CITI APPOINTED NEW DEPOSITARY FOR BRITISH AMERICAN TOBACCO‚S ADR PROGRAM
NEW YORK, LONDON - Dec. 8 – Citi today announced that its Global Transaction Services business has been appointed by British American Tobacco p.l.c. ("BAT"), the world’s second largest quoted tobacco group by global market share, as the successor depositary bank for its American Depositary Receipt (ADR) program.
British American Tobacco’s ADRs currently trade on NYSE Alternext, the rebranded identity of the former American Stock Exchange (Amex) equities business, under the symbol BTI (CUSIP: 110448107). The Amex was officially acquired by NYSE Euronext on October 1, 2008. BAT’s ordinary shares trade on the London Stock Exchange under the symbol BATS. Each ADR represents two ordinary shares.
Ralph Edmondson, Head of Investor Relations at British American Tobacco said, "We are very pleased with the appointment of Citi as new ADR depositary and are looking forward to developing a strong working relationship with Citi, which I am sure will benefit both British American Tobacco and its ADR holders."
Nancy Lissemore, Global Head of Depositary Receipt Services at Citi said, "We are delighted to be serving as the new depositary bank for British American Tobacco. We look forward to leveraging Citi’s value-added resources, including our product and market expertise, wealth of experience in investor relations support, and unmatched global distribution network to assist BAT in maximizing the benefits of their ADR program."
Citi’s Depositary Receipt Services is part of Citi’s Global Transaction Services business, which 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 spanning over 140 countries, Citi’s Global Transaction Services supports over 65,000 clients. As of the 3rd quarter of '08, it held on average $273 billion in liability balances and $11.9 trillion in assets under custody.
For more information on Citi’s Depositary Receipt Services, visit www.citi.com/dr
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing 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, and wealth management. Citi’s major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Nikko. Additional information may be found at www.citigroup.com or www.citi.com.