Craneware launches American share scheme
Craneware has launched an American investment programme to raise further capital to support its expansion. Each American Depositary Receipt (ADR) share will represent two ordinary shares and trade on the over the counter market. An ADR is a US certificate representing ownership of shares in a non-US corporation and provides a corporate finance vehicle for companies not based in America.
Craneware has its headquarters in Livingston, West Lothian, but all of sales of its healthcare revenue software are in the US, where it supplies more than 1,000 hospitals and healthcare facilities.
Keith Neilson, CEO of Craneware, said: "We are pleased to be able to provide this new facility which will allow easier access to Craneware securities by our U.S. employees and U.S. investors who have found it difficult to trade outside the U.S. markets. "It will also serve to enhance our U.S. visibility, supporting our ongoing expansion strategy."
BNY Mellon has been appointed as the depositary bank for the ADR program.
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