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The Bank of New York Mellon Appointed as Depositary Bank by Gintech Energy Corporation for its GDR Program

Posted on: Wednesday, 8 April 2009, 07:35 CDT

NEW YORK, April 8 /PRNewswire-FirstCall/ -- The Bank of New York Mellon (NYSE: BK), the global leader in asset management and securities servicing, has been selected by Gintech Energy Corporation ("Gintech") as the depositary bank for its global depositary receipt (GDR) program, which became effective on March 19, 2009. Each Gintech GDR represents one common share. The common shares are listed on the Taiwan Stock Exchange, under the stock code "3514." Gintech GDRs and common shares have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the U.S. (absent registration or an applicable exemption from the registration requirements).

Gintech Energy Corporation designs, manufactures and markets high-performance solar cells used to convert sunlight into electricity. The company is a main provider to solar module manufacturers that assemble and integrate the cells within solar modules and systems. Gintech's solar cells are used worldwide in products providing reliable and environmentally-friendly electric power, including in Germany, Spain, The People's Republic of China, South Korea, Italy, U.S. and Japan.

"We are delighted to be appointed by Gintech to act as depositary bank for its GDR program and to also be the first depositary bank to launch a DR offering from Asia this year," said Michael Cole-Fontayn, chief executive officer of The Bank of New York Mellon's Depositary Receipt Division. "We hope that our partnership with Gintech will stimulate capital-raising opportunities for other issuers, and we look forward to taking on that challenge."

The Bank of New York Mellon acts as depositary for more than 1,300 sponsored American and global depositary receipt programs, working in partnership with leading companies from 64 countries. With an unrivalled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the Company delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Additional information is available at www.bnymellon.com/dr.

The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $20.2 trillion in assets under custody and administration, $928 billion in assets under management, services more than $11 trillion in outstanding debt, and processes global payments averaging $1.8 trillion per day. Additional information is available at www.bnymellon.com.

This release is for informational purposes only. The Bank of New York Mellon provides no advice, recommendation, or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee.

SOURCE The Bank of New York Mellon Corporation

Source: PR Newswire

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