The Bank of New York Selected as Depositary by Protherics PLC for its Listed Program
NEW YORK, September 27, 2005 - The Bank of New York, a global leader in securities servicing, has been selected by Protherics PLC as depositary bank for its listed American depositary receipt (ADR) program. Each Protherics ADR represents ten ordinary shares. The ADRs trade on the NASDAQ Stock Market under the symbol "PTIL," and the ordinary shares are listed on the London Stock Exchange.
Headquartered in London, Protherics is a biopharmaceutical company engaged in the development, manufacture and sale of pharmaceutical products.
Andrew J. Heath, PhD, M.D., chief executive officer of Protherics, said, "As we expand our presence in the U.S., Protherics wanted to work with a depositary bank that would help streamline our program’s administration and generate the greatest visibility, and we are confident that The Bank of New York will help us meet those challenges."
Christopher Sturdy, managing director and Head of The Bank of New York’s Depositary Receipt Division, said, "As the depositary bank for nearly 80% of all DR programs from pharmaceutical and biotechnology companies, we know the sector well and have the expertise necessary to help Protherics raise market awareness and stimulate interest in its program."
The Bank of New York sponsors more than 1,190 American and global depositary receipt programs, a 64% market share, acting in partnership with leading companies from 60 countries. With an unrivalled commitment to helping securities issuers succeed in the world’s rapidly evolving financial markets, the Bank delivers the industry’s most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Additional information is available at www.adrbny.com.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, investment management, and individual & regional banking services. The Company’s extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com.
The Bank of New York provides no advice nor recommendation or endorsement with respect to any company or security. Nothing herein shall be deemed to constitute an offer or solicitation of an offer to buy or sell securities.
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