MIAMI, Jan. 22, 2014 /PRNewswire/ -- Platform Specialty Products Corporation ("Platform" or the "Company") announced that its domestication into a Delaware corporation is effective and its common stock is expected to begin trading on the New York Stock Exchange under the ticker symbol "PAH" on January 23, 2014 (the "Listing Date").
Platform's ordinary shares and warrants, which are admitted to trading on the London Stock Exchange, were suspended from trading on the London Stock Exchange on October 10, 2013 when the Company announced its intention to acquire MacDermid, Incorporated. Promptly following the Listing Date, Platform will request for the listing of its ordinary shares and warrants to be cancelled from the Official List of the FCA and for the admission to trading of its securities to be cancelled from the Main Market of the London Stock Exchange.
Dan Leever, Platform's CEO said, "Platform's key mission is to create value for our shareholders by building a portfolio of market-leading specialty chemicals businesses. We believe that our listing on the New York Stock Exchange furthers this objective by elevating our profile on a global scale, enhancing liquidity and visibility, and increasing the accessibility of our shares."
"We are delighted that Platform has chosen to transfer its listing to the New York Stock Exchange and we look forward to embarking on this long-term partnership with the company and its shareholders," said Scott Cutler, Executive Vice President and Head of Global Listings of NYSE Euronext. "As Platform works towards its long-term vision of being a leading global specialty chemicals company, our unique services, tools and intelligence will help the company achieve its capital markets goals."
Prior to the domestication, most of the Company's ordinary shares and all of the Company's warrants were held as depositary interests in CREST in the name of a CREST nominee. In connection with the domestication and listing on the NYSE, these CREST positions will be transferred to the nominee's CREST participant account at the Depository Trust Company ("DTC") on behalf of each beneficial holder. The CUSIP number for the shares will be 72766Q 105 and the CUSIP number for the warrants will be 72766Q 113. In order to facilitate settlement of trades and warrant exercises after the Listing Date, the Company strongly encourages each beneficial holder to instruct its CREST nominee to move its positions from the CREST participant account into a direct DTC participant account.
Platform is a global producer of high-technology specialty chemical products and provider of technical services. The business involves the manufacturing of a broad range of specialty chemicals, created by blending raw materials, and the incorporation of these chemicals into multi-step technological processes. These specialty chemicals and processes together encompass the products sold to our customers in the electronics, metal and plastic plating, graphic arts, and offshore oil production and drilling industries. More information on Platform is available at http://www.platformspecialtyproducts.com.
Forward-Looking Statements and Disclaimers
This press release does not constitute or form part of any offer or invitation to purchase, otherwise acquire, issue, subscribe for, sell or otherwise dispose of any securities, nor any solicitation of any offer to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities of the Company.
This press release contains forward-looking statements which are based on the Company's expectations, intentions and projections regarding the date on which Platform shares will be listed on the New York Stock Exchange. Given these risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of such statements and, except as required by applicable law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Platform Specialty Products Corporation