As of December 31, 2015, 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, 2015, the total number of GDRs issued in exchange for shares of HMS Group amounted to 48,004,000 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:
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. After the reverse split, issued number of GDRs equals 9,600,800, where outstanding are 8,728,000 depositary receipts and 872,800 - “green-shoe” ones.
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.XLS
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