ADR Ratio Change

RNS Number : 9711P

Wolseley PLC

02 April 2009

 

 NEWS RELEASE

Wolseley plc
ADR Ratio Change

Wolseley plc (the 'Company'), the world's largest specialist trade distributor of plumbing and heating products to professional contractors and a leading supplier of building materials announces a change in the ratio of its American Depositary Receipts ('ADRs') currently traded on the OTCQX .

Wolseley plc first listed its ADRs on the New York Stock Exchange ('NYSE') on 31 May 2001. The Company delisted from the NYSE in January 2008.  As announced separately on 1 April 2009, the Board of Wolseley plc has passed a resolution to, among other things, effect a capital reorganisation, in which each existing ordinary share is subdivided and converted into one interim share of 1p nominal value and one deferred share of 24p nominal value, and immediately after, the interim shares are consolidated on a one-for-ten basis into new ordinary shares of 10p nominal value.  

In light of the capital reorganisation having now taken effect, and in order to keep the number of American Depositary Shares ('ADSs') outstanding constant, the ratio of ordinary shares to ADSs has been changed from one ADS representing one ordinary share, to one ADS representing one-tenth of an ordinary share, effective today.  The deferred shares are not expected to be distributed to shareholders or ADR holders, and are expected to have little or no economic value.  From the perspective of the ADR holder, the ratio change will have no impact on the holder's economic interest in Wolseley plc, or on the number of ADRs held or outstanding. 

Wolseley plc released its Half Year Results for the six months to 31 January 2009 on 6 March 2009, which can be found on the Company website at www.wolseley.com. The Company plans to release an interim management statement for the 9 months to 30 April 2009 on 28 May 2009 and announce its Full Year Results to 31 July 2009, on 28 September 2009.

Certain statements included in this announcement may be forward-looking and may involve risks, assumptions and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements. Forward-looking statements include, without limitation, projections relating to results of operations and financial conditions and the Company's plans and objectives for future operations including, without limitation, discussions of the Company's business and financial plans, expected future revenues and the strength of the plumbing and heating and building materials market in North America and Europe, fluctuations in product prices and changes in exchange and interest rates. All forward-looking statements in this respect are based upon information known to the Company on the date of this announcement. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. It is not reasonably possible to itemise all of the many factors and events that could cause the Company's forward-looking statements to be incorrect or that could otherwise have a material adverse effect on the future operations or results of the Company.

ENQUIRIES:

Analysts/Investors:

Wolseley plc
Derek Harding                                                                  [phone]
Director of Group Strategy and Investor Relations                [phone]

Media:
Mark Fearon                                                                    [phone]
Director of Corporate Communications

Brunswick                                                                        [phone]
Andrew Fenwick
Kate Miller

Notes to Editors:

Wolseley plc is the world's largest specialist trade distributor of plumbing and heating products to professional contractors and a leading supplier of building materials to the professional markets. Group revenue for the year ended 31 July 2008 was approximately £16.5 billion and trading profit was £683 million. At 31 January 2009, Wolseley had around 63,000 employees operating in 27 countries namely: UK, USA, France, Canada, Ireland, Italy, The Netherlands, Switzerland, Austria, Czech Republic, Hungary, Belgium, Luxembourg, Denmark, Sweden, Finland, Norway, Slovak Republic, Poland, Romania, San Marino, Panama, Puerto Rico, Trinidad & Tobago, Mexico, Barbados and Greenland. Wolseley plc is listed on the London Stock Exchange (LSE: WOS). 

 

END

 

 

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