'Love Boat' Docks On Wall Street; New York And London Stock Market Launch For P&O Princess Cruises.Business Editors/Travel Writers LOS ANGELES--(BUSINESS WIRE)--Oct. 23, 2000 P&O Princess Cruises plc ("P&O Princess") today sees the launch of its ADRs on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. ("POC (Proof Of Concept) See PoC exploit. POC - Point Of Contact ") and of its shares on the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. . This move follows the demerger demerger n (Comm) → Abspaltung f, Demerger m of the company from the P&O Group, a defining moment in the 150 year maritime history of the British based group. P&O Princess is the third largest cruise company in the world by revenue, operating six of the most widely recognized global brands in the cruise industry: Princess Cruises, the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. premium cruise brand; P&O Cruises, the UK's largest premium cruise brand; Aida Cruises, one of Germany's fastest growing cruise companies; the successful P&O Cruises in Australia, Swan Hellenic in the UK and Seetours International in Germany. The start of trading on the New York Stock Exchange was marked by the ringing of the opening bell by Peter Ratcliffe, Chief Executive Officer of P&O Princess Cruises, and Gavin MacLeod, well known as Captain Merrill Stubing of the popular television series "The Love Boat" and long-time spokesperson for Princess Cruises. Commenting from New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Peter Ratcliffe, Chief Executive Officer of P&O Princess Cruises, said: "As one of the big three cruise companies in the world, P&O Princess Cruises can now be properly valued by international investors alongside its competitors in the premium and contemporary cruise markets. "Cruising is one of the fastest growing travel segments, driven by increased disposable income available for leisure expenditure and demographic trends worldwide. These factors, together with high levels of satisfaction and repeat business among our cruisers, will continue to generate increased demand for worldwide cruising. We look forward to taking advantage of these growth opportunities, as we build on our strong local brands, sustain the high quality of our existing fleet of cruise ships and look to increase our global presence." Mr. Ratcliffe leads a well-established management team, which includes Nick Luff luff n. 1. a. The act of sailing closer into the wind. b. The forward side of a fore-and-aft sail. 2. Archaic The fullest part of the bow of a ship. v. as Chief Financial Officer. Commenting on the launch, Lord Sterling, Chairman of P&O Princess Cruises said: "P&O Princess begins life as an independent company with a combination of an impressive track record and distinct competitive advantages, all of which form a sound basis for its future success. "This is also an exciting day for the 18,000 employees of P&O Princess Cruises who are its greatest asset." About P&O Princess Cruises plc P&O Princess Cruises plc is one of the largest international cruise companies with operations in North America, Europe and Australia. It is a leading provider of premium cruises to Alaska, Europe, the Panama Canal and other Exotic areas, and has a growing presence in the Caribbean. The current complement of 18 ships offering 25,600 berths is set to grow in the next four years with the addition of 9 ships offering a further 19,620 berths. P&O Princess Cruises has approximately 18,000 employees worldwide and in 1999 carried over 700,000 passengers, generating revenue of over $2 billion ((pound)1.4 billion). Headquartered in London, P&O Princess Cruises' ordinary shares are quoted on the London Stock Exchange and through a sponsored American Depositary Receipt sponsored American Depositary Receipt An American Depositary Receipt in which the company whose shares are held in custody has direct involvement in issuance of the ADRs. (ADR ADR - Astra Digital Radio ) facility listed on the New York Stock Exchange, under the trading symbol "POC" in both locations. Each P&O Princess ADR (CUSIP CUSIP See: Committee on Uniform Securities Identification Procedures CUSIP See Committee on Uniform Securities Identification Procedures. 693070 10 4) represents 4 (four) ordinary shares traded on the London Stock Exchange. Each existing P&O ADR (CUSIP 707190 40 1) (POSRY) represents (pound)2 nominal of deferred stock traded on the London Stock Exchange. J.P. Morgan is depositary bank for the P&O Princess ADR and P&O ADR programs. The number of shares in issue is 681,221,588. PHOTOS Available via Associated Press/New York (212/621-1902). VIDEO FEEDS The opening bell (starting at 9:25 a.m.) feed can be accessed by fiber line at Waterfront No. 1630. The NYSE NYSE See: New York Stock Exchange Daily News Feed is available from 2:30 p.m. - 2:45 p.m. (EST EST electroshock therapy. EST abbr. electroshock therapy ) via satellite at Telstar 6, Transponder 4, C-Band, Audio 6.2 and 6.8 and by fiber line at Waterfront No. 1630. A re-broadcast of the NYSE Daily News Feed is also available following the closing bell feed (starting at 3:55 p.m.) and can be accessed by fiber line at Waterfront No. 1630. |
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