Deutsche Bank today announced its appointment as successor depositary bank for the Level I American Depositary Receipt (ADR) program of Strategic Minerals plc (Strategic Minerals), headquartered in the United Kingdom.
Strategic Minerals plc is a UK registered resources company focused on the development and supply of iron ore- in particular magnetite – to the world’s industrial markets. The company seeks a balance between near term marketable magnetite production assets and the significant capital gains growth associated with the exploration and development of prospective deposits.*
Akbar Poonawala, Head of Global Equity Services at Deutsche Bank said, “We are delighted to welcome Strategic Minerals as our client in the establishment of its Level I ADR program. We look forward to working with the company in the administration of their ADR program.”
*Source: Strategic Minerals plc (January 2012)