Printer Friendly
The Free Library
14,599,653 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

The Bank of New York Selected as Successor Depositary Bank by Royal Dutch Shell PLC; Appointment marks the Bank's 200th depositary successorship.


NEW YORK -- 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. , a global leader in securities servicing, has been appointed as successor depositary bank by Royal Dutch Shell plc Royal Dutch Shell PLC
 formerly Royal Dutch/Shell Group

Multinational corporation comprising two founding companies, Royal Dutch Petroleum Co. of The Hague, Neth., and Shell Transport and Trading Co., PLC, of London, Eng. The two companies began as rivals.
 for its Class "A" 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.
 (ADR ADR - Astra Digital Radio ) program. Each Royal Dutch Shell Royal Dutch Shell plc is a multinational oil company of British and Dutch origins. It is one of the largest private sector energy corporations in the world, and one of the six "supermajors" (vertically integrated private sector oil exploration, natural gas, and petroleum product  Class "A" ADR represents two ordinary shares. The ADRs trade 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.
 (NYSE NYSE

See: New York Stock Exchange
) under the symbol "RDS (1) (Remote Data Services) A set of programming interfaces from Microsoft that enables users to update data on the Internet or intranets from their ActiveX-enabled browser. .A."

This successorship continues the Bank's 47-year working partnership with the Shell Group. In addition to being the depositary bank for Royal Dutch Shell's Class "B" ADR program, the Bank also served as depositary for The "Shell" Transport & Trading Company, P.L.C. from 1958 until its unification with Royal Dutch Petroleum Company earlier this year.

Together, Royal Dutch Shell's Class "A" and "B" ADR programs are among the world's largest in terms of overall investment and trading value. Royal Dutch Shell plc is the largest company, as measured by free-float market capitalization, in The Bank of New York's ADR Index, the only real-time composite tracking all depositary receipts, New York shares and global registered shares traded on the NYSE, the American Stock Exchange American Stock Exchange (AMEX)

Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921.
 and NASDAQ NASDAQ
 in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on
.

This appointment also marks the 200th depositary receipt (DR) program to be switched to The Bank of New York since 1990. In the past year, companies that have moved their DR programs to The Bank of New York from other depositaries include France's Thomson and Aventis, U.K.'s J. Sainsbury, Mexico's America Movil and The Netherlands' VNU VNU Volontaires des Nations Unies (French)
VNU Verenigde Nederlandse Uitgeversbedrijven (Dutch)
VNU Virtual Network User
.

Christopher Sturdy, managing director and head of The Bank of New York's Depositary Receipt Division, said, "We are delighted that after experiencing our depositary services first-hand Royal Dutch Shell chose to entrust its Class 'A' program to us, and we are ready to help their ADRs earn greater exposure in the U.S. marketplace. As the world's largest depositary, we have the professional expertise and flexibility to help companies in diverse sectors and regions successfully grow their existing DR programs. This valued appointment highlights our track record as the depositary of choice for experienced issuers, and we are looking forward to our 201st successorship appointment."

Royal Dutch Shell plc is principally a holding company. The company is incorporated in the United Kingdom, under English Law, and headquartered in The Netherlands. The Shell Group, which includes Royal Dutch Shell and its subsidiaries, is a global group of energy and petrochemicals companies that operates in more than 140 countries and territories. Shell Companies maintain five core operating segments: exploration and production, oil products, downstream gas and power, chemicals and renewables.

The Bank of New York sponsors more than 1,200 American and global depositary receipt programs, a 65% market share, acting in partnership with leading companies from 60 countries. With an unrivalled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the Bank delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Additional information is available at www.adrbny.com.

The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, investment management, and individual & regional banking services. The Company's extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com.

The Bank of New York provides no advice nor recommendation or endorsement with respect to any company or security. Nothing herein shall be deemed to constitute an offer or solicitation of an offer to buy or sell securities.
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1USA
Date:Nov 1, 2005
Words:658
Previous Article:Software Industry Leaders Address the Real World Value of SOA and Introduce a New SOA Maturity Model in Webinar Series.
Next Article:Higher Ed Institutions Turn to Blackbaud to Address Advancement Challenges; Major Institutions Rely on Blackbaud to Drive Alumni, Major, and Planned...
Topics:



Related Articles
The Bank of New York Appointed Successor Depositary Bank for Autonomy Corporation plc.
The Bank of New York Appointed Successor Depositary Bank for Reed Elsevier NV and Reed Elsevier PLC.
The Bank of New York Selected as Depositary Bank and Exchange Agent by Royal Dutch Shell plc; Appointments Continue a 47-Year Working Partnership.
Deutsche Bank Appointed as Successor Depositary Bank for the American Depositary Receipt Program of Deutsche Telekom AG.
Deutsche Bank Appointed as Successor Depositary Bank for the NASDAQ-Quoted American Depositary Receipt Program of Reuters Group Plc.
Depositary Receipts Surpassed Trillion-Dollar Milestones in 2005, According to The Bank of New York Year-End Report.
The Bank of New York Appointed by Telecom Egypt, S.A.E. as Depositary Bank.
The Bank of New York Appointed Successor Depositary Bank for MOL Hungarian Oil and Gas Plc.
The Bank of New York to Act as Depositary Bank for MOL Hungarian Oil and Gas Plc's Level I DR Upgrade.(Company overview)
Building firm taps B of NY as successor depositary.(FINANCE)(Company overview)

Terms of use | Copyright © 2009 Farlex, Inc. | Feedback | For webmasters | Submit articles