Rexam, the global consumer packaging company, confirms that its American Depositary Receipts (ADRs) will commence trading as a Level 1 ADR Over-the-Counter Program as of today under the symbol REXMY.
Further to the announcement made on 24 October 2007, Rexam's ADR quotation on the Nasdaq Stock Market was withdrawn at close of business on 20 November 2007 pending expiration of its "grandfathered" status which currently exempts the Company from registration requirements under the US Securities Exchange Act of 1934 and the Sarbanes-Oxley Act.
Investors in Rexam's current ADRs will see no change to the Company's commitment to the US capital markets and will continue to be able to deal in the Company's ADRs through standard broker channels.