ATLANTA, July 27 Craneware, Inc. (AIM: CRW.L, CRWRY), the market leader in automated revenue integrity solutions that improve healthcare providers' financial performance, is pleased to announce the launch of its American Depositary Receipt (ADR) program.
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Each Craneware ADR represents two ordinary shares and trades on the Over-the-Counter (OTC) market. Craneware's ordinary shares trade on the London Stock Exchange.
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An ADR is a negotiable U.S. certificate representing ownership of shares in a non-U.S. corporation. ADRs trade and settle in the U.S. in dollars; dividends are also paid to investors in U.S. dollars. ADRs facilitate the purchase, holding and sale of non-U.S. securities by U.S. investors and provide a corporate finance vehicle for non-U.S. companies. ADRs can be held in book-entry form or as a physical certificate.
Founded in 1999, Scotland-based Craneware serves more than 1,000 U.S. healthcare facilities of all sizes, from critical access hospitals to integrated delivery networks. The company's strategic pricing, revenue cycle and supply management solutions help improve financial performance for U.S. hospitals and healthcare organizations.
Keith Neilson, CEO of Craneware plc, commented: "We are pleased to be able to provide this new facility which will allow easier access to Craneware securities by our U.S. employees and U.S. investors who have found it difficult to trade outside the U.S. markets. It will also serve to enhance our U.S. visibility, supporting our ongoing expansion strategy."
BNY Mellon, the global leader in asset management and securities servicing, has been appointed by Craneware as the depositary bank for its ADR program.
"BNY Mellon will use its many resources to develop a mutually beneficial partnership with Craneware and its investors," said Michael Cole-Fontayn, chief executive officer of BNY Mellon's Depositary Receipts business. "We look forward to helping Craneware unlock the investment potential of the U.S. investor community," he said.
If for any reason your broker is not able to purchase this security please have the broker contact Bank of New York Mellon for additional information.
This release is for informational purposes only. It provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee.
About Craneware
Craneware (AIM: CRW.L, CRWRY) is the leader in automated revenue integrity solutions that improve financial performance for healthcare organizations. Craneware's market-driven, SaaS solutions help hospitals and other healthcare providers more effectively price, charge and code for services and supplies associated with patient care. This optimizes reimbursement, increases operational efficiency and minimizes compliance risk. By partnering with Craneware, clients achieve the visibility required to identify, address and prevent revenue leakage. To learn more, visit craneware.com.
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About Bank of New York Mellon
BNY Mellon acts as depositary for more than 2,100 American and global depositary receipt programs, acting in partnership with leading companies from 67 countries. Learn more at www.bnymellon.com/dr.
For further information, please contact: Bank of New York Mellon Craneware plc +44 (0)207 964 6089 +44 (0)1506 407 666 Mark Lewis Keith Neilson, CEO Craig Preston, CFO KBC Peel Hunt Threadneedle Communications +44 (0)20 7418 8900 +44 (0)20 7653 9850 Dan Webster Caroline Evans-Jones Richard Kauffer Fiona Conroy
SOURCE Craneware, Inc.
