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FAQ's-ADR Program

FAQ's-ADR Program

Where are Austal Limited’s ADRs traded and under what ticker?

Austal Limited has a Level 1 American Depository Receipt (ADR) facility trading in the Over-The-Counter (OTC) market in the U.S. and is managed by BNY Mellon. The ADR Ticker (Symbol) is AUTLY.

What is an American Depository Receipt?

An ADR is a negotiable U.S. certificate representing ownership of shares in a non-U.S. corporation. ADRs are quoted and traded in U.S. dollars in the U.S. securities market. Also, the dividends are paid to investor in U.S. dollars. ADRs were specifically designed to facilitate the purchase, holding and sale of non-U.S. securities by U.S. investor, and to provide a corporate finance vehicle for non-U.S. companies. ADRs can be held in book-entry form or as a physical certificate.

What is a Level 1 ADR?

Level 1 Depository Receipts are traded in the U.S. OTC market with prices published in the “Pink Sheets” and on some exchanges outside the United States. Establishment of a Sponsored Level 1 program does not require full SEC registration and the company does not have to report its accounts under U.S. GAAP or provide full SEC disclosure. Essentially, a Sponsored Level 1 Depository Receipt program allows companies to enjoy the benefits of a publicly traded security without changing its current reporting process.

What are the benefits of ADRs to U.S. investors?

U.S. investors generally prefer to purchase ADRs rather than ordinary shares in the issuer’s home market because ADRs trade, clear and settle according to U.S. market conventions. One of ADRs’ main advantages is the facilitation of diversification into foreign securities. ADRs also allow easy comparison to securities of similar companies as well as access to price and trading information. ADR holders also appreciate U.S. dollar dividend payments and receiving corporate action notifications.

Who is the depository bank for Austal Limited’s ADRs?

BNY Mellon is the depository bank and plays a key role in the process of issuance and cancellation of ADRs. BNY Mellon also maintains the ADR holder register and distributes the dividends in U.S. dollars. In addition, BNY Mellon is a DTC (Depository Trust Company) participant as are brokers and dealers, other banks, trust companies and clearinghouses. For additional general information, please visit BNY Mellon’s website at www.adrbnymellon.com and search for Austal Limited’s ADR profile.
U.S Shareowner Services
BNY Mellon Shareowner Services
P.O. Box 358516
Pittsburgh, PA 15252-8516

What is the difference between an ADR and an ADS?

An ADR (American Depository Receipt) is a negotiable certificate issued by a depository bank representing a specific number of shares of a non-U.S. company traded on a U.S. stock exchange. An ADS is the share issued under the ADR agreement which is actually traded.

Can I buy Austal Limited ADRs through a broker just as you would buy U.S. securities?


How do I convert my ordinary shares into ADRs?

Converting ordinary shares into ADRs must be done through a broker or an investment advisor. Alternatively contact BNY Mellon for further assistance with this.

Can I purchase ADRs directly from Austal?


What is the difference between a registered holder and a beneficial ADR holder?

A registered holder is one whose name appears on the books of the depository. The registered holder is considered the owner of the record. A beneficial holder is one whose holdings are registered in a name other than his or her own, such as the name of a broker, bank or nominee.

I did not receive a certificate with the purchase of my ADRs. How can I obtain a traditional certificate?

For registered owners ownership is registered by the depository bank and is evidenced by an account statement, provided by the depository. Registered owners hold physical ADR certificates issued by the Depository Bank and receive dividends, and proxy materials directly from BNY Mellon.

How can I find out how many ADR shares I have?

For those holders who are not registered because their shares are held through a “Street name” (nominee account), please contact your nominee for information on your ADR holdings.

Do I always get an ADR certificate?

Your Austal Limited ADR represents your ownership of shares in the company and can be held in certificate or book-entry form. If you hold your ADRs in certificate form these should be kept in a safe-deposit box or secure place. Certificates are negotiable documents and should be signed only in the event of a sale or transfer of ownership. If you hold your ADRs through a “Street Name” (nominee account) these will be in book-entry form and therefore you will not have an ADR certificate.

How often will I receive account statements?

You will receive account statements following each investment activity. You will also receive a statement at the end of the year showing all year-to-date transaction activity. You should retain these statements for tax purposes.

How do I change my address?

It is important that you contact BNY Mellon Shareowner Services when you move so that your account records can be updated and your dividend cheque is sent to the right address.

In what currency to Canadian residents receive dividends?

Resident Canadian ADR shareholders will receive their dividends in U.S. dollars.

How are dividends paid and taxed?

Dividends are paid in U.S. dollars and are generally taxable, just like dividends on U.S. shares.

How can I replace a lost dividend cheque?

You can request the replacement of a lost dividend cheque by calling BNY Mellon. Upon authorisation from you, a stop payment order will be placed against the original cheque and a replacement cheque will be issued to you. Please have your Social Security Number ready when calling.

How can I find out Austal Limited ADR dividend information?

For the most current Austal Limited ADR dividend information you can call BNY Mellon. Please have your account number, exact address, and exact name(s) on the account ready when you call. You can also refer to BNY Mellon’s website and double click on the “Dividends and Distributions” section.

What financial information is available to U.S. investors?

Austal Limited provides the same financial information to all investors and conforms to all laws in the U.S. on disclosure pertinent to Level 1 ADRs.