Overview
Marks and Spencer Group established a sponsored Level I American Depositary Receipt (ADR) program with Deutsche Bank Trust Company Americas (Deutsche Bank).
Ticker: MAKSY
Structure: Level | ADR
Exchange: OTC
Ratio (ADR:ORD): 1 ADS : 2 ORD
DR ISIN: US5709121058
CUSIP: 570912105
Contact details for ADR investors and brokers:
Deutsche Bank ADR broker services desks
New York: Tel +1 212 250 9100
London: +44 207 547 6500
Contact details for registered ADR holders:
Deutsche Bank Shareholder Services
American Stock Transfer & Trust Company
Operations Center
6201 15th Avenue
Brooklyn, NY 11219
Email: [email protected]
Toll-free number: (800) 937-5449
Direct dial: (718) 921-8124
The Company’s ADR program is sponsored by Deutsche Bank. As the depositary bank Deutsche Bank performs the following roles for ADR holders:
- Records and maintains the register of ADR holders.
- Is the stock transfer agent
- Distributes dividends in US dollars.
- Facilitates the proxy voting process and exercises the voting rights on behalf of ADR holders.
- Issues and cancels Marks and Spencer Group ADRs.
For those holders which are not registered because their shares 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).
ADRs are a negotiable US dollar-denominated certificate representing ownership of shares in a non-US company. Marks and Spencer Group’s ADRs represent Marks and Spencer Group’s ordinary shares deposited with the depositary bank, to underlie such certificates and carry the rights attached to them as detailed in the Depositary Agreement. Holders of ADRs receive dividends in US dollars (if applicable) and have the right to vote on shareholders’ resolutions. The terms ADR and ADS are often used interchangeably. ADRs were specifically designed to facilitate the purchase, holding and sale of non-US securities by US investors.
This is the relation between the number of ADRs and the number of ordinary shares. Every 2 ordinary Marks and Spencer Group shares represent 1 Marks and Spencer Group ADR.
US investors may prefer to purchase ADRs rather than ordinary shares in the issuer’s home market because ADRs trade, clear and settle according to U.S.US market conventions. One of ADRs’ top advantages is the facilitated diversification into foreign securities. ADRs also allow easy comparison to securities of similar companies as well as access to price and trading information.
US investors may prefer to purchase ADRs rather than ordinary shares in the issuer’s home market because ADRs trade, clear and settle according to US market conventions. One of ADRs’ top advantages is the facilitated diversification into foreign securities. ADRs also allow easy comparison to securities of similar companies as well as access to price and trading information.
Marks and Spencer Group established the ADR program to make it easier for US investors to buy the Marks and Spencer Group share. Trading ADRs simplifies foreign investments for US investors as administrative costs are reduced and capital gains are realised in US dollars.
ADR issuers are typically large multinational corporations. Any non-US company seeking to raise capital in the US or increase its base of US investors can issue ADRs.
Information is widely available on Marks and Spencer Group’s website in the investors section.
Trading information is readily available on the depositary bank’s website: https://www.adr.db.com/drweb/dr_details.html?identifier=2154&identifierType=DRID
Marks and Spencer Group ADRs are traded over-the-counter (OTC). Marks and Spencer Group has chosen to have the ADRs quoted on the OTC market's highest tier, International PremierQX. More information can be obtained from, www.otcqx.com.
The OTC market is a decentralised market of securities that are not listed on a stock exchange. Trading on the OTC market occurs via a network of dealers who carry inventories of securities to facilitate the buy and sell orders of investors.
Deutsche Bank Trust Company Americas. The depositary bank plays a key role in issuance as well as cancellation of ADRs. It also maintains the ADR holder register, distributes the dividends in US dollars, and facilitates the exercise by the ADRs’ holders of their voting rights.
Marks and Spencer Group ADRs are denominated in US dollars.
A registered holder is one whose name appears on the books of the depositary bank. 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.