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Phosphagenics Establishes American Depository Receipt Programme
Melbourne, VIC, Australia, 27 March 2006
Phosphagenics Limited ("Phosphagenics"), the Australian Stock Exchange (ASX:POH) and AIM - (AIM:PSG) listed pharmaceutical and nutraceutical company, advises that it has established a Level 1 American Depository Receipt (ADR) programme in the US. The Bank of New York has been appointed as the depositary bank to administer the ADR program.
The ADRs will trade in the US over-the-counter market . Each ADR will represent 30 Phosphagenics ordinary shares. Phosphagenics ordinary shares will continue to trade on the ASX and AIM markets.
Harry Rosen, CEO of Phosphagenics, commented: "It is part of our long-term strategy to expand our presence in the US. The ADR programme will help us to increase our visibility in the US pharmaceutical and nutraceutical markets and enhance the trading options for existing and potential new investors."
The Company has been provided with the following ADR programme information:
Type of ADR Programme
ADR Effective Date
US Exchange
CUSIP number
ISIN number
ADR Ticker Symbol
Ratio to underlying ordinary shares(ADR : ordinary) |
: Level 1
: 24 March 2006
: Over the Counter (OTC)
: 718958101
: US7189581017
: PPGNY
: 1:30 | Shareholders and members of the investing public can access trading information about the ADR by visiting the Company’s website at : www.phosphagenics.com and following the links or visit www.marketwatch.com and enter the ADR ticker symbol of PPGNY.
For further information please contact:
Phosphagenics Limited
Mr Harry Rosen, Managing Director
Telephone: +61 3 9605 5900 or 0421 322 757
Northbank Communications
Emma Palmer, Rowan Minnion
Telephone: 44 (0) 20 7886 8150
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