Among the services that Midclear provides is the management of the shareholders registry, according to Law number 308 enacted by the Lebanese Parliament on 03/04/2001. This Law stipulates in its Article one that all bank shares shall be registered and its shareholder register managed by Midclear SAL. In addition. Midclear acts as registrar for some commercial companies and some Common Placement Funds, either listed or not listed on the Beirut Stock Exchange. The Registrar function includes the following responsibilities:

Change of Ownership as a result of trading:

• Non-Listed shares:

  Midclear receives Form 2 (Change of Ownership) duly signed by the member who is representing the seller in the Change of Ownership contract. Midclear executes the order after taking into consideration the legal aspect concerning the trading of the bank’s shares with regards to the seller and buyer.

• Listed shares:

  The trades on listed shares are executed automatically on the books of Midclear on T+3.

Change of Ownership as a result of Inheritance or Will:

Midclear receives an original copy of the official documents issued by the court, and transfers the shares to the heirs or beneficiaries accordingly.

Pledging and Unpledging of shares:

The member representing the pledgor delivers to Midclear the original copy of the Pledge Agreement and awaits for a confimation from Midclear stating that the Pledge was executed. The shares shall only be unpledged when the beneficiary of the Pledge (pledgee) instructs Midclear to free the shares.

Freeze initiated by the Court:

Midclear receives direct instruction from the court to freeze the shares and executes the order according to the procedures defined by the Law. According to Article 889 of the Law, Midclear reports directly to the court the details of the freeze.

Freeze of Shares for guarantee purposes:

Midclear is able to freeze any account if it relates to a certain guarantee, especially the Locked Inshares placed in guarantee for the responsibility of members of the Board of Directors. Midclear issues a statement confirming the freeze of the shares upon the member request, and after submitting the required documents.

Statement of Ownership of Nominal Shares:

Midclear issues a Statement of Ownership upon the member’s request, in some cases, the shareholder’s original request may be required by Midclear.

Attendance List for General Assembly Meetings:

Midclear provides a list of the shareholders to the issuer for the attendance of the General Assembly Meetings stating the names and number of shares and votes for each shareholder.