WBD to delist from NYSE May 26 - company
MOSCOW. May 6 (Interfax) - The board of directors at OJSC Wimm-Bill-Dann Foods has decided to delist the company's American Depositary Shares (ADS) from the New York Stock Exchange, and the likely last day they will be trading will be May 26, the company said.
The board also decided to terminate the registration of the ordinary shares and ADS with the U.S. Securities and Exchange Commission (SEC)
The company plans to filed the appropriate documents with the SEC before May 17.
The ADS may continue to be traded on the over-the-counter market after May 26. "Concurrently with or following delisting, WBD intends to terminate the ADS facility by terminating the ADS deposit agreement between WBD and Deutsche Bank Trust Company Americas, the ADS depositary," the press release says.
The ordinary shares will be available for trading on the RTS and MICEX exchange for a certain period following the delisting from the NYSE. However, once the offer to acquire WBD shares from PepsiCola Bermuda Limited expires, the company plans to delist from the RTS and remove its shares from MICEX.
"WBD will continue to be subject to Russian reporting, accounting, transparency and corporate governance standards unless it receives a waiver from the Federal Service on Securities Markets of the Russian Federation," it says.
Every four WBD depositary shares are backed by one ordinary share.
There are currently "fewer than 300 holders of record of its securities," it says.
WBD, founded in 1992, is a leading dairy and juice producer. The company has 36 production facilities in Russia and the CIS and sales affiliates in 26 cities.
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