These changes to the ADR ratio
will bring the ADR price broadly in line with the market average.
Yesterday, MTS (MBT - Buy) announced it will change its ADR ratio
from five common shares per ADR currently to two common shares per ADR.
Commenting on the ADR ratio
change, Mikhail Shamolin, President and CEO of MTS, said: "MTS' ADR price has increased more than 60% since the Company's last effective stock split in January 2005.
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.
For additional information about the ADR ratio
change, please contact Ms.
The Company's underlying ordinary shares traded on the Santiago Stock Exchange are not affected by the change in ADR ratio
XTL and its advisors believe that following the ADR ratio
change, the $4.
Unsponsored BHP Billiton Plc ADRs (OTC: BHPBY; CUSIP 05545E 10 0), which carry an ADR ratio
of 1:1, will be converted to sponsored ADRs.
The change in the ADR ratio
will have no effect on the number of outstanding common shares the company has on issue or the listing of its common shares on the ASX.
that the ADR ratio
be amended from one (1) ADR representing two (2) ordinary shares, NIS 0.
On July 10, 2000 the Company changed its ADR ratio
to one ADR representing twenty-five Ordinary Shares and the loss per ADR for each period has been calculated using this ratio; previously each ADR represented five Ordinary Shares.
Advantest's ADR ratio
is four Advantest ADRs equal to one common share traded on the Tokyo Stock Exchange.