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Under AST's electronic system, client requests for DWAC and OI issuances are submitted via the
Internet, thereby increasing the security, accuracy and timeliness of the
system's operation. Original Issue requests are processed immediately, with physical certificates being issued
that evening.For DWAC requests, the system continually searches for matching client instructions and broker
requests.Upon finding matching instructions, the system automatically completes the DWAC transaction and
credits the appropriate broker account.
The automated system offers numerous advantages over the old fax letter system:
Dramatic improvements in processing time. OI transactions are
typically executed the same day that they are submitted, while DWAC
transactions are, in most instances, credited within an hour of our receiving a
matching client and broker request.
Data is only entered once, thus ensuring that the information printed on the certificate or matched
against broker instructions appears exactly as requested by the client.
Multiple requests may be
submitted on the same form and at the same time.
Instant e-mail notifications provide assurance that requests were received and processed by our system.
In addition, e-mails are sent out each evening informing the client of all transactions that were processed that day,
as well as all transactions entered by the client for which matching broker
instructions have not yet been received.
The system allows brokers to electronically monitor the progress of their DWAC submissions, as well as
access records of the entries inputted by the company.
The system automatically produces monthly transaction history reports, transmitted via e-mail.In addition, clients may request
personalized transaction histories, should the need arise.
Please note that the new system may only be used for DWAC and OI issuances under
registered stock option, incentive, or employee stock purchase plans. Shares to be issued other than pursuant to
such registered plans may not be submitted via the electronic system, and you
should continue to use the fax letter system for such issuances.
This system represents a significant technological advance that has yet to be matched by any of our competitors.It affords our clients an unprecedented
level of control and access to information.
The system represents yet another innovation in electronic client
services from American Stock Transfer & Trust Company.
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