Unkown Quantity..., page-12

So,

How ADRs Work. Iv'e changed Russia to Australia in the example given. For everyone.

Example
Say a biotech company in Australia has fulfilled the requirements for DR listing and now wants to list its publicly traded shares on the NYSE in the form of an ADR. Before the biotech company\'s shares are traded freely on the exchange, a U.S.broker, through an international office or a local brokerage house in Australia, would purchase the domestic shares from the Australian market and then have them delivered to the local (Australian) custodian bank of the depository bank. The depository bank is the American institution that issues the ADRs in America. In this example, the depository bank is the Bank of New York. Once the Bank of New York\'s local custodian bank in Australia receives the shares, this custodian bank verifies the delivery of the shares by informing the Bank of New York that the shares can now be issued in the United States. The Bank of New York then delivers the ADRs to the broker who initially purchased them.

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Basically, This could be how we have had our share price weighted down. Selling down to themselves/others/nominees to transfer to the American Market. You would think it would go up though, more conspiracies?? Maybe it did at first 2014. This just means there are less on our market so when we move it will go ballistic you'd think. So many people just holding never to sell.

How many of our shares from the Australian market have gone over to the U.S. already.

Ahh"" from inapinchapenny's post. 26 plus million of our Aussie shares have already been transferred.

From prospesctus

Based on information known to us, as of March 31, 2015, we had 115,881,763 ordinary shares outstanding, with 26,160,411 of our ordinary shares being held in the United States by 102 holders and 89,721,352 of our ordinary shares being held in Australia by 3,978 holders. A large number of our ordinary shares are held in nominee companies so we cannot be certain of the identity of those beneficial owners.


Average "ordinary" shares per shareholder:

ASX - 22,554 average shares per shareholder

US OTC - 265,474 average shares per shareholder

I own more than the average ASX shareholder.

Don't underestimate a running of the bulls!

So as you can see Most of our companies share will be held in america after the IPO by the looks.

Will bteby ADRs keep trading.

Yes it will by the looks of what iv'e read. As you say unless they cancel/Terminate them. Though could be useful for the big companies for arbitrage of three different markets.

Will the shares taken from the Australian Local Market that have been turned into American Depository Reciepts ADRs be Automatically transferred to The new IPO American Depository Shares ADSs. I don't think so..

I see your point. PGA2003. It will only be if the company see's it worthwhile paying the bills to be on all three levels of markets.

Once notified, an owner can surrender their ADRs and take delivery of the foreign securities represented by the Receipt

Level 1 OTC ADRs.
Level 3 Nasdaq IPO.
ASX Australian Market.



ADR termination[edit]

Most ADR programs are subject to possible termination. Termination of the ADR agreement will result in cancellation of all the depositary receipts, and a subsequent delisting from all exchanges where they trade. The termination can be at the discretion of the foreign issuer or the depositary bank, but is typically at the request of the issuer. There may be a number of reasons why ADRs terminate, but in most cases the foreign issuer is undergoing some type of reorganization or merger.
Owners of ADRs are typically notified in writing at least thirty days prior to a termination. Once notified, an owner can surrender their ADRs and take delivery of the foreign securities represented by the Receipt, or do nothing. If an ADR holder elects to take possession of the underlying foreign shares, there is no guarantee the shares will trade on any U.S. exchange. The holder of the foreign shares would have to find a broker who has trading authority in the foreign market where those shares trade. If the owner continues to hold the ADR past the effective date of termination, the depositary bank will continue to hold the foreign deposited securities and collect dividends, but will cease distributions to ADR owners.
Usually up to one year after the effective date of the termination, the depositary bank will liquidate and allocate the proceeds to those respective clients. Many US brokerages can continue to hold foreign stock, but may lack the ability to trade it overseas.

https://en.wikipedia.org/wiki/American_depositary_receipt


Anyway got a headache from reading. lol. bedtime.

Any way i'm just saying hold on for the the ride once this IPO blows over. Something is cooking.