Craneware Launches American Depositary Receipt Program

9th Jul 2010 07:35

LONDON (Dow Jones)--Craneware Plc (CRW.LN), an automated revenue integrity solutions company for the U.S. healthcare market, announced Friday the launch of its American Depositary Receipt or ADR program. MAIN FACTS: -Each Craneware ADR represents two ordinary shares and will trade on the Over-the-Counter or OTC market in the U.S.. -The Bank of New York Mellon Corp. (BK), has been appointed by Craneware as the depositary bank for its ADR program. -An ADR is a negotiable U.S. certificate representing ownership of shares in a non-U.S. corporation. -ADRs trade and settle in the U.S. in dollars; dividends are also paid to investors in dollar form. -ADRs were specifically designed to facilitate the purchase, holding and sale of non-U.S. securities by U.S. investors, and to provide a corporate finance vehicle for non-U.S. companies. -ADRs can be held in book-entry form or as a physical certificate. -Shares closed Thursday at 400 pence. -By Zechariah Hemans, Dow Jones Newswires; 44-20-7842-9411; [email protected] (END) Dow Jones Newswires July 09, 2010 02:35 ET (06:35 GMT)