5th Aug 2021 19:31
Phoenix Copper Ltd- British Virgin Islands-based base and precious metals production and exploration company - Intends to establish an American Depositary Receipt program over its shares, which are expected to trade on New York's OTCQX market.
The programme is expected to come operational by the end of September, with each ADR comprising 10 existing Phoenix shares. No additional shares will be issued to set up the program, and the Bank of New York Mellon has been appointed to set up the program, and act as the ADR depositary, custodian and registrar.
We are delighted to be working with BNY Mellon for the purpose of establishing our ADR Program for trading our ADRs on New York's OTCQX Market. BNY Mellon is the market leading depositary bank in the global depositary receipt business, providing OTC ADR Programs to numerous companies, including FTSE100 companies and mining companies. We look forward to working closely with their corporate and investor relations Depositary Receipts teams as they establish and manage our program," says Chief Financial Officer Richard Wilkins.
Current stock price: 80.55 pence
Year-to-date change: up sharply from 39.31p
By Dayo Laniyan; [email protected]
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