OCI N.V. (“OCI”) today announces that it has commenced the process to terminate its GDR and ADR programs effective 5:00 p.m. (Eastern Time) on September 24, 2018. Following the termination of the ADR program, OCI expects to cease trading its ADRs on the OTCQX International Premier.
As there are no GDRs outstanding in the GDR facility, no further action is required and no further notices will be issued.
Under the terms of the Deposit Agreement, owners and holders of ADRs will have until at least January 25, 2019 to attempt to surrender their OCI ADRs for delivery of the underlying shares.
To surrender your ADRs, the address of the Depositary is: The Bank of New York Mellon, 240 Greenwich Street, Depositary Receipts Division – 22nd Floor, Attention: Cancellation Desk, New York, NY 10286. Registered or overnight mail is the suggested method of delivering ADRs to the Depositary.
Subsequent to January 25, 2019, under the terms of the Deposit Agreement, the Bank of New York Mellon (the “Depositary”) may attempt to sell the underlying shares. ADR holders will then receive the cash proceeds from the sale of the shares held on deposit, net of the expenses of sale, any applicable U.S. or local taxes or government charges.
Further information for owners and holders of ADRs and GDRs can be found on the Bank of New York Mellon website at https://www.adrbnymellon.com/directory/dr-directory.