ICA Announces Delisting from the New York Stock Exchange and Termination of its ADR Program
June 27 2016 - 10:34PM
MEXICO CITY, June 27, 2016 (GLOBE
NEWSWIRE) -- Empresas ICA, S.A.B. de
C.V. (BMV:ICA) (NYSE:ICA) announced today that it
intends to voluntarily delist its American Depositary Shares
("ADSs"), evidenced by American Depositary Receipts ("ADRs"), from
the New York Stock Exchange ("NYSE"). This action does not
affect ICA's listing on the Mexican Stock Exchange, where
approximately 80% of its worldwide trading volume currently takes
place.
On January 7, 2016, ICA received
notice from the NYSE that its ADS's had traded for 30 consecutive
days below US$1.00 per share, and therefore did not meet the
requirements for continued listing on the NYSE, subject to a
six-month cure period. Today, ICA will provide written notice
to the NYSE of its intent to delist. ICA plans to file the
related Form 25 with the Securities and Exchange Commission ("SEC")
shortly thereafter and expects the delisting to become effective
ten days later. Accordingly, the Company anticipates that the
last day of trading of its ADSs on the NYSE will be on or about
July 17, 2016.
ICA reserves the right, for any
reason, to delay these filings or to withdraw them prior to their
effectiveness, and to otherwise change its plans in this
regard.
This press
release contains projections or other forward-looking statements
related to ICA that reflect ICA's current expectations or beliefs
concerning future events. Forward-looking statements involve
inherent risks and uncertainties. We caution you that a number of
important factors could cause actual results to differ materially
from the plans, objectives, expectations, estimates and intentions
expressed in such forward-looking statements. These factors include
cancellations of significant construction projects included in
backlog, material changes in the performance or terms of our
concessions, additional costs incurred in projects under
construction, failure to comply with covenants contained in our
debt agreements, developments in legal proceedings, unanticipated
increases in financing and other costs or the inability to obtain
additional debt or equity financing on attractive terms, changes to
our liquidity, economic and political conditions and government
policies in Mexico or elsewhere, changes in capital markets in
general that may affect policies or attitudes towards lending to
Mexico or Mexican companies, changes in inflation rates, exchange
rates, regulatory developments, customer demand, competition and
tax and other laws affecting ICA's businesses and other factors set
forth in ICA's most recent filing on Form 20-F and in any filing or
submission ICA has made with the SEC subsequent to its most recent
filing on Form 20-F. All forward-looking statements are based on
information available to ICA on the date hereof, and ICA assumes no
obligation to update such statements.
Empresas
ICA, S.A.B. de C.V., carries out large-scale civil and industrial
construction projects and operates a portfolio of long-term assets,
including airports, toll roads, water systems, and real estate.
Founded in 1947, ICA is listed on the Mexican and New York Stock
exchanges. For more
information, visit http://ir.ica.mx/.
For more information, contact:
Christianne Ibánez
christianne.ibanez@ica.mx
relacion.inversionistas@ica.mx
+(5255) 5272 9991 x 3607
Pablo García
pablo.garcia@ica.mx
Chief Financial Officer
In the US:
Daniel Wilson, Zemi Communications
+(1212) 689 9560
dbmwilson@zemi.com
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Empresas ICA, S.A.B. de C.V. via
Globenewswire
HUG#2023381