ALTANA files deregistration application with the Securities and Exchange Commission (SEC) in the U.S.
Today, ALTANA AG (FSE: ALT) filed an application with the Securities and Exchange Commission (SEC) to deregister and terminate its reporting obligations under the Securities Exchange Act of 1934 (the “Exchange Act”). Effective upon the filing of this application, the reporting obligations to which ALTANA had been subject under the U.S. securities laws due to the registration of its shares with the SEC were suspended. The deregistration application is expected to take effect within 90 days after the filing date. At that point, ALTANA’s reporting obligations will terminate permanently.
However, ALTANA will continue to publish annual reports and certain other documents and communications in English in accordance with Exchange Act Rule 12g3-2 on its website www.altana.com.
Effective as of May 21, 2007, ALTANA had already delisted its shares from the New York Stock Exchange (NYSE). ALTANA’s American Depository Shares (ADRs) continue to be traded in the United States on the Over-the-Counter Market (OTC market).
ALTANA’s decision to delist and deregister reflects the fact that it now operates as a pure specialty chemicals company. ALTANA’s decision to list its shares on the New York Stock Exchange in 2002 was due, in particular, to the U.S. activities of ALTANA Pharma, which was sold to Nycomed at the end of 2006.
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