Announcement
2016-05-31
【Announcement】Trust account opening and share certificate process flow
Dear Valued Customer,
ODP1 investment package was ended and the calculation of GMCI commenced on the beginning of February. We announced the total number of shares for each member on 22 February. It has been 4 months since the announcement. We received feedback from members that the whole process is very slow. And for this, we would like to apologize and would like to explain the whole process slow to all members.
First and foremost, the process involves 3 companies namely SMCI, GMCI and MyPremier:
1) SMCI received complete documents and forms from members. All documents will be checked and verified. If there is/are incomplete documents, company will notify leader and leader will notify member to submit complete document.
2) After verified by SMCI, the documents will pass to GMCI for second verification to make sure the number of shares is correct.
3) GMCI will then submit the documents to Trustee. Trustee will make sure that all forms are filled in correct manner, this includes: Personal details, beneficiaries’ details, current address etc.
4) The documents will be submitted to the relevant authority for stamping. This is to make sure that the share certificate is authentic and its owner/beneficiaries will be legally protected.
5) The share certificates will then be handed to SMCI. The date of lock-in period and share certificate serial number will be input into member’s page and leaders will be notified.
6) The original share certificate and stamped trust account form will be couriered to regional leaders and leaders will then pass them to members.
The opening of trust accounts involves members from not only one but many countries. The number of documents submitted to Trustee is far beyond what they can handle currently and therefore delayed the process.
We sincerely apologize for the delay and should you have any questions please do not hesitate to contact us. Thank you for your understanding.
Best Regards,SMCI