Atlantic Caspian Resources Announces Introduction of ADR's and Appointment of Financial Communication Firms.LONDON--(BUSINESS WIRE)--Feb. 3, 1998--The directors of Atlantic Caspian Resources Plc (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ALCRY) announced the completion of the registration of its American Depository Receipts American Depository Receipt n. called in the banking trade an ADR, it is a receipt issued by American banks to Americans as a substitute for actual ownership of shares of foreign stocks. ("ADR ADR - Astra Digital Radio ") facility with the United States Securities and Exchange Commission and the Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. , the Company's US Depository Bank. The Company's ADR's began trading on the electronic bulletin board of the American Dealer Network Friday, January 30, under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors 'ALCRY'. Each ADR represents 10 ordinary Shares of the Company's stock. The Company's ordinary shares trade on the British AIM Exchange under the ticker symbol "ACA ACA - Application Control Architecture ". Atlantic Caspian anticipates that the facility will significantly increase its international investor base as the Company continues to gain recognition for its achievements in both developing and producing its oil field assets in the Caspian Sea region. Commenting on the listing of the Company's ADR's, Chief Executive Officer, Douglas Biles, stated, "The international investment community is becoming increasingly aware of the significance of the vast oil resources of the Caspian Sea region where our activities are focused. In recognition of this, we are hopeful that an ADR trading facility will not only establish cross-border trading in our shares, but also have a positive impact on the development of a strong international investor base, particularly among institutional investors." In another matter, Atlantic Caspian has appointed Liviakis Financial Communications Inc., and Capital Communication Ltd., two U.S. based financial communication firms to assist the company with its investor relations Investor relations The process by which the corporation communicates with its investors. program in the United States. Atlantic Caspian Resources Plc is an oil production and trading company which is acquiring a portfolio of proven and probable oil reserves in the Caspian region which are capable of producing oil quickly, efficiently and economically. CONTACT: Atlantic Caspian Douglas Biles, 44 (0)171 629-9559 or Investor Relations: Capital Communications Ltd., 916/353-1953 or Liviakis Financial Communications Inc. Robert B. Prag, 916/448-6084 |
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