Citi Appointed Depositary for Home Retail Group’s ADR Program
London - October 5, 2009 – Citi’s Global Transaction Services business, acting through Citibank N.A., announced that it has been appointed by Home Retail Group plc ("Home Retail Group"), the UK’s leading home and general merchandise retailer, as the depositary bank for its American Depositary Receipt (ADR) program. In making this appointment, Home Retail Group has designated Citi as the sponsor of what had previously been an unsponsored ADR program.
Home Retail Group’s ADRs now trade in the OTCQX marketplace, the premier tier of the U.S. over-the-counter (OTC) market, under the symbol HMRTY. The company’s ordinary shares are listed on the London Stock Exchange (LSE) under the code ‘HOME.L’. Each ADR is represented by four (4) ordinary shares.
Home Retail Group is the UK’s leading home and general merchandise retailer. With sales of £5.9 billion in the last financial year, it sells products under two distinctive retail formats - Argos and Homebase - that are household names in the UK.
Richard Ashton, Finance Director of Home Retail Group commented, "We are pleased with the appointment of Citi as our new ADR depositary and are looking forward to developing a strong working relationship with them, which we are sure will benefit both Home Retail Group and its ADR holders."
Ayden Dagg, Head of Depositary Receipt Services for Europe, the Middle East and Africa, Citi said, "We are delighted to have been awarded this mandate by Home Retail Group. The substantial breadth and depth of Citi’s expertise and resources will allow our Depositary Receipt Services business to provide Home Retail Group with unmatched support in all aspects of their ADR programme."
For more information on Citi’s Depositary Receipt Services, visit www.citi.com/dr.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through its two operating units, 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, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.
About Citi Global Transaction Services
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, Citi’s Global Transaction Services supports over 65,000 clients. As of the second quarter of 2009, it held on average $288 billion in liability balances and $11.1 trillion in assets under custody.