Cost provisions for Corporate Actions and Proxy Notification of General Meetings, associated with the Shareholder Rights Directive II
Pursuant to the transparency of cost provision set out in Article 3d of the Directive (EU) 2017/828 of the European Parliament and of the Council of 17 May 2017 amending Directive 2007/36/EC as regards the encouragement of long-term shareholder engagement as transposed into local law by one or more member states in the European Union (the “Directive”) and subject further to any applicable local law in each such member states (with respect to each such applicable member state, the Directive and any applicable local law shall hereinafter collectively be referred to as the “Applicable Law”), the following are the fees that Brown Brothers Harriman (“BBH”) currently, as of September 3, 2020, charges with respect to proxy voting, corporate action related services and shareholder identification requests. This disclosure corresponds to BBH acting in the capacity of an “intermediary” as defined in the Directive.
All fees are expressed in US dollars, unless otherwise stated.
Notifications for shareholder meetings where proxy voting services are used are charged as below:
There are currently no fees charged for the delivery of corporate action information or for the processing of corporate actions. To the extent there are associated movements of cash and securities in relation to a corporate action, the applicable transaction charges set forth in clients’ fees schedules agreed with BBH will apply.
Shareholder Disclosure Requests
Where BBH is required under applicable law to respond to a shareholder disclosure request, the following charge applies per response:
Shareholder Disclosure Forwards
Where BBH is required under applicable law to forward a shareholder identification request to the next intermediary in the chain of custody, the following charge applies per forward:
|Shareholder Disclosure Forwards
Fees listed above represent current standard fees that may be applicable in addition to global custody safekeeping and transactions fees. Individual client agreements may differ based on actual services offered and applied.
Non-standard servicing offerings or value-added service offerings may result in differences in fees, such as but not limited to, the holding of securities in an investor CSD, corporate trust and clearing services, or the combination of custody and collateral management service offerings.
BBH will pass through to clients any out-of-pocket expenses including (but not limited to) local market proxy voting costs, postage, courier expenses, registration fees and costs associated with physical attendance at meetings.
This disclosure is made on behalf of Brown Brothers Harriman & Co. and to the extent applicable, any of its affiliates through which global custody services are contracted.
All fees disclosed in this document may be subject to change going forward.
All fees disclosed in this document are exclusive of VAT or other relevant sales taxes.
Brown Brothers Harriman & Co. (“BBH”) may be used as a generic term to reference the company as a whole and/or its various subsidiaries generally. This material and any products or services may be issued or provided in multiple jurisdictions by duly authorized and regulated subsidiaries. This material is for general information and reference purposes only and does not constitute legal, tax or investment advice and is not intended as an offer to sell, or a solicitation to buy securities, services or investment products. Any reference to tax matters is not intended to be used, and may not be used, for purposes of avoiding penalties under the U.S. Internal Revenue Code, or other applicable tax regimes, or for promotion, marketing or recommendation to third parties. All information has been obtained from sources believed to be reliable, but accuracy is not guaranteed, and reliance should not be placed on the information presented. This material may not be reproduced, copied or transmitted, or any of the content disclosed to third parties, without the permission of BBH. Pursuant to information regarding the provision of applicable services or products by BBH, please note the following: Brown Brothers Harriman Fund Administration Services (Ireland) Limited and Brown Brothers Harriman Trustee Services (Ireland) Limited are regulated by the Central Bank of Ireland, Brown Brothers Harriman Investor Services Limited is authorised and regulated by the Financial Conduct Authority, Brown Brothers Harriman (Luxembourg) S.C.A. is regulated by the Commission de Surveillance du Secteur Financier. All trademarks and service marks included are the property of BBH or their respective owners. © Brown Brothers Harriman & Co. 2020. All rights reserved. IS-06505-2020-08-25 1315_20