8% stake in MMC Norilsk Nickel, announces that is has received a Letter from Crispian Investments Limited, the beneficial owner
of which is Mr Roman Abramovich, with respect to shares of MMC Norilsk Nickel.
A statement of the SECP issued here on Monday said that Pursuant to Section 224(1) of the Companies Ordinance, the beneficial owner
who makes such gain is required to surrender the amount of the gain to the company and the amount of tenderable gain is calculated in the manner provided in Rule 16 of the 1985 Companies General Provisions and Forms Rules.
The direct or indirect beneficial owner
of more than 10% of any class of a registered equity security;
These shell companies, which are incorporated in such offshore jurisdictions as the Bahamas, the British Virgin Islands, the Cayman Islands, the Netherlands Antilles, and countries in the South Pacific, such as the Cook Islands, Fiji, Nauru, and Vanuatu, are formed to hold the customer's assets, as well as offer confidentiality because the company, rather than the beneficial owner
of the assets, becomes the account holder at the private bank.
mail the notice directly to each beneficial owner
identified to the issuer or registrar.
holder, beneficial owner
, prospective investor or analyst) to:
One provision requires that the Department of Defense (DoD) determine the beneficial owner
of high security leased space in buildings that it rents.
A payor can treat a person as foreign if the payor can reliably associate the payment with documentation that establishes that the person is the beneficial owner
of the income or a foreign payee.
Form W-8BEN, Certificate of Foreign Status of Beneficial Owner
The 5% rate for direct investment dividends is retained and applies if the beneficial owner
is a company (other than a partnership) that directly holds at least 10% of the payer's voting stock.
Dividends: Rate on direct investment dividends remains 5%; however, such rate will now be available when the beneficial owner
is a company that owns 10% of the voting stock of the company paying the dividend and the payer is not a RIC, REIT or French SICAV.
By arrangement with the beneficial owners
, intermediaries frequently hold securities in a beneficial owner
's account in their own names (i.