HMS GDRs

As of December 31, 2016, HMS Hydraulic Machines & Systems Group Plc had an issued share capital of Euro 1,171,634.27 divided into 117,163,427 ordinary shares with par value of Euro 0.01 per share, and these shares are not traded.

In February 2011, the company signed a depositary agreement with The Bank of New York Mellon (BNY Mellon), under which the issue of Global Depositary receipts (GDRs) for HMS Group shares was initiated.

As of December 31, 2016, the total number of GDRs issued in exchange for shares of HMS Group amounted to 9,600,800 GDRs or approximately 41% of the Company’s issued share capital.

Since February 8, 2016, the ratio of the company’s GDRs program was changed:

  • Old ratio: 1 GDR equals 1 Ordinary share
  • New ratio: 1 GDR equals 5 Ordinary shares

For every 5 GDRs held by holders, they received 1 “new” GDR in return. The issued number of ordinary shares and their nominal value remained unchanged. And currently, there are 9,600,800 depositary receipts outstanding in the GDR program.

According to the terms of the amended deposit agreement with BNY Mellon, the annual depositary fee will equal US$ 0.01 per “new” GDR instead of the current US$ 0.03 per “old” GDR, implying a fifteen-fold decrease in such fees.

HMS Group Plc GDR Details

Ticker HMSG
CUSIP (RegS) 40425X407
CUSIP (144A) 40425X308
Exchange London Stock Exchange
ISIN (RegS) US40425X2099
ISIN (144A) US40425X1000
Ratio, GDR: common shares 1:1
Effective Date Feb 11, 2011
Underlying ISIN CY0104230913
Despositary bank BNY Mellon

Price of HMS Group’s GDRs (rebased to 1:5 ratio)

  Min Max At the end of the period
2011 19.90 41.21 22.05
2012 19.50 29.90 21.10
2013 10.50 21.15 12.50
2014 1.30 12.50 1.30
2015 1.30 4.50 2.76
2016      
1Q 2016 2.05 2.85 2.85
2Q 2016 2.85 5.00 4.05
3Q 2016 4.05 5.60 5.49
4Q 2016 5.60 8.01 7.46

 

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