„ADR” is the acronym for American Depositary Receipts. ADRs are receipts representing ownership in shares of foreign companies that trade on the U.S. financial markets. ADRs are a mechanism for U.S. investors to facilitate trading in non-U.S. companies without having to worry about the details of cross-border transactions. ADRs are priced in U.S. dollars, pay dividends in U.S. dollars and can be traded just like shares of U.S. companies. ADRs are issued by a depositary bank and represent a fixed number or a fixed fraction of foreign registered shares, depending on the ratio of ADRs to ordinary shares.
In this section we answer the frequently asked questions. Please send us a short message if your question is not included. We will get back to you as soon as possible.
A „Level I Program” trades on the U.S. over-the-counter (OTC) market instead of a stock exchange. Contrary to a stock exchange listing, a registration of securities with the U.S. Securities and Exchange Commission (SEC) is not required for an „ADR Level I Program”.
Increasingly, investors aim to diversify their portfolios internationally. ADRs offer a number of advantages to particular investors including:
- Quotation and payment of dividends in US dollars and corporate action information
- Diversification without many of the difficulties investors have in purchasing and holding securities outside of their local market
- Elimination of global custodian safekeeping charges
- Familiar trade, clearance and settlement procedures
- Ability to acquire the underlying securities directly upon cancellation
- Readily available price, trading information and easy comparison to securities of similar companies
The share/ADR ratio is the relation between the number of ADRs and the number of underlying ordinary shares. Every CANCOM ADR represents a quarter of a CANCOM ordinary share, or 1 ordinary Share is equivalent to 4 ADRs.
ADRs can be purchased by investor or institutions who wish to purchase shares in a foreign company. Investors can either purchase the foreign shares in the local market through a broker in that country or request their brokers to buy the ADRs in the US. The broker may either purchase existing ADRs or, if they are not available, arrange for their broker to purchase shares in the local market of which CANCOM’s depositary bank, Deutsche Bank, will issue in ADR form.
Deutsche Bank Trust Company Americas is the depositary bank for the CANCOM ADRs. The depositary bank plays a key role in issuance as well as cancellation of ADRs. It also maintains the ADR holders’ register, distributes the dividends in US dollars (if applicable) and facilitates the exercise of voting rights by ADR holders (if applicable).
Similar to any other US security, CANCOM ADRs may be purchased through a broker. If you are an individual holder (and not holding via American Stock Transfer) Please contact your broker/custodian directly.Contact details for ADR brokers and institutional investors:(US) Phone: +1 212 250-9100(UK) Phone: +44 207 547-6500Email: firstname.lastname@example.orgWebsite: https://www.adr.db.com Contact details for Registered ADR holders (holding via American Stock Transfer):(Toll-free number) Phone: +1 866 706-0509(Direct Dial) Phone: +1 718 921-8137Email: DB@amstock.comDeutsche Bank Shareholder ServicesAmerican Stock Transfer & Trust CompanyPeck Slip StationP.O. Box 2050New York, NY 10272-2050
The current price quote for CANCOM ADRs you can find on Deutsche Bank’s website www.adr.db.com or on OTCQX’s website https://www.otcmarkets.com/stock/DDAIY/quote. Please enter CANCOM’s ticker symbol DDAIY.
No, you can buy/sell ADRS only through your broker (OTC market)
Terms and Conditions are detailed in the Deposit Agreement which is available for download on the Securities and Exchange Commission (SEC) website at www.sec.gov
ADR holders will continue to receive in U.S. dollars any dividends that the Company distributes in the future.