SCOR intends to delist its American Depositary Shares (ADSs) from the New York Stock Exchange (NYSE) and to deregister under the U.S. Securities exchange act of 1934
SCOR announces its intention to apply for the voluntary delisting of its American Depositary Shares (ADSs) from the New York Stock Exchange (NYSE) and voluntarily terminate the registration of its securities under the U.S. Securities Exchange Act of 1934. SCOR expects to file relevant applications on June 4, 2007, the effective date of the new foreign private issuer deregistration rules issued by the U.S. Securities and Exchange Commission.
- The primary market for SCOR's shares is Euronext (now part of NYSE-Euronext), where the average trading volume has accounted for more than 97 % of SCOR's worldwide trading volume over the last three years;
- SCOR's ADS trading volume has declined over the past three years and has accounted for approximately 1% of the total volume of shares traded over the last year (adjusted to reflect SCOR's January 2007 ten-for-one reverse share split);
- SCOR adopted International Financial Reporting Standards (IFRS) in 2005. The Company believes that U.S. GAAP and IFRS are generally equivalent in terms of disclosure and quality of information for investors and that it is unnecessary to publish its accounts under the two reporting standards.
- SCOR is continuously seeking to optimize its operating costs.
Group Head of Communications
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Head of Investor Relations
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