OeKB receives the underlying securities (the "Shares") and on that basis provides the corresponding amount of ADCs. OeKB allocates the ADCs according to the instructions of the deliverer of the Shares.
This involves
- the Shares being held by a custodian bank of CSD.Austria
- the ADC being held in safekeeping by CSD.Austria in the form of a modifiable global certificate.
OeKB provides a purely technical service and thus has no economic interest in the security underlying the ADC. In accordance with this principle OeKB in its capacity as provider of ADCs does not exercise any shareholders' rights in the underlying shares and therefore does not e.g. take part in annual general meetings.