Case Study

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Situation

A large, process‑driven public issuer engaged support to execute a series of Substantial Issuer Bids (SIBs), each involving approximately CA$1 billion in share repurchases. The issuer lacked confidence in their existing transfer agent's corporate actions capabilities, particularly around complex proration, reporting accuracy, and the timely distribution of funds.

It had been 10 years since the organization last conducted a SIB, intensifying the need for a partner with deep expertise and a realistic, well‑defined execution roadmap.

Challenges

The issuer's situation required experienced corporate actions management due to:

  • Check circle iconHigh‑value buybacks (over CA$1 billion each) requiring flawless accuracy.
  • Check circle iconComplex proration calculations, requiring dual‑expert review.
  • Check circle iconLetter of transmittal handling and certificate cancellations.
  • Check circle iconPrecise shareholder record confirmation and error‑free reconciliation.
  • Check circle iconTimely payout execution across thousands of shareholders.

Highlights

  • Check circle iconTransaction scale: Dual listed, high-profile issuer, large shareholder base.
  • Check circle iconTransaction complexity: From CA$790 million to CA$2.5 billion per SIB, with three executed successfully.
  • Check circle iconWith a decade since its last SIB, the issuer needed a proven partner with deep expertise in managing complex, high-value transactions.

Our Approach

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    1. Clear roadmap and realistic timelines

    With a decade since the issuer's last SIB, a detailed roadmap guided timing, dependencies, and deliverables.

  • chat-icon consult-icon

    2. Full project management and governance

    Regular calls aligned internal stakeholders, the prior transfer agent, and market partners (law firms and brokers) to ensure transparent communication and coordinated execution.

  • team-icon

    3. Seamless multi‑party coordination

    The team worked directly with the previous transfer agent, DTC, and CDS to maintain accurate records and support smooth transaction processing.

  • calculate

    4. Precision tools and dual verification

    Two specialists independently performed proration, reconciling their results to guarantee accuracy on every calculation.

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Operational accuracy

Full dual verification of proration.

End‑to‑end certificate processing and cancellation completed without error.

Record confirmation maintained throughout the lifecycle of each bid.

Stakeholder alignment

  • Check circle iconSeamless coordination with the existing transfer agent, DTC, and CDS.
  • Check circle iconRegular multi‑stakeholder calls ensuring transparency, alignment, and quick decision‑making.

Relationship outcome

Following three smoothly executed SIBs, the issuer appointed Computershare as their full transfer agent, onboarding over 8,000 registered shareholders successfully.

Benefits to the issuer

  • Check circle iconCheck circle icon Access to deep corporate actions expertise, improving confidence in every stage of the transaction.
  • Check circle iconCheck circle icon Strong governance and communication, reducing uncertainty and operational risk.
  • Check circle iconCheck circle icon Accurate, timely, and transparent execution, even under complex conditions.

Results

The successful delivery of three high‑value, high‑complexity SIBs demonstrated the team's accuracy, reliability, and capacity ultimately leading the issuer to transition all transfer agent responsibilities to Computershare, including the onboarding of 8,000 shareholders.

Let's Talk

We can help you execute your next corporate event – speak with a Computershare expert to learn more.

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