This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

BNY Mellon Appointed As Depositary Bank By Mr Price Group

NEW YORK, July 3, 2012 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been appointed by Mr Price Group as the depositary bank for its sponsored depositary receipt (DR) program.  Previously, Mr Price Group traded as an unsponsored DR program.  Each Mr Price Group DR represents one ordinary share and trades on the OTC market in the U.S. under the symbol "MRPLY."  Mr Price Group's ordinary shares trade on the Johannesburg Stock Exchange (JSE) under the symbol "MPC."

Headquartered in Durban, South Africa, Mr Price Group is a fashion value retailer of apparel, homeware and sportswear.  The company operates apparel stores under the Mr Price Apparel, Mr Price Sport, and Miladys brands; and home products stores under the Mr Price Home and Sheet Street brands.  It operates 937 stores in Southern Africa and 24 franchised stores in Africa.

"We are delighted to partner with BNY Mellon in establishing a sponsored DR program and to be traded on the U.S. OTC market," said Mark Blair, CFO of Mr Price Group.  "As we expand our growth into key markets outside of South Africa, the DR program is an exciting new source of potential investors."                                                                

Currently, 36 of the Johannesburg Stock Exchange 'Top 40' constituents, by market cap, have a DR program.  BNY Mellon is depositary for 30 of those.  Mr Price Group is the second appointment of BNY Mellon as depositary by a South African company in the last month.

"We look forward to helping Mr Price Group unlock the potential of the U.S. investment community," said Michael Cole-Fontayn, chief executive officer of BNY Mellon's Depositary Receipts business.  "As the world's leading depositary, BNY Mellon will utilize its many resources to develop a mutually beneficial partnership with the company and its investors."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,493.37 -69.93 -0.42%
S&P 500 1,925.15 -5.52 -0.29%
NASDAQ 4,352.6390 -17.1340 -0.39%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs