Deutsche Bank has been appointed as successor depositary bank for the Level I American Depositary Receipt program of U.K.-based Strategic Minerals plc.
Strategic Minerals develops and supplies iron ore, magnetite in particular, to the worlds industrial markets. The company seeks a balance between near-term marketable magnetite production assets and the significant capital gains growth associated with the exploration and development of prospective deposits.
We are delighted to welcome Strategic Minerals as our client in the establishment of its Level I ADR program, says Akbar Poonawala, head of Global Equity Services at Deutsche Bank. We look forward to working with the company in the administration of their ADR program.
(CG)