What does the beneficial owner mean without objection?
A non-opposing beneficial owner is an beneficial owner who authorizes a financial intermediary to disclose his name and address to the company or companies or issuers from which he purchased securities.
Understanding the Beneficial Owner Without Objection (NOBO)
Companies and issuers request this personal information in order to be able to contact the shareholder regarding important communications for shareholders (such as proxies, circulars for rights offers and annual / quarterly reports). A non-opposing beneficial owner will receive these items directly as they have authorized the disclosure of their information.
A beneficial owner of a security is a person who owns a security or securities held by a financial intermediary. This is generally the individual’s broker or, in some cases, it may be another financial intermediary with which the person is associated. An opposing beneficial owner (OBO) instructs the financial intermediary who owns the securities not to provide the owner’s name and personal information to the company that issued the securities. When you create your account with a broker, you will often have the choice whether or not to pass your information on to the companies in which you buy shares.