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Naturex Implements Sponsored Level I ADR program


Naturex Implements Sponsored Level I ADR program

Date:19 December 2011

Type:Business News

Source:Food Ingredients First

Sector:Functional & Fortified Foods, Nutrition

Summary:The ADRs issued are eligible to begin trading on over-the-counter market in the United States from 16 December 2011, under the symbol NTUXY. To facilitate trades, ADRs were issued using a ratio of 4 ADRs for one ordinary share of NATUREX.

Dec 19 2011 --- Naturex S.A., a world leader in specialty plant-based ingredients, has announced that it has implemented a Level I American Depositary Receipt (ADR) program, sponsored by BNY Mellon, as the depositary bank.

The ADRs issued are eligible to begin trading on over-the-counter market in the United States from 16 December 2011, under the symbol NTUXY. To facilitate trades, ADRs were issued using a ratio of 4 ADRs for one ordinary share of Naturex.

The company’s ordinary shares are currently listed on Compartment B on NYSE Euronext Paris under the symbol NRX.

Over the past 20 years, Naturex has been pursuing a significant international development strategy through both organic growth and external growth.

In the U.S., Naturex Inc. (a wholly owned subsidiary of Naturex) enhanced its historical presence primarily through four major acquisitions of niche players in plant extracts for the food and nutraceutical industries: Brucia Plant Extracts Inc. in 2002, Hauser Inc. (Rosemary extracts activities) in 2004, Pure World Inc. in 2005 and Chart Corporation Inc. in 2007.

Nearly 30% of the Group's sales are generated in the United States, where Naturex Inc. operates two industrial sites (South Hackensack, New Jersey and Shingle Springs, California) and has a sales office in South Hackensack, New Jersey.

“A major actor in the U.S. in specialty natural ingredients for food and nutraceuticals, Naturex has an efficient industrial operation and a dynamic sales force in the United States. It was therefore obvious to offer U.S. investors the opportunity to participate in the future development of our Group” says Jacques Dikansky, President and CEO of Naturex.

 “We believe that this Sponsored, Level I, American Depositary Receipt (ADR) program will facilitate U.S investors’ access to Naturex shares and improve the visibility of the Group in the U.S. market.”

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