Last checked at 2 Apr 2009 07:30
News Release
April 2, 2009
ADVFN PLC Announces Availability of ADRs
ADVFN PLC (PINKSHEETS: AVFCY, London AIM: AFN), operator of Europe's leading financial markets website (www.advfn.com), is pleased to announce the availability of its American Depositary Receipts (ADRs) in the US.
ADVFN PLC ADRs have begun trading on the Pink Sheets. Investors can find current information for the company on www.pinksheets.com and at www.advfn.com/p.php?pid=ir .
ADVFN PLC's ADRs will trade in the United States on Pink Sheets OTC under the ticker "AVFCY" where each ADR will represent 100 ordinary shares. ADVFN PLC's ordinary shares are listed on the London Stock Exchange (AIM).
The company's headquarters are in London, UK.
The Bank of New York has been appointed as the depositary bank for the Level 1 ADR programme and Capital Path Securities LLC was the filing market maker.
Any shareholder can convert their AIM-traded ordinary shares into ADRs trading in the US by contacting their US broker and requesting the conversion.
Bob Zumbrunnnen, President of InvestorsHub.Com, Inc., has converted over three million of his shares - roughly 0.5% of the float - to ADRs as of March 15, 2009.
Clem Chambers, CEO of ADVFN, commented: "We are very happy to make our stock available to US investors. We have hundreds of thousands of loyal customers in America and now they can put some of their favorite site into their portfolio."
Investors Hub, ADVFN's key property in the US market, has come to dominate the financial message board arena and is now one of the most popular financial message board destinations in the world (Source: Alexa); receiving approximately 25,000 posts a day and 60 million page impressions a month. The company has recently started integrating core ADVFN tools and information, including its streaming data products, into the Investors Hub and Silicon Investor sites and is pleased with current product sales and future outlook on the sites.
Contact:
Clem Chambers, ADVFN, +44 (0) 20 7070 0948 or email: clemcham@advfn.com