FIAT Announces Intention to Delist From NYSE And to Terminate Registration of Its Shares And ADSs Under the Exchange Act.TURIN, Italy -- FIAT S.p.A. (NYSE NYSE See: New York Stock Exchange : FIA FIA feline infectious anemia. ) (the "Company") today filed with the United States Securities and Exchange Commission (the "SEC") a Form 15F in order to terminate its duty to file reports pursuant to the U.S. Securities Exchange Act of 1934 (the "Exchange Act") and announced its intention to proceed with the delisting of its American Depositary Shares, each representing the right to receive one ordinary, preference or savings share of the Company (the "ADSs"), from 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. (the "NYSE"). In light of the sustained low trading volumes of its shares in the United States, the Company has decided to take advantage of recent amendments by the SEC to the requirements foreign private issuers such as Fiat must meet in order to terminate their registration and reporting obligations under the Exchange Act. The delisting and deregistration deregistration removal of right to practice by local registering body, usually as a disciplinary measure because of professional misconduct, possibly because of inability to perform because of psychiatric problem. do not affect Fiat's business strategy in the United States nor its commitment to high standards of corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. and financial reporting. The Company expects to file with the SEC a Form 25 on or about August 13, 2007. Fiat expects delisting to become effective 10 days after such date and deregistration to become effective 90 days after the filing of its Form 15F. Fiat has not arranged for listing and/or registration of its ordinary, preference or savings shares or ADSs on any other U.S. national securities exchange or for quotation of these securities in any quotation medium (as defined in Rule 15c2-11 under the Exchange Act), but it will maintain its American Depositary Receipt American Depositary Receipt (ADR) Certificates issued by a US depository bank, representing foreign shares held by the bank, usually by a branch or correspondent in the country of issue. facility with Deutsche Bank as a Level I program. Fiat's ordinary, preference and savings shares will remain listed on the Italian Stock Exchange Italian Stock Exchange (ISE) The Milan-based stock exchange, which came into effect after the unification of Italy's ten national exchanges in 1991. All listed securities are traded electronically. , which constitutes the primary trading market for each class of Fiat shares. The Company will continue to make English translations of its annual and interim reports and financial press releases available on its website www.fiatgroup.com . |
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