Launch of ADR Programme
9 July 2010 – Craneware plc (AIM: CRW.L), the market leader in automated revenue integrity solutions for the US healthcare market, is pleased to announce the launch of its American Depositary Receipt (“ADR”) programme.
Each Craneware ADR represents two ordinary shares and will trade on the Over-the-Counter (OTC) market in the US. The Bank of New York Mellon, the global leader in asset management and securities servicing, has been appointed by Craneware as the depositary bank for its ADR programme.
An ADR is a negotiable US certificate representing ownership of shares in a non-US corporation. ADRs trade and settle in the US in dollars; dividends are also paid to investors in dollar form. ADRs were specifically designed to facilitate the purchase, holding and sale of non-US securities by US investors, and to provide a corporate finance vehicle for non-US companies. ADRs can be held in book-entry form or as a physical certificate.
Keith Neilson, CEO of Craneware plc, commented:
“We are pleased to be able to provide this new facility which will allow easier access to Craneware securities by our US employees and US investors who have found it difficult to trade outside the US markets. It will also serve to enhance our US visibility, supporting our ongoing expansion strategy.”
If for any reason your broker is not able to purchase this security please have the broker contact Bank of New York Mellon for additional information.
For further information, please contact:
- +44 (0) 131 550 3100
- Keith Neilson, CEO
- Craig Preston, CFO
- +44 (0) 20 7418 8900
- Dan Webster
- Richard Kauffer
- +44 (0) 20 7653 9850
- Caroline Evans-Jones
- Fiona Conroy
Bank of New York Mellon
- +44 (0) 207 964 6089
- Mark Lewis
Founded in 1999, Craneware has headquarters in Edinburgh, Scotland with offices in Atlanta, Arizona, Massachusetts and Tennessee employing over 200 staff. Craneware is the leader in automated revenue integrity solutions that improve financial performance and mitigate risk for healthcare organisations. Craneware’s market-driven, SaaS solutions help hospitals and other healthcare providers more effectively price, charge and code for services and supplies associated with patient care. These optimise reimbursement, increase operational efficiency and minimise compliance risk. By partnering with Craneware, clients achieve the visibility required to identify, address and prevent revenue leakage. To learn more, visit craneware.com.
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