NEW YORK, June 19, 2012 /PRNewswire/ -- BNY Mellon,
the global leader in investment management and investment services,
has been appointed by Severn Trent Plc as sponsored depositary bank
for its American Depositary Receipt (ADR) program.
Previously, Severn Trent traded as an unsponsored ADR program
serviced by multiple depositaries. Each Severn Trent ADR
represents one ordinary share and trades on the OTCQX platform
under the symbol "STRNY." Severn Trent's local shares trade
on the London Stock Exchange under the code "SVT" and are a
constituent of the FTSE 100 share index.
Severn Trent has two businesses: Severn Trent Water, which
provides water and sewerage services to 4.2 million households and
businesses in the U.K., and Severn Trent Services, a
U.S.-headquartered supplier of water and waste water treatment
solutions with a growing presence in North America, Europe, the Middle
East and Asia.
"We established this sponsored ADR to enhance our U.S. investor
relations efforts," said John
Crosse, head of investor relations for Severn Trent.
"We look forward to working with BNY Mellon's staff as they help us
expand our shareholder base and visibility in the U.S. capital
market."
"We'll work closely with Severn Trent's management team to help
it realize the added benefits of a sponsored ADR program," said
Michael Cole-Fontayn, CEO of BNY Mellon's Depositary Receipts
business. "Global investors can now access 85% of the FTSE
100 constituents in ADR form, offering them an easy and efficient
way to trade the large companies which comprise that index."
BNY Mellon acts as depositary for more than 2,500 American and
global depositary receipt programs, acting in partnership with
leading companies from 65 countries. BNY Mellon is committed
to helping securities issuers access the world's rapidly evolving
financial markets and delivers a comprehensive suite of depositary
receipt services. Learn more at www.bnymellon.com/dr.
BNY Mellon is a global financial services company focused on
helping clients manage and service their financial assets,
operating in 36 countries and serving more than 100 markets.
BNY Mellon is a leading provider of financial services for
institutions, corporations and high-net-worth individuals, offering
superior investment management and investment services through a
worldwide client-focused team. It has $26.6 trillion in assets under custody and
administration and $1.3 trillion in
assets under management, services $11.9
trillion in outstanding debt and processes global payments
averaging $1.4 trillion per
day. BNY Mellon is the corporate brand of The Bank of New
York Mellon Corporation (NYSE: BK). Learn more at
www.bnymellon.com or follow us on Twitter@BNYMellon.
This release is for informational purposes only. BNY Mellon
provides no advice nor recommendation or endorsement with respect
to any company or securities. Nothing herein shall be deemed to
constitute an offer to sell or a solicitation of an offer to buy
securities. Depositary Receipts: Not FDIC, State or Federal Agency
Insured; May Lose Value; No Bank, State or Federal Agency
Guarantee.
SOURCE BNY Mellon