21 Dec 2018 07:00
Registered Number 406711
Consort Medical plc
Closure of American Depositary Receipt Programme of Consort Medical plc (the "Issuer")
Consort Medical plc announces the decision to close its American Depositary Receipt ("ADR") Programme effective at 5:00 PM (Eastern Time ) on 23 January 2019. The Level I ADR programme is a legacy programme from 1992 and represents a very small proportion of Consort's equity: as at close of business on 20 December 2018, only 0.02% of Consort's issued equity is held in ADR form and trading volumes are very low. Accordingly, due to the small size of the ADR Programme and an increase in the costs associated with it the Board of Directors of Consort have decided to close the Programme.
All holders of the Issuer's ADRs (the "ADR Holders") may surrender their ADRs to the corporate trust office of Bank of New York Mellon (the "Depositary") at BNY Mellon, Depositary Receipts, 240 Greenwich Street, 22 West, New York, NY 10286. Pursuant to the Depositary Agreement between the Issuer and the Depositary, subsequent to 27 January 2020, the Depositary may attempt to sell the remaining ordinary shares of the Issuer held on deposit. ADR Holders who have not prior to such date surrendered their ADRs for cancellation will receive the net cash proceeds (after deduction of applicable Depositary fees and charges) from the sale of the shares held on deposit, upon surrender of their ADRs to the Depositary.
Enquiries:
Consort Medical | Tel: +44 (0) 1442 867920 | |
Jonathan Glenn - Chief Executive Officer | ||
Paul Hayes - Chief Financial Officer | ||
FTI Consulting | Tel: +44 (0) 20 3727 1000 | |
Ben Atwell / Simon Conway |
Consort Medical plc is a leading one-stop developer and manufacturer of drugs and premium drug delivery devices. We partner with pharmaceutical businesses in providing innovative life improving treatments to patients across the world through two integrated activities:
The design, development and manufacture of high performance medical devices for inhaled, injectable, nasal and ocular drug delivery, as well as point of care diagnostics products.
The development, formulation and manufacture of active pharmaceutical ingredients (APIs) and finished dose drugs to the highest quality standards.
We employ over 2,000 people globally and are committed to investing in patient, clinician and customer driven innovation to create new treatments.
Consort Medical is a public company quoted on the premium list of the London Stock Exchange (LSE:CSRT) and is organised in two divisions: Bespak and Aesica.
www.consortmedical.com.