Implats shares trade on OTCQX, the premier tier of the Over-the-Counter (OTC) market in the USA as ADRs. The ratio between Implats ordinary South African (ZAR denominated) shares and the ADR is 1:1, i.e. one Implats ordinary share represents one ADR. Deutsche Bank Trust Company Americas acts as depositary bank for Implats ADR programme.
For those holders who are not registered because their ADRs are held through a ‘Street name’ (nominee account), your nominee will receive Company documents from time to time from Deutsche Bank to distribute to ADR holders. You need to make arrangements with your nominee if you wish to receive such documents and to be able to exercise your vote through the depositary bank at General Meetings (if applicable).
What is an American Depositary Receipt (ADR)?
An ADR is a US dollar denominated negotiable certificate that represents ownership of shares in a non-US company.
Each ADR is issued by a US depositary bank (which is a bank in the US which oversees all the stock transfer and agency services in connection with a depository receipt programme) and represents one or more shares of a foreign stock or a fraction of a share. If investors own an ADR they have the right to obtain the foreign stock it represents, but US investors usually find it more convenient to own the ADR. The price of an ADR is often close to the price of the foreign stock in its home market, adjusted for the ratio of the foreign company’s shares to ADRs. ADRs were specifically designed to facilitate the purchase, holding and sale of non-US securities by US investors.
Implats ADRs represent Implats ordinary shares deposited with the depositary bank (Deutsche Bank Trust Company Americas), to underlie such certificates and carry the rights attached to them as detailed in the Deposit Agreement. Holders of ADRs receive dividends in US dollars and have the right to vote on shareholder resolutions, where applicable.
The terms ADR and ADS are often used interchangeably. Individual shares of a foreign corporation represented by an ADR are called American Depository Shares (ADS). This is the instrument that is actually traded. Although the terms ADR and ADS are used interchangeably, the difference is that an ADR is the certificate while the ADSs are the shares.
What is Implats ADR ticker symbol, CUSIP code and ISIN code?
Implats Holdings Ltd
Ticker: IMPUY
Cusip code: 452553308
ISIN code: US4525533083
Who is Implats depositary bank, transfer agent, registrar and exchange agent for ADR shares?
Implats ADR programme is administered by Deutsche Bank Trust Company Americas (Deutsche Bank). As the depositary bank, Deutsche Bank performs the following roles for ADR holders as further detailed in the Deposit Agreement:
- Records and maintains the register of ADR holders,
- Is the stock transfer agent,
- Distributes dividends in US dollars (when declared by the Board of Directors),
- Facilitates the voting process and the exercise of the voting rights of ADR holders at any Company General Meeting if permitted by the Company and the Depositary Agreement,
- Issues and cancels Implats ADRs,
- Can distribute Company circulars and General Meetings (including Annual General Meeting) documentation, if applicable.
For those holders who are not registered because their ADRs are held through a ‘Street name’ (nominee account), your nominee will receive Company documents from time to time from Deutsche Bank to distribute to ADR holders. You need to make arrangements with your nominee if you wish to receive such documents and to be able to exercise your vote through the depositary bank at General Meetings (if applicable).
What is an ADR ratio?
This is the relation between the number of ADRs and the number of ordinary shares. One Implats ordinary shares represent one Implats ADR, i.e. the ratio is 1:1.
What is the difference between an ADR and an ADS?
An ADR (American Depositary Receipt) is a negotiable certificate issued by a depositary bank representing a specific number of shares of a non-US company traded on a US stock exchange. An ADS (American Depositary Share) is the share issued under the ADR agreement which is actually traded.
What are the benefits of ADRs to US investors?
US investors may prefer to purchase ADRs rather than ordinary shares in the issuer’s home market because ADRs trade, clear and settle in US Dollars and according to US market conventions. ADRs allow easy comparison to securities of similar companies as well as access to price and trading information. Holders of ADRs also receive dividends in US dollars.
What is an American Depositary Receipt (ADR)?
What types of companies issue ADRs?
ADR issuers are typically large multinational corporations. Any non-US company seeking to raise capital in the US or increase their base of US investors can issue ADRs.
Where do I get information and updates on Implats?
How can I get a copy of Implats’s Annual Report?
To obtain the Implats Annual Report, or other shareholder or company information please refer to the Investor Relations section of Implats website corporate reporting.
Where are Implats ADRs traded?
How do I buy/sell Implats ADRs?
You may buy/sell your ADRs through most US stockbrokers.
Does Implats have a Direct Purchase Plan?
How do I convert my ordinary shares into ADRs?
Individual Shareholders:
Converting ordinary shares into ADRs or ADRs into ordinary shares must be done through your broker or investment advisor.
Institutional brokers and custodians:
Brokers wishing to convert Johannesburg Stock Exchange Listed ordinary shares in Implats Holdings Limited (Implats) into American Depositary Receipts (ADRs) or vice versa should contact the Deutsche Bank broker desk:
New York: +1 212 250 9100
London: +44 207 547 6500
Hong Kong: +852 2203 7854 adr@db.com
What is a sponsored Level 1 ADR programme?
In a Level 1 ADR programme, the ADRs are not listed on a US stock exchange, but are traded on the US Over-the-Counter (OTC) market. Implats ADRs trade on the premier tier of the OTC market, called OTCQX
What is the US over-the-counter (OTC) market?
The US OTC trading in Level 1 ADRs is carried out by market makers using inter-dealer quotation services of the OTC Markets Group electronic market platform (Operated by OTC Market Group) https://www.otcmarkets.com. The OTC Markets Group operates a centralized electronic quotation system that collects and publishes market maker quotes for OTC securities in real-time. The OTC Markets Group is neither a Registered Stock Exchange nor a Broker-Dealer
What is the difference between a Registered ADR holder and a Beneficial ADR holder?
A registered holder is one whose name appears on the books of the depositary. The registered holder is considered the owner of record. A beneficial holder is one whose holdings are registered in a name other than their own, such as in the name of a broker, bank or nominee.
How may I check how many ADRs I hold?
If you hold your ADRs through a broker, investment advisor or custodian in a “streetname”, please contact your broker, investment advisor or custodian.
If you do not hold your ADRs via a broker, bank or nominee and/or you hold a share certificate of Implats ADRs, please contact our transfer agent:
Deutsche Bank Shareholder Services
c/o American Stock Transfer & Trust Company
Operations Centre
6201 15th Avenue
Brooklyn
NY 11219
USA
Email: DB@astfinancial.com
US Toll-free number: +1 866 249 2593
International: +1 718 921 8124
What if I lose my ADR certificate, dividend check or tax voucher?
If you do not hold via a broker, bank or nominee, please contact our transfer agent:
Deutsche Bank Shareholder Services
c/o American Stock Transfer & Trust Company
Operations Centre
6201 15th Avenue
Brooklyn
NY 11219
USA
Email: DB@astfinancial.com
US Toll-free number: +1 866 249 2593
International: +1 718 921 8124
What if I have more than one ADR certificate? Can they be combined?
Yes. Certificates can be combined by contacting our transfer agent:
Deutsche Bank Shareholder Services
c/o American Stock Transfer & Trust Company
Operations Centre
6201 15th Avenue
Brooklyn
NY 11219
USA
Email: DB@astfinancial.com
US Toll-free number: +1 866 249 2593
International: +1 718 921 8124
