OTE filing for delisting from the NYSE
Athens, Greece - August 30, 2010 - On May 12, 2010 Hellenic Telecommunications Organization SA (ASE: HTO; NYSE: OTE) announced its intention to delist its American Depositary Shares ("ADSs") from the New York Stock Exchange ("NYSE") and to terminate its registration and reporting obligations under the U.S. Securities Exchange Act of 1934.
Today OTE provided written notice to the NYSE of its intention to apply for the delisting of its ADSs from the NYSE. OTE expects to file Form 25 on or about September 9, and delisting to become effective on or about September 20. Following delisting from the NYSE and upon meeting the criteria for termination of registration, and in compliance with applicable rules and regulations, OTE intends to file a certification on Form 15F with the U.S. Securities and Exchange Commission ("SEC") to terminate the registration of its equity securities.
OTE also intends to establish and maintain an American Depositary Receipt program on a so-called "Level I" basis in order to enable investors to trade ADSs in the US over-the-counter (OTC) market.
OTE will update investors on developments with regard to the process of delisting and deregistration of its ADSs.
Each ADS represents one half ordinary share of OTE.
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