Dear Ylwvette, here is a response from one of my colleagues in US
Please see the ADR Overview section on the Magnolia LNG website that provides a useful overview of the difference between the Company's ADRs (LNGLY) and the LNGLF securities. This overview can be found here: http://www.magnolialng.com/irm/content/adr.aspx?RID=315
Please note that while the LNGLY shares are ADRs with Deutsche Bank and are a sponsored ADR (with LNG supporting the listing), LNGLF securities are essentially derivative securities traded in the US by market makers without the support of LNG. For the market makers to create these derivative LNGLF securities they would presumably have to buy LNG shares in the Australian market but, unlike our sponsored ADR program we have no visibility into this so are unable to provide an opinion.
Unlike the LNGLY ADRs, there is no communication or agreement with the market makers who have set up the LNGLF security. As such, in the event of any US listing the Company will only be able to make adequate plans for the existing LNGLY ADRs. As the Company has no agreement or communication with the market makers controlling the LNGLF securities, the Company is unable to provide any guidance as to how those market makers would deal with those securities in the event of a US listing by LNG.
Regards
David Gardner
Company Secretary
Liquefied Natural Gas Limited
-----------------------------------
T +61 (0)8 9366 3700
F +61 (0)8 9366 3799
www.LNGlimited.com.au
-----------------------------------
- Forums
- ASX - By Stock
- LNG
- Feeling tremors
Feeling tremors, page-7
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add LNG (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
RCE
RECCE PHARMACEUTICALS LTD
James Graham / Dr Alan Dunton, MD & CEO / Non-Executive Director
James Graham / Dr Alan Dunton
MD & CEO / Non-Executive Director
SPONSORED BY The Market Online