DEMAT sets roadmap for ending paper share certificates
The Dematerialisation Market Action Taskforce (DEMAT) has published its implementation plan for the first phase of the UK's transition away from paper share certificates, with the Government confirming it will legislate to mandate digital share registers before the end of 2027. While the report states that shareholder rights will be preserved and existing shareholders will not need to take action, the proposals form part of a wider programme of reform that will reshape how ownership is recorded and shareholder rights are exercised. The development follows ongoing industry debate about the potential implications of dematerialisation for shareholder identification, issuer visibility and investor engagement, issues that are expected to remain central as later phases of reform are developed.