Major Functions
- Registrar
- Paying Agent
- Transfer Agent
- Dividend Reinvestment
- Employee Stock Purchase Plans
- Hypothecation (Pledging)
- Options
- Warrants
- Rights
- Proxy Tabulation
MIMICS Stockholder Accounting System Overview
MIMICS Stockholder Accounting System will help organize and simplify the processing requirements associated with stock transactions. Issues such as multi-national corporation stock, foreign ownership, multiple employee stock purchase plans, and tracking takeover possibilities can be overwhelming. Even the everyday processing for a registrar, or processing for a paying agent or transfer agent can be difficult without a comprehensive electronic system.
The system will handle the processing requirements, in addition to common or preferred issues of any class, and foreign or domestic issues. How about the more basic features? Functions like printing and keeping an inventory of certificates, printing checks, and reporting to appropriate taxing authorities are all handled by this versatile system.
Based on your needs we can remove or add features to the MIMICS Stockholder Accounting System, and the system can be priced to your exact specifications. The basic system is available with a feature set that includes the paying agent, registrar, and transfer agent features.
Adding a new issue is simple, and it can be identified by CUSIP, ISN or a generic identification number. The number of authorized shares and certificates are entered for inventory purposes. Each issue is set up with a user-defined "template" which defines the format of your certificates and receipts.
New subscriptions are set up and cash contributions are accepted until it is time to issue the stock. The system will assure that the issue is fully subscribed. If over-subscribed, the system will issue checks pro rata for the over-subscriptions. Stock is issued in certificate or book entry form, and in either full or fractional shares.
Any permutation of stock transfers can occur. Full or partial blocks from multiple holders can be sold (transferred) to multiple holders. The forms of the new shares are certificate, book entry, or even a combination. The stock form can be changed from certificate to book entry and vice versa. The information regarding the transfer is printed on the transfer journal, and can be viewed on the screen.
The system handles both cash dividends and stock dividends. It monitors the record date to assure that only stockholders of record receive the dividends. Dividend reinvestment is accommodated. Stock splits are handled with minimum operator time. All you have to do is enter the future split date, record date and split ratio. Fractional splits are supported as well. Convertible bonds held on the MIMICS Bond Paying and Transfer Agent Systemcan automatically be converted to stock on the MIMICS Stockholder Accounting System according to the conversion features.
The system maintains Employee Stock Purchase Plans (ESPP or ESOP), and can limit the number and amount of withdrawals by an employee. It allows for an automatic feed from payroll, and tracks the employer's contribution.
A full history of all transactions is maintained automatically, and the resident report writer allows review of activity within any parameters defined. Included in the report writing is the use of multiple user-defined fields which are captured by the system.
Among the myriad features is the ability to maintain information by groups of investors, to place limits on percentage of ownership by an individual, to write and print reports to a file, to support multiple printers, and to provide password access by feature and item (object) within the feature (such as a Save button). The system has on-board Help including context-sensitive Help. The Restore-to-the Minute© feature will allow restoring to a specific date and time. This can be helpful in restoring due to a crashed network, or more importantly, can be used for generating reports for examiners for a date in the past.
The MIMICS Stockholder Accounting System is a system that can grow with your needs. There is no software limit to the number of holders, issues, or stock purchase plans you can maintain. The system is available in a standalone or a network version (all Microsoft networks supported).
If you would like more information about our products and services, please fill out our online request form.