16th Jun 2006 07:00
Wolseley PLC16 June 2006 NEWS RELEASE 16 June 2006 Wolseley plc Announces ADR Ratio Change Wolseley plc (LSE: WOS, NYSE: WOS) the world's largest specialist tradedistributor of plumbing and heating products to professional contractors and aleading supplier of building materials announces a change in the ratio of itsAmerican Depositary Receipts (ADRs) traded on the New York Stock Exchange. Wolseley first listed its ADRs on the New York Stock Exchange on 31 May 2001,when the ratio of ADRs to ordinary shares was set at one (1) ADR to five (5)ordinary shares. With effect from 2 February 2004, the ratio was changed to one(1) ADR to two (2) ordinary shares. In order to bring the U.S. share price in line with other ADRs and improve liquidity, the Company will change the ratio from one (1) ADR for every two (2) ordinary shares to one (1) ADR for every one(1) ordinary share. From the perspective of the ADR holder, the ratio change isroughly analogous to a two (2) for one (1) stock split because Wolseley ADR holders, at the close of business on 30 June 2006, will receive one (1) additional ADR for every ADR held. There will, however, be no change to Wolseley's ordinary shares. The ADR distribution date will be 6 July 2006. Commenting on this change, Charlie Banks, Chief Executive of Wolseley said:"Today's announcement demonstrates Wolseley's firm commitment to making theCompany's shares even more accessible to the broader US investment community.The change in the ADR ratio should increase volumes of the ADRs traded on theNYSE, creating a more liquid market for our shares in the US. This should enableus to build a larger US ownership base, particularly among individual investors,our associates and smaller firms." Wolseley released its Interim Results for the six months to 31 January 2006, on21 March 2006, which can be found on the website at www.wolseley.com. TheCompany will release a trading update on 17 July 2006 and will announce itspreliminary year-end results to 31 July 2006, on 25 September 2006. Certain statements included in this announcement may be forward-looking and mayinvolve risks, assumptions and uncertainties that could cause actual results todiffer materially from those expressed or implied by the forward-lookingstatements. Forward-looking statements include, without limitation, projectionsrelating to results of operations and financial conditions and the Company'splans and objectives for future operations including, without limitation,discussions of the Company's business and financial plans, expected futurerevenues and the strength of the plumbing and heating and building materialsmarket in North America and Europe, fluctuations in product prices and changesin exchange and interest rates. All forward-looking statements in this respectare based upon information known to the Company on the date of thisannouncement. The Company undertakes no obligation to publicly update or reviseany forward-looking statement, whether as a result of new information, futureevents or otherwise. It is not reasonably possible to itemise all of the manyfactors and events that could cause the Company's forward-looking statements tobe incorrect or that could otherwise have a material adverse effect on thefuture operations or results of the Company. Investors/Analysts:Guy Stainer +44 (0)118 929 8744Head of Investor Relations +44 (0)7739 778187 John English +1 513 771 9000Director, Investor Relations North America +1 513 328 4900 Media:Penny Studholme +44 (0)118 929 8886Director of Corporate Communications +44 (0)7860 553834 Notes to Editors Wolseley plc is the world's largest specialist trade distributor of plumbing andheating products and a leading supplier of building materials to professionalcontractors in North America, the UK and Continental Europe. Group revenues forthe year ended 31 July 2005, were approximately £11.3 billion and operatingprofit, before amortisation of acquired intangibles, was £708 million. Wolseleyhas more than 68,000 employees operating in 14 countries namely: UK, USA,France, Canada, Ireland, Italy, The Netherlands, Switzerland, Austria, CzechRepublic, Hungary, Belgium, Luxembourg and Denmark. Wolseley is listed on theLondon and New York Stock Exchanges (LSE: WOS, NYSE: WOS) and is in the FTSE 100index of listed companies. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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