An American Depositary Receipt (ADR) is a negotiable instrument representing ownership in securities of a non-US company. It’s a mechanism designed to allow US trading of non-US securities. ADRs are created when a broker purchases the non-US company's shares on the home stock market and delivers these shares to the Depositary. The Depositary bank then issues ADRs on the back of the underlying shares that are held in custody. Depositary Receipts can also be purchased in the US secondary trading market.
Trade in ADRs
Phytopharm ADRs trade on the over-the–counter (OTC) market in the US under the symbol ‘PHYOY’, identified by the CUSIP number 71921TW101.
The ADR ratio
One Phytopharm ADR represents two Phytopharm ordinary shares.
The ADR bank
Phytopharm has appointed the Bank of New York as the Depository Bank for our ADR Programme.
ADR holders should address any queries such as lost share certificates, change of address etc. to The Bank of New York Mellon using the details above.
Voting ADRs at Shareholder’s Meetings
Holders of ADRs are entitled to instruct the Depositary Bank, The Bank of New York Mellon, to exercise the voting rights with respect to the number of ordinary shares represented by the respective ADRs.