Concerning the administration of securities, Midclear provides the following services:

A. Processing of Corporate Actions and Other Securities Events:

Midclear provides information services related to forthcoming events such as reorganization (mergers, acquisitions...), stock splits and reverse split, rights issues, and other securities events to its members.

• It notifies its members, in advance, of all details of corporate actions such as capital increases, exchange and purchase offers, and stock dividends.
• It furnishes pre-advice of upcoming interest and dividend payments and redemptions.
• It provides same day notification of dividends, interest payments, and the proceeds of redemptions on due date.
• It provides early information on general meetings and proxy services. Accordingly, it executes the ensuig customers' instructions on corporate actions.

B. Payment of Dividends, Interest, and Redemptions on Due Date:

Midclear acts as a collection agent at the time of dividend, coupon and redemption on securities. After collection of the proceeds, Midclear credits them to member accounts having balances on the record date. The Members of Midclear in turn distribute such proceeds to the respective shareholders.

C. Reporting to Members:

Midclear prepares regular reports on the valuation of portfolio holdings to its customers, showing both the nominal value and the market value by security. It also prepares special reports related to the above mentioned security events.