of the on-the-job training,
has been of great benefit and we would
like to thank our international colleagues for
their assistance.
We also opened a satellite office in the
Johannesburg Stock Exchange building to
service local stockbrokers, which has been
a great success.
WHAT DO YOU EXPECT
FROM THE YEAR AHEAD?
In addition to the dematerialisation of more
companies onto STRATE we will continue
to be busy servicing our growing client base,
including our newest major client,
Johnnic Ikageng Empowerment Scheme.
There are many opportunities for new work
with the upcoming privatisation of the Airports
Company of South Africa, Telkom, South
African Airways and Transnet.
In the meantime we look forward to contributing
to Computershare’s global registry as the major
registrar in our region.
35
Frik Vermaak Managing Director
Computershare Services (South Africa)
REGIONAL REPORTS
NEW ZEALAND
New Zealand statistics
STAFF
REGISTRY SERVICES
New Zealand
75
SHAREHOLDER ACCOUNTS
1.6 million
COMPANIES
280
MARKET SHARE
90%
COMPUTERSHARE PRODUCTS IN THE REGION
ASTS, SUMMIT
HOW WAS THE YEAR?
We maintain the registers of around 90%
of New Zealand’s listed companies and
remain the registry of choice for brokers
when it comes to IPOs. Meanwhile, turnover
of our 75 staff continues to be very low
at 4% per annum, with the average length
of service now at 10 years.
An important advance for us this year was
the increasing use of our in-house electronic
data capture facility, particularly for IPOs
and proxy recording for shareholder meetings.
Our access to the latest technology, as part
of the Computershare group, gives us great
advantages in the market here and we look
forward to benefiting from further advances
in the year ahead.
ANY NEW MAJOR CLIENTS?
The former Kiwifruit and Apple and Pear
marketing boards became public companies
earlier this year. We helped them through
the process and now maintain their share
registers. They and the country’s largest dairy
company now rely on us for the management
of their shareholder meetings.
36
COMPUTERSHARE REPORT TO SHAREHOLDERS 2000
AUCKLAND
Mike Smith General Manager
Computershare Registry Services (New Zealand)
WHAT DOES THE YEAR AHEAD
HOLD FOR COMPUTERSHARE
NEW ZEALAND?
We’re moving premises in January 2001 on
expiry of our current lease and will take the
opportunity to upgrade office services to
further improve our service to clients and their
shareholders. We expect the levels of revenue
and profitability to be maintained in spite of
a rather depressed New Zealand sharemarket.
REGIONAL REPORTS
HONG KONG
Hong Kong statistics
(50% owner)
REGISTRY SERVICES
Hong Kong
STAFF
SHAREHOLDER ACCOUNTS
445,000
COMPANIES
214
MARKET SHARE
60%
COMPUTERSHARE PRODUCTS IN THE REGION
SCRIP, SMARTS, ASTS
HONG KONG
The Hong Kong market has had strong growth
over the past year with every indication
that it is set to continue, and this was reflected
in our business growth.
We managed a number of highly successful
IPOs, including HK Tracker Fund, tom.com and
SunEVision, taking the number of shareholder
accounts we manage to nearly half a million.
Our position as the number one registrar
in the Asian market fits with Computershare’s
global registry, thanks to our geographical
presence and the high level of cross ownership
that exists between Hong Kong and the
United Kingdom.
The year ahead looks to be very exciting, with
the commencement of the Mass Transit
Rail Authority government privatisation and
float, which should add considerably to our
total shareholder accounts.
We are planning to use Computershare’s
online IPO product this year to offer our clients
and their investors a simple and efficient way
of applying for shares in a float.
This is just one of the benefits we are sharing
in as part of the Computershare group
as we look forward to a fruitful year together.
David Lee Managing Director
Central Registration Hong Kong
37
135