When the session started in February our focus changed to thoroughly examine the language of BDRs
that became a bill and as a committee decide and recommend that NNA either watch, or monitor for changes in language, or oppose or support.
requests have become bills by late January.
It was due to the hold-up of the programme book which resulted from the Levy Board delay to releasing the details on BDRs
N) overtook two other competitors to offer BDRs
at the Sao Paulo stock exchange.
Shareholders who accept the offer will get, through BDRs
or through American Depositary Receipts or ADRs, 0.
Once a BDR
gets a bill number, it is in official legislative language and active lobbying will take place.
Least affected are Aintree, which tops the BDR
table with a daily Levy Board allocation of pounds 117,520 but is still 18 per cent worse off than at the start of this year, and York, which drops 20 per cent to pounds 67,710 per day.
With respect to the BDRs
traded on the Brazilian Stock Exchange, the Depositary Institution in Brazil will execute the exchange agreement as of the date of the payment of the dividend to the holders of BDRs
, on or about December 20, 2012, for conversion purposes.
The category has been devised as a re s u l t o f a re v i s e d calculation of BDRs
, which for next year are based 50 per cent on the course's executive and sponsorship prize-money contribution and 50 per cent on betting turnover generated by the track.
For instance, this year I maintained prize-money even when we lost fixture incentive payments and the BDRs
were cut by ten per cent in July and a further nine per cent in August.
are a simple one sentence draft with no information as to what the true content of the proposed bill will be; therefore the committee relies on our lobbyist to keep us informed and knowledgeable on the content and what action may be required from the NNA Legislative committee.
The Racecourse Association is working out a process to identify those weekend meetings that will miss out on BDRs