Adva admitted to "Prime Standard" of Frankfurt exchange
21 January 2003 -- Adva Optical Networking today announced that its shares have been admitted for trading on the new Prime Standard segment of Germany's Frankfurt Stock Exchange.
21 January 2003 -- Adva Optical Networking today announced that its shares have been admitted for trading on the new Prime Standard segment of Germany's Frankfurt Stock Exchange. Adva also announced today the publication of its compliance declaration on the German Corporate Governance Code.
The Deutsche BÃ¶rse introduced two new trading segments on 1 January 2003, the "Prime Standard" and "General Standard", and will eventually replace the current segment structure, including the Neuer Markt on which ADVA's shares were listed. The introduction of the new segments intends to increase the transparency requirements, improve the integrity of the German capital markets, and strengthen investor confidence.
Companies admitted to the Prime Standard segment fulfill the most stringent internationally-recognized transparency and reporting requirements, including publication of quarterly reports in both German and English according to either IAS or U.S. GAAP accounting standards, presentation of a corporate calendar, issuance of ad-hoc press releases, and hosting of analyst conferences.
Adva claims to have consistently fulfilled all of the Prime Standard segment criteria since its initial public offering in March 1999. More information about the new Prime Standard segment can be found on the Deutsche BÃ¶rse website at www.deutsche-boerse.com