Unsponsored American Depositary Receipt (ADR)
An ADR program enables US investors to invest in a non-US company through a US dollar-denominated instrument that trades and settles like US stock. As of October 10, 2008, the US Securities and Exchange Commission allows depositary banks to establish ADR programs without the participation or permission of a non-US issuer (a so-called “unsponsored ADR”) based on a reasonable, good faith belief that the non-US issuer publishes certain information in English.
WACKER does not authorize or encourage the creation of unsponsored ADR facilities in respect of its securities and disclaims any liability in connection with any unsponsored ADR program. WACKER's website does not include all information in English required to maintain an exemption under Rule 12g3-2(b) of the US Exchange Act of 1934, as amended. No depositary institution or bank should rely on a belief that Wacker publishes all information required to maintain such an exemption.