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SEC approves GOWEX ADR Program (American Depositary Receipt) for a listing on the U.S. market.

* The Securities and Exchange Commission has approved GOWEX's ADR program; the certificates will soon begin trading in the U.S.

* This first step for GOWEX on the strategic North American market paves way for new strategic projects, new investors and a worldwide visibility

MADRID -- Regulatory News:

GOWEX (MAD:GOW) (Paris:ALGOW), leader in creating Wi-Fi Smart Cities (Wireless Smart Cities[R]) and Intelligent Wi-Fi Transport, has received approval from the Securities Exchange Commission (SEC) to initiate a program of ADR (American Depositary Receipt) in the U.S. market.

* The ADR is a negotiable U.S. certificate representing ownership of shares from a company registered outside the U.S. and is designed to provide easier purchase, holding and sale of foreign securities by U.S. investors.

Isin Number : US5272611014

GOWEX ADRs will be listed in dollars on the Over the Counter "OTC" market, under the ISIN Number US5272611014. The parity between ADR and an ordinary share has been set as 1:1, one ADR corresponds to one common share of GOWEX.

Bank of New York Mellon will act as depositary bank responsible for managing the ADR program.

GOWEX Objectives

Thanks to the ADR program American and international investors will easily access to GOWEX shares reinforcing the company's global visibility and liquidity. It will increase the shareholder base, with investors around the world and promote a more efficient price establishment.

Jenaro Garcia pointed out that "GOWEX today opens the door to investors coming from the most market friendly country." In addition, the CEO of GOWEX stressed that "for us, the entry into the U.S. market is a quantum evolution for our roadmap; it will be a fundamental leap in quality and visibility for the importance of our company."

Documents are available on the SEC website.


GOWEX (GOW-MAB, ALGOW-NYSE Euronext) has operated in the telecommunications sector for 13 years. It is currently leading the creation of "Wi-Fi Cities," which offers free and premium Wi-Fi connectivity on the street and in means of public transportation. The company is now exporting its innovative business models to many cities in Europe, South America, Asia, and emerging countries.

In 2010, it became the first and only Spanish SMB to make a "dual listing," publicly traded in MAB (GOW) and NYSE-Euronext (ALGOW). The company's total revenue amounted to [euro]66.7 million in 2011, and for the first half of 2012, it was [euro]41 million (60% over the same period on 2011. On December 2012, GOWEX subscribed a [euro]18 million capital, adding 1,528,404 new common shares to the market.

With offices in Madrid, Burgos, Buenos Aires, London, San Jose (Costa Rica), Paris, and Shanghai, GOWEX develops a sustainable business model in its Wi-Fi networks, based on the efficient and technical quality of their patented platforms: the Roaming Platform, which allows users to connect freely in all the cities, and the Geolocalization Content and Advertisement Platform, which provides financing business through marketing and advertisement agreements.

In 2011, GOWEX joined the Wireless Broadband Alliance and received a prize for the "Best Web Company" on Internet Day.

In February 2012, Jenaro Garcia GOWEX CEO received the "Entrepreneur of the Year Award" by Ernst & Young in the category of "Innovation".


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Publication:Business Wire
Geographic Code:4EUSP
Date:Feb 20, 2013
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