Last checked at 16 Oct 2008 11:22
Next plc - American Depositary Receipts (ADR)
The Company has been advised that recent amendments to the United States Securities and Exchange Commission Rules now allow third party depository banks to establish unsponsored ADR programmes to accept deposits of the ordinary shares of a non-US company (such as Next plc) without either that company's prior consent or without giving notice of such programmes.
Following the introduction of these new rules, the Company was informed that the Bank of New York Mellon established an unsponsored ADR programme in respect of Next plc ordinary shares on Friday, 10 October 2008.
The Board of Directors wishes to confirm that Next has not consented to the establishment of the latter ADR programme, nor is the Company a party to this programme in any capacity. Furthermore, the Board confirms there is no present intention to give consent to any future unsponsored ADR programmes, or participate in any sponsored ADR programmes, for the foreseeable future.
AJR McKinlay
Company Secretary
Next plc