Cadence closed its ADR programme which became effective on 14th January 2019 at 5:00pm (Eastern Time) (the “Termination Date”). Cadence decided to take this action due to trading volumes of the ADRs being insufficient to justify the maintenance costs of the additional listing.
Under the terms of the Deposit Agreement, holders of American Depositary Shares (“ADSs”) have until the Termination Date to surrender their ADSs for cancellation and to take delivery of the underlying shares. Holders are reminded that any time after the Termination Date, Deutsche Bank (“the Depositary”) may sell the securities represented by then outstanding ADSs and may thereafter hold uninvested the net proceeds of any such sale, without liability for interest. If ADS holders surrender their ADSs for delivery of the underlying shares, they must pay a cable fee of $15.00 and a cancellation fee of $0.05 per ADS surrendered and any applicable U.S. or local taxes or governmental charges. For more details and for official instructions on how to surrender ADSs please contact firstname.lastname@example.org.
The Company would like to note that holders of Cadence’s ordinary shares will remain unaffected by the termination of the ADRs.
Contact details for institutional ADR investors and brokers:
Deutsche Bank ADR broker services desks
New York: +1 212 250 9100
London: +44 207 547 6500
Contact details for registered ADR holders:
Deutsche Bank Shareholder Services
American Stock Transfer & Trust Company
6201 15th Avenue
Brooklyn, NY 11219
Toll free number: (866) 249 2593 (if calling from within the U.S.)
Direct Dial: +1 718 921 8124 (if calling from outside the U.S.)