WHAT IS AN AMERICAN DEPOSITARY RECEIPT (ADR)?
ADRs are a negotiable US-dollar denominated certificate representing shares in a non-US company. Veolia Environnement’s ADRs represent Veolia’s Environnement’s ordinary deposited with the depositary bank, which underlie such certificates and carry the associated shareholder rights. Holders of ADRs have the right to vote on shareholder resolutions and receive dividends in US dollars. The term ADR and ADS are often used interchangeably. were specifically designed to facilitate the purchase, holding and sale of non-U.S. securities investors, and to provide a corporate finance vehicle for non-U.S. companies.
WHAT ARE THE BENEFITS OF ADRS TO US INVESTORS?
U.S. investors may prefer to purchase ADRs rather than ordinary shares in the issuer’s home market because ADRs are priced in US dollars and trade, clear and settle according to U.S. market conventions. One of an ADRs’ advantages is the facilitated diversification into foreign securities.
HOW DO I CONVERT MY ORDINARY SHARES INTO ADRS?
Converting ordinary shares into ADRs must be done through a broker, an investment advisor through Deutsche Bank Trust Company Americas.
HOW DO I BUY/SELL VEOLIA ENVIRONNEMENT ADRS?
You may buy or sell Veolia ADRs through your broker or through Veolia’s depositary bank, Deutsche Bank, which offers an ADR purchase program called DB Global Direct.
CAN I BUY/SELL ADRS DIRECTLY THROUGH VEOLIA?
No. You may only buy or sell Veolia ADRs through your broker or through Veolia’s depositary bank, Deutsche Bank which offers an ADR purchase program called DB Global Direct.
WHAT IS THE RATIO OF ORDINARY SHARES TO ADRS?
The ratio of ordinary shares to ADRs is 1:1, i.e. every Veolia ADR represents one Veolia share.
WHERE ARE VEOLIA’S ADRS TRADED?
WHAT IS THE U.S. OVER-THE-COUNTER (OTC) MARKET?
WHAT IS THE DIFFERENCE BETWEEN A REGISTERED HOLDER AND A BENEFICIAL ADR HOLDER?
A registered holder is one whose name appears on the books of the depositary. The registered holder is considered the owner of the record. A beneficial holder is one whose holdings registered in a name other than his or her own, such as the name of a broker or bank.