Bern, 08 August 2007
Today, Swisscom AG (virt-x: SCMN, NYSE: SCM) provided written notice to the New York Stock Exchange (NYSE) of its intent to delist its ordinary shares and American Depositary Shares (ADSs), which are traded as American Depositary Receipts (ADRs), from the NYSE (see also Swisscom press release of 6 July 2007). Swisscom AG intends also to file a Form 15F with the SEC to deregister and terminate its reporting obligations under the Exchange Act. The delisting is planned to be effective from 31 August 2007.
Swisscom AG's board decided to delist from the NYSE and deregister under the Exchange Act in accordance with the new SEC rules with a view to reducing both the costs and the complexity of complying with two sets of regulations that are substantively quite similar. Trading volume for Swisscom securities is low in the US compared with the virt-x in London.
The current ADR programme will be converted from a Level 3 programme to a Level 1 programme with over-the-counter (OTC) trading. Accordingly, the Company has not arranged for the listing of its ADSs or ordinary shares on another national securities exchange or for the quotation of its ADSs or ordinary shares in a quotation medium in the United States. The Company's ordinary shares will continue to be listed at SWX Swiss Exchange in Zurich and therefore to trade on the virt-x in London. Current holders of ADRs will be able to retain their shares or exchange them for ordinary Swisscom AG shares in CHF. ADR holders will receive applicable notices from the Bank of New York.
The Company will continue to publish its Annual Report, financials and other documents and communications in accordance with Exchange Act Rule 12g3-2(b) on its Investor Relations website at www.swisscom.com/ir.
The timetable for delisting and deregistration is available on the Internet at