American Depositary Receipts
Metso shares are traded as American Depositary Shares (ADS) / American Depository Receipts (ADR) on the highest OTC (over-the-counter) marketplace, OTCQX®, under the ticker symbol MXCYY, in the United States.
OTCQX is the intelligent marketplace for the best OTC companies with the highest financial standards and superior information availability. Current financial disclosure and trading information will be readily available on
www.otcmarkets.com.
The Bank of New York Mellon (BNYM) operates as a depositary bank for Metso's ADRs. The depositary bank plays a key role in the process of issuance and cancellation of ADRs. It also maintains the ADR holder register and distributes the dividends in U.S. dollars. The Bank of New York Mellon is a DTC (Depositary Trust Company) participant as are brokers and dealers, other banks, trust companies and clearinghouses.
For additional general information, please visit The Bank of New York Mellon's website at
www.adrbnymellon.com and look for
Metso profile page. Registered holders wishing to access their account with The Bank of New York Mellon (BNYM acts as both ADR depositary bank and registrar):
Broker Desk Contacts
United Kingdom
Damon Rowan -- Tel. +44 (0) 20 7964 6527; damon.rowan@bnymellon.com.
Jaymi Pace -- Tel: +44 (0) 20 7964 6419 ; jaymi.pace@bnymellon.com;
Fax: +44 (0) 20 7964 6024
USA
Wendy Katz -- Tel : +1 212 815 2245; wendy.katz@bnymellon.com
Ravi Davis -- Tel : +1 212 815 4245; ravi.davis@bnymellon.com
For more information about ADRs visit www.adrbnymellon.com
Frequently asked questions
What is an American Depositary Receipt (level 1 ADR)?
An American Depositary Receipt (ADR) is a negotiable U.S. certificate representing ownership of shares in a non-U.S. corporation. ADRs are quoted and traded in U.S. dollars on the U.S. over-the-counter securities market. Also, the dividends are paid to investors in U.S. dollars.
What is the difference between an ADR and an ADS?
An ADR (American Depositary Receipt) is a negotiable certificate issued by a depositary bank representing a specific number of shares of a non-U.S. company. An ADS (American Depositary Share) is the share issued under the ADR agreement which is actually traded.
What types of companies issue ADRs?
ADRs issuers can be small, mid or large capitalization corporations. Any non-U.S. company seeking to engage the US market to diversify its investor base, raise capital in the U.S. or offer US-type employee plans.
Is it easy to get information and updates on an ADR company?
ADR issuers generally have full information in English about themselves on their websites, as well as on the main depositary bank websites, and are better tracked by the main U.S. financial websites. The Metso ADR is not listed on a US exchange, but trades in the over-the-counter market.
What are the benefits of ADRs for U.S. investors?
U.S. investors generally prefer to purchase ADRs rather than ordinary shares in the issuer’s home market because ADRs trade, clear and settle according to U.S. market conventions. One of ADRs´ main advantages is the facilitation of diversification into foregn securities. ADRs also allow easy comparison to securities of similar companies as are quoted in U.S. dollars. ADR holders also appreciate dollar dividend payments and receiving corporate action notifications. Investors can also diversify their portfolio without having to purchase and hold securities outside of their local market.
What is the difference between a registered ADR holder and a beneficial ADR holder?
A registered holder is one whose name appears on the books of the depositary, as registrar; the registered holder is considered the owner of record. Registered owners hold physical ADR certificates issued by the Depositary Bank and receive dividends, and proxy materials directly from The Bank of New York Mellon.
A beneficial holder is one whose holdings are held in a name other than their own, such as in the name of a broker, bank or nominee. Beneficial owners of Metso ADRs that are registered in the "nominee name" or "street name" of a bank, broker or other institution that holds such securities for the accounts of others are considered beneficial owners. ADRs held in this form are book-entry securities, where the beneficial owner’s interest is recorded in an account held by the institution rather than by registration with the ADR depositary. Major benefits of book-entry ownership are the elimination of problems associated with paper certificates such as storage, safety of securities or cost and inconvenience of replacement. Book-entry ADRs eliminate the requirement for physical movement of certificates at the time of sale or transfer of ownership. Investors purchasing ADRs through a broker who wish to become registered owners must specifically direct the broker to register the shares with the ADR depositary. If you choose to have a certificate issued, please contact The Bank of New York Mellon.
How can I find out how many ADRs I have?
ADR holders, whose shares are held under a "street name" (nominee account), should contact their nominee bank for information on the ADR holdings.
Will holders of ADRs be able to vote at Metso's Annual General Meeting?
Metso is required by law to hold an Annual General Meeting (AGM) of its shareholders each year. All shareholders are entitled to attend, speak and vote at the AGM. Shareholders who wish to attend the AGM must register their participation in advance. Holders of ADRs may authorize the Bank of New York to act as a proxy in exercising voting rights according to the number of ordinary shares represented by their respective ADRs.
How are ADR dividends paid and taxed?
Dividends are paid in U.S. dollars and are generally taxable, just like dividends on U.S. shares. In addition, taxes may be withheld by the ADR company's local government. Resident Canadian ADR shareholders will receive their dividends in U.S. dollars. Depending on individual circumstances and bilateral tax treaties in place, foreign taxes withheld might be applied as a credit against U.S. taxes, or tax reclaim opportunities may be offered. Please check with your financial / tax advisor.
All or a portion of your cash dividend can be wired directly to your bank account. In order to take advantage of this option your bank or financial institution must be part of Automatic Clearing House (ACH). For more information on this option, please call The Bank of New York Mellon.
How can I find out dividend and corporate action information on Metso?
For dividend and corporate action information, please visit
www.adrbnymellon.com.
Go to the DR Corporate Actions or DR Dividends & Distribution buttons on the vertical scroll bar on the left and then enter company name, CUSIP or symbol.
How can I buy ADRs via a US Broker?
You can buy an ADR through a broker, just as you would U.S. securities.
How can I convert ordinary shares in Metso into Metso ADRs?
A) You will need to contact your local broker, advising the amount of local shares you wish to convert and where you want the resultant ADRs to be delivered too.
B) Upon safe receipt of these local Finnish shares at local custodian Nordea, The Bank of New York will create the relevant ADRs and deliver then to the designated account provided in (A).
C) A fee per ADR issued is payable to The Bank of New York upon the delivery of the ADRs. Most commonly, when The Bank of New York Mellon delivers the ADRs to the specified DTC account, this is done on a delivery versus payment (DVP) instruction against the conversion fee. If an alternative method of payment is required, please contact the Broker Desk for further details. Where the DTC account is operated by a broker on behalf of a shareholder, the broker should confirm to the shareholder that it has received the ADRs and is holding them on his/her behalf.
Broker Desk Contacts
United Kingdom
Damon Rowan – Tel. +44 (0) 20 7964 6527; damon.rowan@bnymellon.com.
Mark Lewis - Tel: +44 (0) 20 7964 6089 ; mark.lewis@bnymellon.com; Fax: +44 (0) 20 7964 6024
USA
Michael Ludwig Tel : +1 212 815 2275; Michael.Ludwig@bnymellon.com
Jason Smith Tel : +1 212 815 3874; Jason.smith@bnymellon.com
For more information about ADRs visit
www.adrbnymellon.com
I am an ADR holder. How do I change my address?
Please contact the Bank of New York Mellon so that your account records can be updated.
