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Trading of TV Azteca ADRs on the New York Stock Exchange Expected
to Be Suspended on July 18, 2005
MEXICO CITY, June 24 /PRNewswire-FirstCall/ -- TV Azteca, S.A. de C.V. (BMV:
TVAZTCA; NYSE: TZA; Latibex: XTZA), one of the two largest producers of
Spanish-language television programming in the world announced that, effective
June 17, 2005, The Bank of New York (BONY) gave notice of termination of TV
Azteca's ADR program to the holders of TV Azteca's American Depositary Receipts
(ADRs). Upon such notice of termination, BONY discontinued issuing new ADRs,
by filing a Post-Effective Amendment to Form F-6 with the United States
Securities and Exchange Commission. Additionally, the deposit agreement was
amended to reduce to 60 days the period during which holders may exchange ADRs
for CPOs traded on the Mexican Stock Market (BMV).
As was previously announced, at an Extraordinary Shareholders' Meeting held on
June 1, 2005, 99.85% of TV Azteca's shareholders approved the termination of
the ADR program, after an analysis and discussion of the costs and benefits of
continued listed in the U.S. capital markets.
Pursuant to the termination of the deposit agreement, the NYSE is expected to
suspend trading of the ADRs in the United States on or about July 18, 2005. ADR
holders will have 60 days to exchange their ADRs for CPOs traded on the BMV.
Upon the expiration of the 60-day period, BONY will be allowed to sell the CPOs
underlying the ADRs that were not surrendered and distribute the proceeds of
such sale to holders.
Company Profile
TV Azteca is one of the two largest producers of Spanish language television
programming in the world, operating two national television networks in Mexico,
Azteca 13 and Azteca 7, through more than 300 owned and operated stations
across the country. TV Azteca affiliates include Azteca America Network, a new
broadcast television network focused on the rapidly growing US Hispanic market,
and Todito.com, an Internet portal for North American Spanish speakers.
Except for historical information, the matters discussed in this press release
are forward-looking statements and are subject to certain risks and
uncertainties that could cause actual results to differ materially from those
projected. Risks that may affect TV Azteca are identified in its Form 20-F and
other filings with the US Securities and Exchange Commission.
DATASOURCE: TV Azteca
CONTACT: Investors: Bruno Rangel, +52-55-1720-9167,
, or Rolando Villarreal, +52-55-1720-0041,
, or Press: Tristan Canales, +52-55-1720-1441,
, or Daniel McCosh, +52-55-1720-0059,
, all of TV Azteca
Web site: http://www.tvazteca.com.mx/