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ADR FAQs

What are the benefits of ADRs to US investors?

U.S. investors may 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’ top advantages is the facilitated diversification into foreign securities. ADRs also allow easy comparison to securities of similar companies as well as access to price and trading information.

Why did you establish an ADR program?

Smith & Nephew established the ADR program to make it easier for US investors to buy the Smith & Nephew share.  Trading ADRs simplifies foreign investments for US investors as administrative costs are reduced and capital gains are realized in US dollars.

What effect do you expect the ADR program to have on your shareholder base?

We hope that the ADR program encourages US investors to buy shares in Smith & Nephew as it will now be easier for them to do so.

What types of companies issue ADRs?

ADR issuers are typically large multinational corporations. Any non-U.S. company seeking to raise capital in the U.S. or increase their base of U.S. investor can issue ADRs.  

Is it easy to get information and updates on Smith & Nephew?

Trading information is readily available on the Depositary bank’s website.

Where are Smith & Nephew ADRs traded?

Smith & Nephew are traded on the New York Stock Exchange.

Who is Smith & Nephew’s depositary for ADRs?

Deutsche Bank Trust Company Americas. The depositary bank plays a key role in issuance as well as cancellation of ADRs. It also maintains the ADR holder register, distributes the dividends in US dollars (if applicable) and facilitates the exercise by the ADRs holders of their voting rights (if applicable).  

What currency are Smith & Nephew ADRs denominated in?

Smith & Nephew ADRs are denominated in US dollars.

Are you issuing extra shares of Smith & Nephew?  Does the ADR program increase Smith & Nephew’s share capital?

No, this is not a share issue and the ADR program does not increase Smith & Nephew’s share capital.  

What is the difference between a Registered ADR holder and a Beneficial ADR holder?

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

How do I convert my ordinary shares into ADRs?

Converting ordinary shares into ADRs must be done through a broker investment advisor or for registered holders through Deutsche Bank Trust Company Americas. You can contact Deutsche Bank broker services desk on +1 212 250 9100 or +44 207 547 6500.

How may I check how many ADRs I hold?

If you do not hold via a broker, bank or nominee, please contact our transfer agent:

Deutsche Bank Shareholder Services
American Stock Transfer & Trust Company
6201 15th Avenue
Brooklyn, NY 11219
Email: DB@amstock.com
Toll-free number: +1 866 249 2593

How may I find out corporate action information on Smith & Nephew?

For corporate action information, please click here to visit the website of Deutsche Bank, Smith & Nephew's Depository bank. Search for Smith & Nephew and then select Corporate Actions tab. Alternatively you may contact Deutsche Bank Trust Company Americas Shareholder Services on toll-free number +1 866 249 2593.  

How do I obtain historical share prices of Smith & Nephew’s ADRs, for the purpose of completing my tax return?

Historical share prices for Smith & Nephew’s ADRs can be found on Deutsche Bank website.