U.S.A.: Books closure on some French ADR programmes effective 31 July 2012
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THE INFORMATION IN THIS MARKETFLASH HAS BEEN SUPERSEDED BY ANNOUNCEMENT A12148.
The following American Depository Receipt (ADR) agents:
- The Bank of New York Mellon;
- Citibank NA;
- Deutsche Bank Trust Company Americas; and
- JPMorgan;
have announced the temporary closure, at close of business (New York time) on 31 July 2012, of the books for ADR issuances, cancellations and transfers for a number of French ADR programmes.
This decision is motivated by the lack of clarity concerning the impact that the new French Transaction Tax (FTT) legislation, effective on 1 August 2012, may have on the ADR programmes of French companies.
Pending further information from the French Tax Authorities as to the FTT treatment of ADR transactions and corporate actions, the above-mentioned agents’ books of the impacted securities will remain closed to ADR issuances, cancellations and transfers.
Note: For the unofficial list of securities impacted by the FTT, please refer to our Announcement A12139, dated 23 July 2012.