Creative Labs (CREAF) Message Board

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Technology Stocks : Creative Labs (CREAF)

CREAF 0.411

+11.2%

Dec 8 12:12 PM EST

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To: Douglas V. Fant who wrote (8257)	1/15/1998 11:16:00 AM
From: Chris Sholler	Read Replies (1) of 13925

When CREAF did their IPO (8/92) they issued 3.6M ORDINARY SHARES to investors on NASDAQ. In doing so they agreed to be bound by the rules and regs of SEC and US GAAP. The Form 20-F is a dual function form used, among other things, "as an annual report under Section 13(a) or 15(d) of the 1934 Act". The bottom line is that when companies offer and ADR/GDR, the offering documents specify it as such. Neither of CREAF's public offerings indicated such - they said they were ORDINARY SHARES. Look at Samsung's offering (10/95) or Saville Systems (5/96) and you see they were selling ADRs/GDRs that represented ordinary shares.

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