If your outside Canada and want to do the R/O but are having a bad time doing it I have information to help on that. You can give info to your broker & they may contact Computershare in Canada and Don W. at Regenx to get the answers to how Restricted shares get converted to common shares, etc.
Don Weatherbee is coordinating all international right offering inquiries. The email below is from Computershare which should answer your questions. If there is any clarification needed contact Don for assistance.
From: John Conway <John.Conway@computershare.com>
Sent: Wednesday, April 10, 2024 1:41:30 PM
To: Don Weatherbee <donw@regenx.tech>
Cc: Jacky Patterson <Jacky.Patterson@computershare.com>; Pauline Osayande <Pauline.Osayande@computershare.com>
Subject: RE: Regenx___ RGX Rights offering
Hi Don,
Thanks again for the call. As discussed, the process for non-resident holders depends on where their brokers hold their shares.
If in CDS, all of the rights credited to CDS and the participants are “eligible,” by virtue of the fact that CDS is Canadian-addressed. A non-resident holder may instruct their broker to withdraw their rights into DRS. That process is all electronic; a DRS advice would generate and deliver to the holder by mail. Upon receipt, they can exercise their rights through Computershare (Jacky or I can assist if we know to expect such a withdrawal).
If in DTC, all of the rights credited to Cede & Co are “ineligible.” Holders will need to instruct their brokers that they are claiming their rights, with the Company’s approval, and to withdraw the rights out of DTC into DTC. There is a process within DTC for this:
The broker must request its DTC participant to withdraw the rights. It is up to the broker and the participant to coordinate this; they will have their own process and method of communication. The broker might use the term “custodian” or “clearing agent” or similar, instead of “participant.”
The participant must request DTC to withdraw the rights into DRS. DTC requires that the participant make certain representations as to the eligibility of the beneficial holder. The participant may handle this directly or ask the broker to provide some documents, but this step is ultimately between the participant and DTC.
DTC will request to Computershare, based on the participant’s instructions, to withdraw ineligible rights out of Cede & Co. and credit eligible rights to the holder. The instructions might be for the broker or beneficial holder name. DTC will provide Computershare with a copy of the participant’s representations.
Computershare will ask Regenx to approve such a withdrawal. Once approved, we debit the Cede & Co. balance and issue a rights DRS according to the instructions that DTC provides. This typically goes out by mail but we can coordinate email delivery if Regenx is in touch with the holder and wishes us to assist.
I hope this helps. If you or the holder(s) have broker contacts, Jacky and I can deal with them directly to explain the process. However, it’s up to the broker to work with their participant and DTC to have the rights withdrawn.
Best regards,
John Conway
(He/him)
Computershare
Project Manager, Corporate Actions
T 604-661-9494
M 604-290-6786
510 Burrard St., 3rd Floor
Vancouver, BC V6C 3B9
www.computershare.com