Sims Metal Management Limited to deregister from SEC in US
(Thomson Reuters ONE) -
Sydney, Australia and New York, 14 October 2014 (ASX:SGM) (OTC:SMSMY) -- Sims
Metal Management Limited (the Company) announced today that it intends to
deregister its American Depositary Receipts (ADRs) under the U.S. Securities
Exchange Act (Exchange Act). This follows the delisting of the ADRs from the New
York Stock Exchange (NYSE) on 11 October 2013.
As the Company has now met the criteria for deregistration, the Company plans to
file a Form 15F with the U.S. Securities and Exchange Commission (SEC) to
terminate the registration of the Company's ADRs under the Exchange Act. Upon
the filing of the Form 15F, the Company's obligation to file certain reports
with the SEC, including Forms 20-F and 6-K, will immediately be suspended. The
Company expects that the deregistration of its ADRs will become effective, and
the Company's Exchange Act reporting obligations will be terminated, 90 days
after the filing of the Form 15F with the SEC.
The Company will continue to provide a sponsored ADR programme in conjunction
with Bank of New York Mellon in the U.S. on the 'over-the-counter' (OTC) market
to enable investors to trade ADRs. The Company's ordinary shares are entirely
unaffected by the proposed deregistration and will continue to be listed on the
Australian Securities Exchange.
Cautionary Statements Regarding Forward-Looking Information
This release may contain forward-looking statements, including statements about
Sims Metal Management's financial condition, results of operations, earnings
outlook and prospects. Forward-looking statements are typically identified by
words such as "plan," "believe," "expect," "anticipate," "intend," "outlook,"
"estimate," "forecast," "project" and other similar words and expressions.
These forward-looking statements involve certain risks and uncertainties. Our
ability to predict results or the actual effects of our plans and strategies is
subject to inherent uncertainty. Factors that may cause actual results or
earnings to differ materially from these forward-looking statements include
those discussed and identified in filings we make with the Australian Securities
Exchange and the risk factors described in the Corporate Governance section of
the Company's web site. Because these forward-looking statements are subject to
assumptions and uncertainties, actual results may differ materially from those
expressed or implied by these forward-looking statements. You are cautioned not
to place undue reliance on these statements, which speak only as of the date of
this release.
All subsequent written and oral forward-looking statements concerning the
matters addressed in this release and attributable to us or any person acting on
our behalf are expressly qualified in their entirety by the cautionary
statements contained or referred to in this release. Except to the extent
required by applicable law or regulation, we undertake no obligation to update
these forward-looking statements to reflect events or circumstances after the
date of this release.
All references to currencies, unless otherwise stated, reflect measures in
Australian dollars.
About Sims Metal Management
Sims Metal Management is the world's largest listed metal recycler with over
250 facilities and 6,000 employees globally. Sims' core businesses are metal
recycling and electronics recycling. Sims Metal Management generates
approximately 60% of its revenue from operations in North America. The Company's
ordinary shares are listed on the Australian Securities Exchange (ASX: SGM) and
its ADRs are listed in the United States on the Over-the-Counter market
(OTC:SMSMY). Please visit our website (www.simsmm.com) for more information on
the Company and recent developments.
Investor and media inquiries contact
Todd Scott
Group Vice President - Investor Relations
Tel: +61 4 0960 0352
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Sims Metal Management Limited via GlobeNewswire
[HUG#1862710]
Unternehmensinformation / Kurzprofil:
Bereitgestellt von Benutzer: hugin
" alt="Cypress Drills 230 feet of 13% Zinc and 83 g/t Silver at Gunman Project in NevadaDatum: 14.10.2014 - 07:03 Uhr
Sprache: Deutsch
News-ID 343589
Anzahl Zeichen: 4855
contact information:
Town:
New York
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 190 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Sims Metal Management Limited to deregister from SEC in US"
steht unter der journalistisch-redaktionellen Verantwortung von
Sims Metal Management Limited (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
