WE’VE GOT YOU COVERED ON ESCHEATMENT AND THE SEC RULE 17 AD-17

Continental Stock Transfer & Trust has an agreement with SOVOS, formerly KEANE, to perform “Abandoned Property” due diligence mailings, as well as Abandoned Property reporting and filings.

SOVOS is a recognized leader and a highly respected name in the financial industry. SOVOS plays a pre-eminent role in this field, acting on behalf of scores of high-profile Fortune 500 companies, as well as a number of large transfer agents.

On December 22, 2020, Abandoned Property Advisors (APA) acquired Pennsylvania-based Keane location services division. Continental has an agreement with APA to assist our issuers in locating lost shareholders under SEC rule 17 AD-17. SEC rule 17 AD-17 search process is cost-free to the shareholder.

APA also offers in-depth search services, with their Pre-Escheat Location Program (PEL) for the unresolved shareholder accounts following the two required SEC searches. The advantage to the issuer with APA’s PEL program is the preservation of valuable shareholder relationships and the return of the assets to the rightful owner. The added value to our clients is a significant reduction in amounts due to escheat and a reduction in the associated costs.

ISSUER ADVANTAGE

As always, shareholder participation is voluntary. Shareholders or their heirs continue to have the option to contact Continental directly to update account information should they wish to make a claim independent of APA.

The advantage to the issuer in the location process is that any previously abandoned property is returned to the rightful owner, and not escheated in accordance with the dormancy periods prescribed by the various states. Accordingly, your escheatment charges are reduced and more shareholders are reunited with their underlying assets.

Again, SEC rule 17 Ad-17 search process is cost free to the shareholder. Processing fees charged by Continental are not borne by the shareholder.