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Old November 16th, 2017, 10:17 AM
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Educhamp
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Join Date: May 2011
Default Re: Tata Communications Limited NYSE

Tata Communications Limited (the "Organization") (NYSE: TCL) reports its goal to delist its American Depositary Shares ("ADSs"), as prove by American Depositary Receipts ("ADRs"), from the New York Stock Exchange ("NYSE") and to end its ADR program.

Tata Communications will focus all exchanging of its standard offers on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India Limited in India and will be ending its current ADR program. The Company's Board of Directors has considered the current low exchanging volume of its ADSs on the NYSE, the forthcoming date for consistence with the Securities and Exchange Board of India ("SEBI") order on least open shareholding and the related expenses of keeping up the posting and related commitments.

The Company plans to document a Form 25 with the SEC to impact the delisting from the NYSE approximately May 28th, 2013. The delisting will wind up noticeably compelling 10 days after such recording. Goodbye Communications will keep on being liable to revealing commitments under the U.S. Securities Exchange Act of 1934 (the "Trade Act") until the point when such time as it can end its enrollment under the Exchange Act.

The Company additionally reports that, subject to the delisting getting to be plainly viable, it will revise the store understanding as per which the ADRs were issued (the "Store Agreement") and end the Deposit Agreement and its ADR program. The change will require the Depositary to offer the standard offers of the Company hidden any ADRs that stay remarkable when practicable after the date that is 30 days after end of the ADR program ends up plainly compelling, approximately August fourteenth, 2013.

Holders of the Company's ADRs will have until in any event August thirteenth, 2013 to choose whether to hold their enthusiasm for the common offers of the Company. Whenever before August thirteenth, 2013, ADR holders may surrender their ADRs in return for the basic standard offers of the Company. When practicable on or after August fourteenth, 2013, the Depositary will offer the customary offers basic any ADRs that have not up to that time been surrendered. The Depositary might from there on hold un-contributed the net continues of any such deal, for the professional rata advantage of the holders of any such extraordinary ADRs.
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