Resource Generation has established a sponsored American Depositary Receipt (ADR) program with Citibank.
An ADR is a negotiable certificate representing ownership for shares of a foreign company.
Our sponsored program is a Level 1 ADR program enabling US investors to trade “over the counter” in the United States. It does not involve the issue of any new shares or any additional regulatory requirements that are not already covered by the ASX Listing Rules. Each ADR is equivalent to 4 RES shares.
ADRs provide various advantages to US based investors who may have difficulties investing directly in Australian shares. These advantages include:
Diversification into non-U.S. securities
Trading, clearing and settling in accordance with practices of the investor’s home market
Eliminating cross-border custody safekeeping charges
Enhancing accessibility of research, and of price and trading information; and
Allowing easy comparison to securities of similar companies trading in the investor’s home market
From Resource Generation’s perspective the ADR program has the potential to:
Build company visibility in the U.S. and/or internationally
Broaden and diversify their shareholder bases
Expand their opportunity to increase local share price as a result of global demand/trading
Enlarge the market for the company’s shares, potentially increasing liquidity
The ADR program sponsor, Citibank, can be contacted as follows:
Citibank Shareholder Services
P.O. Box 43077
Providence, Rhode Island 02940-5000
1-877-248-4237 (1-877-CITI-ADR)
(Mon-Friday 08:00 AM-6:00 PM Eastern Standard Time)
1-781-575-4555
1-201-324-3284
citibank@shareholders-online.com