SAN DIEGO, Aug. 27, 2012 /PRNewswire/ -- ResMed Inc. (NYSE: RMD) today announced that shareholders will not be able to convert ResMed stock between the New York Stock Exchange (NYSE) and the Australian Stock Exchange (ASX) between and including August 31, 2012 and September 7, 2012.
On August 2, 2012, as previously announced, the ResMed board of directors declared a quarterly dividend of $0.17 per share, which will have a record date of September 7, 2012, and be payable on September 28, 2012. The dividend will be paid in US currency to holders of its common stock trading on the NYSE. Holders of CHESS Depositary Instruments (CDIs) trading on the ASX will receive an equivalent amount in Australian currency, based on the exchange rate on the record date, also reflecting the 10:1 ratio between CDIs and US common shares listed on the NYSE.
Because the two exchanges have different settlement and transfer procedures, the ex-dividend periods before the record date will be different for common stock and for CDIs. The ex-dividend day will be September 3, 2012 for CDI holders and September 5, 2012 for common stock holders. As a result of these differences, the ASX has granted ResMed a waiver from ASX's settlement operating rules, which will allow ResMed to defer processing conversions between its common stock and CDI registers from August 31, 2012 through September 7, 2012, inclusive.ResMed is also changing its transfer agent from American Stock Transfer and Trust Co. LLC to Computershare, effective close of business August 24, 2012. Contact information for Computershare will be available on ResMed's Website under the Investor Section. About ResMedResMed is a global leader in the development, manufacturing and marketing of medical products for the diagnosis, treatment and management of respiratory disorders, with a focus on sleep-disordered breathing. The company is dedicated to developing innovative products to improve the lives of those who suffer from these conditions and to increasing awareness among patients and healthcare professionals of the potentially serious health consequences of untreated sleep-disordered breathing. For more information on ResMed, visit www.resmed.com. Further information can be obtained by contacting Constance Bienfait at ResMed Inc., San Diego, at (858) 836-5971; Brett Sandercock at ResMed Limited, Sydney, on (+612) 8884-2090; or by visiting the Company's multilingual Website at www.resmed.com. Statements contained in this release that are not historical facts are "forward-looking" statements as contemplated by the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including statements regarding the Company's future revenue, earnings or expenses, new product development and new markets for the Company's products, are subject to risks and uncertainties, which could cause actual results to materially differ from those projected or implied in the forward-looking statements. Those risks and uncertainties are discussed in the Company's Annual Report on Form 10-K for its most recent fiscal year and in other reports the Company files with the U.S. Securities & Exchange Commission. Those reports are available on the Company's Website.