OREANDA-NEWS. December 7, 2011. Essar Energy plc [LSE: ESSR], the India-focused integrated energy company, today announced the launch of its sponsored level 1 American Depositary Receipt (ADR) programme. Trading under the symbol ‘ERERY’, each ADR represents two ordinary shares of Essar Energy and is traded on the U.S. Over-The-Counter (OTC) market.

An ADR is a negotiable U.S. certificate representing ownership of shares in a non-U.S. company. ADRs are traded and settle in U.S. dollars. Essar Energy believes that the establishment of the ADR programme will benefit existing shareholders by making its shares more accessible to U.S. investors and providing Essar Energy with increased visibility within the U.S. market.

Naresh Nayyar, Chief Executive Officer of Essar Energy, said: “We are delighted to have an ADR programme and to be traded on the OTC market. This is a key milestone in building market awareness of Essar Energy and opens up a new source of potential investors in our Company.”

BNY Mellon has been appointed as the depositary bank for the sponsored ADR programme.