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ADR Ratio

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American Depository Receipt Ratio
The number of foreign shares represented by a single American Depository Receipt (ADR). An ADR is a certificate issued by a bank representing a certain number of shares of a stock the bank holds in trust, but that are traded on a foreign stock exchange and denominated in U.S. dollars. The number of shares represented by a single ADR is at the discretion of the bank issuing the ADR. The ADR ratio can have an effect on the price of the ADR.

ADR ratio
The number of foreign shares represented by one American Depositary Receipt.


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The change in ADR ratio will be useful in increasing NYSE volumes, creating a more liquid market for our shares in the US, while quarterly reporting will make it easier for investors to benchmark our performance versus our global peer group, the majority of which are based in the US.
The Company obtained approval to implement a 1 for 10 ADR ratio change at the Ordinary Shareholders Meeting held on April 21, 2003 and intends to implement the ratio change during the second quarter of 2003.
3, 2003 Silverline Technologies (NYSE - SLT; BSE - SLVR) Strategic focus on Business Process Outsourcing Proposed ADR ratio change Silverline Technologies (the "Company") (NYSE - SLT; BSE - SLVR), an international software development and integration services firm, today announced financial results for its fiscal year, ended March 31, 2002.
 
 
 
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