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To: amoezzi who wrote (55850)9/28/2007 9:31:40 AM
From: Fred BrackRead Replies (1) of 118717
 
I had the same question regarding the change of symbol for LR to LFRGY, so I went to their website and looked in their "Press Room." Although the actual symbol change isn't mentioned, this August press release explains their intent, which was indeed implemented this week. (I had to contact ClearStation to get the symbol updated, and that has now been done.)


8/2/07 Lafarge announces intention to apply for delisting from New York Stock Exchange

Euronext : LG, NYSE : LR

Lafarge announces its intention to apply for the voluntary delisting of its American Depositary Receipts (ADRs) from the New York Stock Exchange (NYSE). This delisting will be followed by an application to deregister under the Securities and Exchange Act of 1934. The delisting is expected to take effect in September 2007.

The main reasons behind this decision are as follows:

Lafarge notes recent changes, in particular the merger of the New York Stock Exchange and Euronext.

Lafarge is listed on Euronext, where the average trading volume has accounted for close to 99 % of trading in its securities.

Lafarge ADR trading volume has remained very low since 2002, accounting for around 1% of the total shares traded over recent years (volumes adjusted to reflect the 1 share to 4 ADRs ratio).

Lafarge was one of the very first European groups to be compliant with section 404 of the Sarbanes-Oxley act, attesting to the transparency and quality of the Group’s internal processes. Lafarge remains committed to maintaining high standards of internal controls and financial information.

Lafarge intends to maintain its ADR program as a “level one” program, to enable investors to retain their ADRs.

Fred
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