Citi Appointed Successor Depositary for Shire plc’s Sponsored Level 2 ADR Program
London - May 24, 2011 – Citi today announced that its Global Transaction Services business, acting through Citibank N.A., has been appointed by Shire plc, a leading specialty biopharmaceutical company, as the successor depositary bank for its sponsored Level II American Depositary Receipt (ADR) program. Shire’s ADRs trade on the NASDAQ stock market under the symbol ‘SHPGY’, with each ADR representing 3 ordinary shares. Shire’s ordinary shares are listed on the London Stock Exchange.
Tom Greene, Group Treasurer at Shire, commented: "We are pleased to appoint Citibank as our new ADR depositary and look forward to working closely with them to add continued value both to our existing and potential shareholders in the U.S."
Dirk Jones, Global Head of Securities and Fund Services Client Sales Management at Citi, said: "We are delighted to be appointed depositary bank for Shire’s sponsored ADR program. By leveraging our global equity distribution network and our unique investor relations expertise, we’ll strive to provide outstanding investor access to Shire’s ADR program and bolster its visibility."
Through its Securities and Fund Services business, Citi’s industry-focused experts provide investors worldwide with tailored solutions delivered through proven global platforms that feature modular, open architecture. With over $13 trillion of assets under custody and the industry’s largest proprietary network, clients can leverage Citi's local market expertise and global reach to extract value across the entire investment value chain.
Global Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citigroup’s Global Transaction Services supports over 65,000 clients. As of the first quarter of 2011, it held on average $355 billion in liability balances and over $13 trillion in assets under custody.
About Shire plc
Shire’s strategic goal is to become the leading specialty biopharmaceutical company that focuses on meeting the needs of the specialist physician. Shire focuses its business on attention deficit hyperactivity disorder (ADHD), human genetic therapies (HGT) and gastrointestinal (GI) diseases as well as opportunities in other therapeutic areas to the extent they arise through acquisitions. Shire’s in-licensing, merger and acquisition efforts are focused on products in specialist markets with strong intellectual property protection and global rights. Shire believes that a carefully selected and balanced portfolio of products with strategically aligned and relatively small-scale sales forces will deliver strong results.
For further information on Shire, please visit the Company’s website: www.shire.com.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
Additional information may be found at www.citigroup.com or www.citi.com.