raising funds via bank of ny mellon

quick question in case it has been covered previously.

where Bank of NY Mellon is actively buying common stock here, for the purpose of bundling it into ADRs for the Nasdaq listing, has there been any discussion here or statements from the company (none that i have seen so far, anyway), which suggests or clearly states that PRR has an agreement with BNYM to share profits generated from the selling of the ADRs?

I raise this as i do expect that the ADRs will see a significant appreciation in the value of the underlying PRR common stock. If this occurs, then obviously the ADRs will generate significant profits for BNYM.

This, in other words, represents a solid opportunity for PRR to raise funds via the agency work being undertaken by BNYM.

This is not an IPO which serves the purpose of raising funds for a newly listed company, but it is a listing where an agent of the company, Bank of New York Mellon, is purchasing common stock here, to sell in the US via ADRs.

Surely there is nothing preventing PRR sharing in any (and possibly significant) profits generated on the issue and sale of those ADRs.

Where PRR terminated the Spring-Tree facility with no mention of future funding plans, it seems to make sense that the company may be looking to generate funds from the sale of the ADRs, via their agents/depositary bank BNYM.

any thoughts?



good luck