|[February 20, 2013]
SEC approves GOWEX ADR Program (American Depositary Receipt) for a listing on the U.S. market.
MADRID --(Business Wire)--
GOWEX (MAD:GOW) (Paris:ALGOW), leader in
creating Wi-Fi Smart Cities (Wireless Smart Cities®) and Intelligent
Wi-Fi Transport, has received approval from the Securities Exchange
Commission (SEC (News - Alert)) to initiate a program of ADR (American Depositary
Receipt) in the U.S. market.
* The ADR is a negotiable U.S. certificate representing ownership of
shares from a company registered outside the U.S. and is designed to
provide easier purchase, holding and sale of foreign securities by U.S.
Isin Number : US5272611014
GOWEX ADRs will be listed in dollars on the Over the Counter "OTC"
market, under the ISIN Number US5272611014. The parity between ADR and
an ordinary share has been set as 1:1, one ADR corresponds to one common
share of GOWEX.
Bank of New York Mellon will act as depositary bank responsible
for managing the ADR program.
Thanks to the ADR program American and international investors will
easily access to GOWEX shares reinforcing the company's global
visibility and liquidity. It will increase the shareholde base, with
investors around the world and promote a more efficient price
Jenaro Garcia pointed out that "GOWEX today opens the door to
investors coming from the most market friendly country." In
addition, the CEO of GOWEX stressed that "for us, the entry into the
U.S. market is a quantum evolution for our roadmap; it will be a
fundamental leap in quality and visibility for the importance of our
Documents are available on the SEC website.
About GOWEX (GOW-MAB, ALGOW-NYSE Alternext)
GOWEX (GOW-MAB, ALGOW-NYSE Euronext) has operated in the
telecommunications sector for 13 years. It is currently leading the
creation of "Wi-Fi Cities," which offers free and premium Wi-Fi
connectivity on the street and in means of public transportation. The
company is now exporting its innovative business models to many cities
in Europe, South America, Asia, and emerging countries.
In 2010, it became the first and only Spanish SMB to make a "dual
listing," publicly traded in MAB (GOW) and NYSE-Euronext (ALGOW). The
company's total revenue amounted to €66.7 million in 2011, and for the
first half of 2012, it was €41 million (60% over the same period on
2011. On December 2012, GOWEX subscribed a €18 million capital, adding
1,528,404 new common shares to the market.
With offices in Madrid, Burgos, Buenos Aires, London, San José (Costa
Rica), Paris, and Shanghai, GOWEX develops a sustainable business model
in its Wi-Fi networks, based on the efficient and technical quality of
their patented platforms: the Roaming Platform, which allows users to
connect freely in all the cities, and the Geolocalization Content and
Advertisement Platform, which provides financing business through
marketing and advertisement agreements.
In 2011, GOWEX joined the Wireless Broadband Alliance and received a
prize for the "Best Web Company" on Internet Day.
In February 2012, Jenaro Garcia GOWEX CEO received the "Entrepreneur
of the Year Award" by Ernst & Young in the category of "Innovation".
P° de la Castellana 21
28046 Madrid (Espana)
Tlf. +34 91 360
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