The Bank of New York Appointed as Depositary by SThree
NEW YORK, June 21, 2007 -- The Bank of New York, a global leader in securities servicing, has been selected by SThree plc as the depositary bank for its American depositary receipt (ADR) program. Each SThree ADR represents one ordinary share. The ADRs trade on the over-the-counter market under the symbol "SERTY," and the ordinary shares are listed on the London Stock Exchange under the symbol "STHR."
SThree, headquartered in London and founded in 1986, is a specialist staffing businesses in the United Kingdom (UK) and Europe, providing permanent and contract specialist staff to a diverse, international client base, servicing the banking and finance, accountancy, human resources, engineering and pharmaceutical sectors. SThree currently operates 12 brands, the four largest being Computer Futures, Huxley Associates, Progressive and Pathway, and has 33 offices in the UK, 13 in Europe and one in New York.
Michael Nelson, chief financial officer of SThree, said, "We selected The Bank of New York as depositary because of its proven track record. We are entering the U.S. market to broaden our investor base and to globally expand our brand, and we believe the Bank will help us reach these goals with our ADRs."
Christopher Sturdy, executive vice president and head of The Bank of New York's Depositary Receipt Division, said, "We are delighted to be working with SThree as it further targets U.S. investors via a Level I ADR program. As the depositary for 71% of all sponsored DR programs from the UK, we have extensive experience with UK issuers and will support SThree with personalized investor outreach initiatives."
The Bank of New York is depositary for more than 1,250 American and global depositary receipt programs, a 64% market share, acting in partnership with leading companies from 62 countries. With an unrivalled commitment to helping securities issuers succeed in the world’s rapidly evolving financial markets, the Bank delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Additional information is available at www.adrbny.com.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, asset management, and wealth management. The Company's extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com.
The Bank of New York provides no advice nor recommendation or endorsement with respect to any company or security. Nothing herein shall be deemed to constitute an offer or solicitation of an offer to buy or sell securities.
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