Transfer of the securities portfolio and related agreements

Danske Bank A/S provides services in Estonia through an Estonian branch (hereinafter: Danske Bank). By the end of August 2019, daily banking products were terminated to Estonian business customers. As of 13 August 2019 the customers with securities balances only holding service was provided. However, Danske Bank has to terminate the provision of all banking services in Estonia. Therefore all business portfolios, including securities must be transferred out.
On 20 August 2019 UAB FMĮ “ORION SECURITIES” (a company registered in Lithuania, registry code: 122033915, registered address Antano Tumėno str. 4, Vilnius, Lithuania; hereinafter: Orion Securities) and Danske Bank A/S have concluded the business transfer agreement on transfer of the Estonian client investment services unit that belonged to Danske Bank A/S Estonia branch. UAB FMĮ “ORION SECURITIES” is a financial brokerage firm authorised in Lithuania by the Bank of Lithuania.

Orion Securities as the new services provider

According to the business transfer agreement mentioned above Danske Bank will transfer the agreements for the provision of investment services between the customer, having balances on their security accounts or other services in Danske Bank Estonia and related securities to Orion Securities and cover all related costs.

Therefore Orion Securities will be a party to the agreements related to the securities holding instead of Danske Bank as of 13 September 2019 and will provide to the customer the securities holding services.

Terms and conditions of the transferred agreements will not change as a result of the transfer. For investment services the signing of the relevant agreement between the customer and Orion Securities is needed.
Orion Securities will contact the customer in order to get the additional information and to comply with the mandatory regulation principles (KYC, AML etc.). During this process the customer can choose most appropriate communication channel with Orion Securities. The Order execution policy, price list and other relevant regulations of Orion Securities will apply to the agreements as of 13 September 2019, replacing the general conditions and the price list of Danske Bank referred to in the transferred agreements.

Danske Bank A/S Estonia branch as a securities account operator has waived the status of the account operator with Nasdaq CSD. The list of other securities account operators is available at this link: https://www.nasdaqcsd.com/services/services-to-account-operators/list-of-account-operators/.

New securities account

Orion Securities has opened a nominee account to hold the securities held previously in Danske Bank. The customer has to contact and provide any needed information and documents to Orion Securities if there is a need for a personal securities account. In the personal account only the securities registered in the Baltic countries can be held. Opening of the personal securities account in Orion Securities is free for the customer, because Danske Bank has already paid the opening fee.

Orion Securities contact details

As of 13th September, we kindly ask you to forward any questions, applications and orders to the contact details of Orion Securities:

- Phone: +370 5 2498 054 (Mon-Fri 09:00-18:00)
- E-post: cm@orion.lt