DGAP-News: Dyesol Limited: Dyesol shares to trade in the United States

DGAP-News: Dyesol Limited / Key word(s): Miscellaneous/Miscellaneous
Dyesol Limited: Dyesol shares to trade in the United States

20.04.2011 / 10:29

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Dyesol shares to trade in the United States
 
- Dyesol Limited is capturing a leading US market position in glass based
Dye Solar Cell technology, materials and services.
- Consistent with this market penetration and growing interest from US
investors, a Level I ADR Facility has been established and quotation will
be available from 21 April.
 
Dyesol Ltd (ASX:DYE) is pleased to announce that its Level I American
Depositary Receipt (ADR) program has  been established.
 
The ADR's will be quoted on the Over-The-Counter (OTC) market and are
tradeable via licensed US brokers in the ordinary course of trading.
 
The decision to commit to an ADR program was based on strong investor
interest from the USA, particularly after recently reporting progress of
the DyeTec Solar joint venture. ADR programs have also been shown to
increase liquidity and share value for ASX listed companies.
 
'We have launched this program due to recent growing interest from US
investors. Our profile and presence in the US has increased markedly in
recent years due to the launch of a North American subsidiary Dyesol Inc.,
and a rapidly growing business and client base which includes the DyeTec
Solar joint venture. This leads to greater market interest in the company
resulting in increased trading in the Australian market by US investor'
 
'This quotation will enable potential investors in the US to more easily
access Dyesol shares, and will increase exposure of Dyesol to global solar
and advanced technology pricing, similar to our successful experience in
trading in Germany on the Open Market,' noted Mr Richard Caldwell, Dyesol
Chairman.
 
The particulars of the ADR program are as follows:
 
Type of ADR Program:  Level 1
US Exchange:  OTC
CUSIP Number:  267700102
ISIN Number:  US2677001024
ADR Ticker Symbol:  DYSOY
ADR Effective Date:  21 April, 2011
Ratio: (ADR:ORDINARY):  1:20
Registrar/Transfer/Proxy Agent:  BNY Mellon
Local Custodian:  National Australia Bank Ltd.
 
About American Depositary Receipts:
 
What is an American Depositary Receipt?
An ADR is a negotiable US certificate representing ownership of shares in a
non-US corporation. ADRs are quoted and traded in US dollars in the US
securities market. Also, the dividends are paid to investors in US dollars.
ADRs can be held in book-entry form or as a physical certificate.
Depositary Receipts are created when a broker purchases a non-U.S.
company's shares on its home stock market and delivers the shares to the
depositary's local custodian bank, and then instructs the depositary bank,
such as BNY Mellon, to issue Depositary Receipts. In addition, Depositary
Receipts may also be purchased in the U.S. secondary trading market. They
may trade freely, just like any other security, either on an exchange or in
the over-the-counter market.
 
What is a level I ADR?
Level I Depositary Receipts are traded in the US OTC market with prices
published in the 'Pink Sheets' and on some exchanges outside the United
States. Establishment of a Sponsored Level I program does not require full
SEC registration and the company does not have to report its accounts under
US GAAP or provide full SEC disclosure. Essentially, a Sponsored Level I
Depositary Receipt program allows companies to enjoy the benefits of a
publicly traded security without changing its current reporting process.
 
Who is the depositary bank for Dyesol ADRs?
BNY Mellon is the depositary bank and plays a key role in the process of
issuance and cancellation of ADRs. BNY Mellon also maintains the ADR holder
register and distributes any dividends in US dollars. In addition, BNY
Mellon is a DTC (Depositary Trust Company) participant as are brokers &
dealers, other banks, trust companies and clearinghouses. For additional
general information, please visit BNY Mellon's website at
www.adrbnymellon.com and search for Dyesol's ADR profile.
 
Can I buy Dyesol ADRs through a broker just as you would buy US securities?
Yes.
 
How do I convert my ordinary shares into ADRs?
The conversion of ordinary shares into ADRs must be done through a broker
or an investment advisor. Alternatively contact BNY Mellon for further
assistance with this.
 
How can I change my account details, including address etc?
It is important that you contact BNY Mellon Shareowner Services to update
any change to your account records.
 
What financial information is available to US investors?
Dyesol provides the same financial information to all investors and
conforms to all laws in the US on disclosure pertinent to Level I ADRs.
 
For more information on Dyesol ADRs please contact BNY Mellon, your broker
or investment advisor.

For media queries in Australia contact Viv Hardy at Callidus PR on +61 (0)2
9283 4113 or on +61 (0)411 208 951.
In Europe contact Eva Reuter, Investor Relations, Dyesol Europe on +49 177
6058804.
In the Americas contact Kathryn Harper, Antenna PR, on +1 415 977 1936.
 
 
Note to editors 
The Technology - DYE SOLAR CELLS 
DSC technology can best be described as 'artificial photosynthesis' using
an electrolyte, a layer of titania (a pigment used in white paints and
tooth paste) and ruthenium dye deposited on glass, metal or polymer
substrates. Light striking the dye excites electrons which are absorbed by
the titania to become an electric current many times stronger than that
found in natural photosynthesis in plants. Compared to conventional silicon
based photovoltaic technology, Dyesol's technology has lower cost and
embodied energy in manufacture, it produces electricity more efficiently
even in low light conditions and can be directly incorporated into
buildings by replacing conventional glass panels or metal sheets rather
than taking up roof or extra land area.

The Company - DYESOL Limited 
Dyesol is a global solar technology company and in August 2005 was listed
on the Australian Stock Exchange (ASX: DYE). Dyesol manufactures and
supplies a range of dye solar cell products comprising equipment,
chemicals, materials, components and related services to researchers and
manufacturers of DSC. The Company is playing a key role in taking this
third generation solar technology out of the laboratory and into the
community.
 
 
More details about the company and the technology can be found at:
http://www.dyesol.com


End of Corporate News

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