SEC Authorization for the Cementos Argos American Depository Receipt (ADR) Program
October 22 2008 - 8:00AM
PR Newswire (US)
MEDELLIN, Colombia, Oct. 22 /PRNewswire-FirstCall/ -- Cementos
Argos S.A. (OTC:CMTOY) (BULLETIN BOARD: CMTOY) has been authorized
by the U.S. Securities and Exchange Commission (SEC) to offer its
shares on the "over the counter" (OTC) market as part of a Level 1
ADR program. Pursuant to this program, 5 ordinary shares in
Cementos Argos are worth 1 American Depositary Receipt, or ADR.
Argos' ADRs shall be traded under the symbol CMTOY. In connection
with this Level 1 ADR program, Cementos Argos signed a securities
deposit agreement with the Bank of New York Mellon, which shall act
as depository bank. Fiduciaria Bancolombia shall act as the local
custodian bank for all those ordinary shares in Cementos Argos that
are represented by these ADRs. This Level 1 ADR program allows for
shares in Cementos Argos to be traded on the "over the counter"
market and not on stock exchanges such as the NYSE, AMEX or NASDAQ.
This Level 1 ADR program is a further step in Cementos Argos�
strategy to gain greater international scale, thereby increasing
its visibility on the international markets and possibly extending
its investor base. CEMENTOS ARGOS Argos is the fifth-largest cement
producer in Latin America, the sixth ready mix player in the U.S.
market and the leader of the cement industry in Colombia. Its core
businesses are cement, concrete and aggregates. The company's
products reach more than 31 countries in the Americas. DATASOURCE:
Cementos Argos S.A. CONTACT: Maria Clara Aristizabal, Cementos
Argos, +011-574-319-8712,
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