NYSE to Suspend American Depositary Shares of Elster Group
Trading in the American Depositary Shares of Elster Group SE – Ticker symbol ELT – was suspended since August 29, 2012, the New York Stock Exchange announced.
Following suspension, application will be made to the Securities and Exchange Commission to delist the issue.
The NYSE said it will normally suspend the securities of a company when the number of outstanding American Depositary Shares is less than 600,000. As an outcome of receiving the final results on the completion of the tender offer by Mintford AG an indirect wholly owned subsidiary of Melrose PLC, fewer than 600,000 American Depositary Shares of the Company remain publicly held.
The company has a right to review this determination by a Committee of the Board of Directors of NYSE Regulation. Application to the Securities and Exchange Commission to delist this issue is pending the completion of applicable procedures, including any appeal by the Company of the NYSE’s staff decision.
The NYSE noted that it may, at any time, suspend a security if it believes that continued dealings in the security on the NYSE are not advisable.