NEW YORK--(BUSINESS WIRE)--Citi today announced that its Global Transaction Services business, acting through Citibank N.A., has been appointed by Resource Generation Limited (“Res Gen”), an Australia based exploration and development company focused on energy related resources, as depositary bank for its sponsored Level 1 American Depositary Receipt (ADR) program. Res Gen will trade in the OTC marketplace, under the symbol RSGNY. Res Gen’s ordinary shares are listed on the Australian Stock Exchange (“ASX”). Each ADR represents four (4) ordinary shares.
Paul Jury, Managing Director of Resource Generation Limited, said “The ADR programme will assist Res Gen in continuing to broaden the shareholder base internationally. We are pleased to have appointed Citi as our depositary bank, and know that their expertise with ADRs and the strength of the Investor Relations team will help to ensure the success of the programme.”
Dirk Jones, Global Head of Securities and Fund Services Client Sales Management, said “We are very pleased to be appointed depositary bank for Res Gen’s sponsored ADR programme. By matching Citi’s local Australian expertise with Citi’s global distribution network and investor relations expertise, we’re confident that we can help Res Gen increase its program visibility in the market.”
Through its Securities and Fund Services business, Citi offers issuers of debt and equity, globally consistent capabilities, and local expertise, backed by over 100 years of serving clients in markets across the globe. As a result, Citi is able to deliver specialized solutions for complex capital market transactions across more than 70 countries. For more information on Citi’s Depositary Receipt Services, visit www.citi.com/dr.
Global Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citi’s Global Transaction Services supports over 65,000 clients. As of the fourth quarter of 2010, it held on average $353 billion in liability balances and $12.6 trillion in assets under custody.
About Resource Generation Limited
Resource Generation Limited is a resources company primarily engaged in the exploration and development of coal resources in South Africa. . The Company’s mineral tenements and exploration segment consist of defined coal tenements in South Africa and Tasmania and prospective uranium tenements in Cameroon. The major focus is on the development of its Boikarabelo coal mine in South Africa. This is a 6.4 billion tonne resource on which sufficient mine planning and exploration has taken place to delineate a probable reserve of 745 million tonnes across only 35% of the coal-bearing tenements. The Company’s subsidiaries include Resgen Mauritius Limited, Resgen Africa Holdings Limited, Resgen South Africa (Pty) Ltd and Ledjadja Coal (Pty) Limited. For more information: http://resgen.com.au/
About Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.