Telstra Reconfirms Intention to Withdraw New York Stock Exchange Listing
March 28 2007 - 11:40PM
PR Newswire (US)
MELBOURNE, Australia, March 28 /PRNewswire-FirstCall/ -- In
accordance with the requirements of the New York Stock Exchange,
Telstra Corporation Limited (NYSE:TLS) confirms its previous advice
to the market that it intends to withdraw the listing of its
American Depositary Shares, evidenced by American Depositary
Receipts (ADR), and the underlying ordinary shares from the New
York Stock Exchange. In conjunction with the delisting, Telstra
will be moving to an over-the-counter ADR program. The securities
will not be listed on any other exchange in the United States, but
Telstra's ordinary shares will continue to be listed on the
Australian Stock Exchange. On 21 March 2007, the U.S. Securities
and Exchange Commission approved final rules that will make it
easier for foreign companies such as Telstra to terminate their SEC
registration. When the SEC's deregistration rules become effective,
Telstra intends to fully deregister from the SEC's ongoing
reporting obligations in order to reduce administrative burdens and
costs. Media contact: Rod Bruem +61 2 9206 0092 DATASOURCE: Telstra
Corporation Limited CONTACT: Rod Bruem of Telstra Corporation
Limited, +61-2-9206-0092
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