Correction: ICA Announces Delisting from the New York Stock Exchange
June 28 2016 - 7:24AM
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