(The following press release from Grupo Radio Centro, S.A.B. de C.V., was
received by e-mail and was reformatted. The sender verified the statement.)
Grupo Radio Centro to Delist from The New York Stock Exchange and Terminate its
Mexico City, Mexico, December 20, 2012 - Grupo Radio Centro, S.A.B. de C.V.
("GRC" or the "Company") (NYSE: RC, BMV: RCENTRO-A), announced that the Company
intends to delist its American Depositary Shares ("ADSs") from The New York
Stock Exchange ("NYSE") and to terminate its American Depositary Receipt
("ADR") program. The main purpose of delisting is to obtain efficiencies in the
Company's financial reporting and administrative costs.
Today, GRC will provide written notice to the NYSE of its intent to delist. GRC
plans to file the related Form 25 with the Securities and Exchange Commission
("SEC") shortly thereafter, and expects the delisting to become effective ten
days later, after which GRC's ADSs will no longer be traded on the NYSE. GRC's
shares will continue to be traded on the Bolsa Mexicana de Valores in Mexico.
GRC has not arranged for the listing or registration of its ADSs or Series A
shares on another U.S. national securities exchange or for their quotation in a
quotation medium in the United States.
GRC will continue to be registered under the U.S. Securities Exchange Act of
1934 (the "Exchange Act") for the time being, and GRC will continue to comply
with its obligations under the Exchange Act. Once the delisting has become
effective and GRC meets the criteria for terminating its reporting obligations
under the Exchange Act, it intends to file Form 15 with the SEC in order to
deregister all classes of its registered securities. Immediately upon filing
Form 15 GRC's duty to file reports under the Exchange Act will be suspended,
and deregistration is expected to become effective 90 days later.
Also today, GRC will provide written notice to Citibank, N.A. ("the
"Depositary") of the termination of its ADR program. Consequently and pursuant
to the deposit agreement, the Depositary will provide 30 days' notice of
termination to all holders of ADSs. Holders are entitled to surrender their
ADSs to the Depositary for cancellation and receive the underlying GRC shares.
After a two-year period following the termination of the ADR program, the
Depositary may sell the underlying shares and hold the cash proceeds uninvested
for the pro rata benefit of holders of unsurrendered ADSs.
GRC reserves the right, for any reason, to delay these filings or to withdraw
them prior to their effectiveness, and to otherwise change its plans in this
For additional information, please contact us at:
Pete Majeski, Vice President
i-advize Corporate Communications, Inc.
20 Broad Street, 25th Floor
New York, NY 10005
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