Logitech to Exchange Nasdaq-Listed ADRs for Shares; Same Shares to be Traded in U.S. and Switzerland.FREMONT, Calif. & ROMANEL-SUR-MORGES, Switzerland -- Logitech International (SWX SWX Swiss Exchange (trademark of SWX Swiss Exchange) SWX SolidWorks (3D solid modeling CAD software) SWX Splitter / Wave Division Multiplexer :LOGN) (Nasdaq:LOGI LOGI Logitech Intl. (stock symbol) ) today announced that it intends to exchange its Nasdaq-listed American Depositary Receipts 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. (ADRs) for Logitech shares, providing investors with the ability to trade the same Logitech securities on the Nasdaq Global Select Market as well as on the SWX Swiss Exchange SWX Swiss Exchange An all-electronic securities exchange formed from the 1995 merger of exchanges in Geneva, Basel, and Zurich. The exchange offers trading in equity securities, investment funds, exchange-traded funds, bonds, Eurobonds, and options. . "We're pleased that we can soon offer investors the convenience of trading all Logitech shares on Nasdaq," said Mark Hawkins, Logitech senior vice president of finance and information systems, and chief financial officer. "We expect this to lead to enhanced liquidity for investors trading on Nasdaq." The exchange is expected to become effective in the second half of October 2006. The trading symbol Trading symbol See: Ticker symbol for Logitech shares will remain LOGI on Nasdaq and LOGN on the SWX. On the effective date, the Logitech ADR ADR - Astra Digital Radio program will be terminated and one ADR will be exchanged on a mandatory basis for one share. Investors holding Logitech ADRs through their bank or brokerage will have their account automatically credited with Logitech shares on or soon after the effective exchange date. Investors holding ADR certificates will receive information from 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 depositary DEPOSITARY, contracts. He with whom a deposit is confided or made. 2. It is, the essence of the contract of deposits that it should be gratuitous on the part 'of the depositary. 9 M. R. 470. for Logitech ADRs, regarding how they can receive their Logitech shares. Additional information about the share exchange is available on Logitech's Web site. About Logitech Founded in 1981, Logitech designs, manufactures and markets personal peripherals that enable people to effectively work, play, and communicate in the digital world. Logitech International is a Swiss public company traded on the SWX Swiss Exchange (LOGN) and in the U.S. on the Nasdaq Global Select Market (LOGI). This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. regarding Logitech's plans to exchange its Nasdaq-listed ADRs for Logitech registered shares and expected benefits arising from the exchange, and the related termination of Logitech's ADR facility. These statements are made on the basis of the views and assumptions of the management of Logitech regarding future events and business performance as of the time the statements are made and they do not undertake any obligation to update these statements. Actual results may differ materially from those expressed or implied. Factors that could cause actual results to differ materially include Logitech's ability to successfully implement the global share exchange, as well as those additional factors set forth in Logitech's periodic filings with the Securities and Exchange Commission, including Logitech's annual report on Form 20-F for the fiscal year ended March 31, 2006, and Logitech's quarterly reports on Form 6-K, available at www.sec.gov. Logitech, the Logitech logo and other Logitech marks are owned by Logitech and may be registered. All other trademarks are the property of their respective owners. For more information about Logitech and its products, visit the Company's Web site at www.logitech.com. (LOGI - IR) |
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