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Notification - SRD II

Notification in relation to implementation of the requirements of Directive (EU) 2017/828

Notification - SRD II

Dear clients,

Hereby we would like to inform you that UniCredit Bulbank AD, in its capacity as a credit institution – investment intermediary, falls under the requirements of Directive (EU) 2017/828 of the European Parliament and of the Council of 17 May 2017 amending Directive 2007/36/EC as regards the encouragement of long-term shareholder engagement – Directive (EU) 2017/828.

The provisions of Directive (EU) 2017/828 have been transposed into the Bulgarian legislation in the Public Offering of Securities Act (POSA) and the Markets in Financial Instruments Act (MFIA) and introduce the following changes concerning the bank's activity in offering investment services:

The Directive lays down requirements for the exercise of certain shareholders' rights deriving from voting shares in connection with general meetings of companies having their registered office in a Member State and whose shares are admitted to trading on a regulated market situated in a Member State or operating in a Member State.  It also sets out specific requirements for promoting shareholder engagement, especially in the long term. These specific requirements apply to the identification of shareholders, the transmission of information, the facilitation of the exercise of shareholders' rights, the transparency of institutional investors, asset managers and authorized advisors, the remuneration of directors and related party transactions. We would like to inform you that it is possible your personal data (such as names and personal identification number) to be transferred by UniCredit Bulbank AD to issuers or other intermediaries (including non-EU) in compliance with the Directive requirements for  shareholders identification and transmission of information to the issuer.

In view of the above, please note that the requirements for implementation of Directive (EU) 2017/828 have been implemented by UniCredit Bulbank AD in an updated version of the Securities Account Maintenance Agreement, which you have to sign when you visit a branch of the bank or at the time of communication with our employees when there are new orders for purchase of securities and/or mutual funds.

In connection with the implementation of Directive (EU) 2017/828 and the updated Securities Account Maintenance Agreement, an employee of UniCredit Bulbank AD will contact you in an appropriate manner in order to provide additional information on how to provide the Agreement to You.


UniCredit Bulbank AD