BASF to delist from New York Stock Exchange2 August 2007
BASF expect the delisting to become effective on September 6, 2007, at which time the company's ADRs will no longer be traded on the NYSE. BASF intend to maintain their ADR program in order to enable investors to retain their ADRs, as well as to facilitate trading in the US over-the-counter market. This means that investors do not need to exchange their ADRs, unless they are restricted to investments in registered securities. BASF's ordinary shares will continue to be traded on the stock exchanges in Frankfurt, London and Zurich. The large majority of BASF shareholders, including US investors, buy the company's shares in the primary trading market in Frankfurt or on the electronic trading platform Xetra. 'Our decision to delist from the New York Stock Exchange underlines BASF's continuous efforts to reduce complexity and costs', said Dr Jürgen Hambrecht, Chairman of the Board of Executive Directors of BASF Aktiengesellschaft. 'BASF's senior management remains committed to maintaining an open dialogue with US investors.' Despite the delisting, BASF will maintain the high level of disclosure expected by the international financial markets. For example, information reported in the Annual Report on Form 20-F which is important to analysts and investors will be integrated into BASF's financial reporting according to IFRS. BASF have provided written notice to the NYSE of their intent to delist and plan to file a Form 25 with the SEC on or about August 27, 2007, to initiate the delisting. BASF expect that the delisting will be effective ten days after such filing. BASF intend to file a Form 15F with the SEC to deregister and terminate their reporting obligations under the Exchange Act after the delisting has become effective. BASF reserve the right to delay or withdraw the filings for any reason prior to their effectiveness. BASF have not arranged for the listing of their ADSs or ordinary shares on another national securities exchange or for the quotation of its ADSs or ordinary shares on a quotation system in the United States.