PALO ALTO, Calif.--(BUSINESS WIRE)--Globo Plc (LSE-AIM: GBO) (OTCQX: GOBPY) (“Globo” or the “Company”), the global provider of complete enterprise mobility and application development platforms and services, will begin trading today on the OTCQX International Exchange in the U.S. under the ticker symbol “GOBPY,” furthering the Company’s U.S. expansion.
Globo’s shares will continue to trade on the London Stock Exchange AIM market (LSE: GBO), where the Company has been listed since 2007. The Bank of New York Mellon serves as Globo’s ADR Bank and Principal American Liaison (“PAL”) on OTCQX, responsible for providing professional guidance on OTCQX requirements. Canaccord Genuity Inc., will act as a market maker in the Company’s ADR.
The Globo ADR represents a ratio of 20 ordinary Globo shares to 1 ADR, created using the existing issued share capital of the Company.
Costis Papadimitrakopoulos, Founder and CEO of Globo, commented:
“Trading on the OTCQX International market will facilitate ownership for a broader range of investors. We believe this will increase awareness of Globo’s strategy and progress among the U.S. investment community, where we have found strong interest in our Company. The U.S. market for mobile enterprise services and enablement is highly-developed and attractive, as a result of which in 2014 Globo increased its presence in the region with the establishment of headquarters in Palo Alto, Calif., my move to the U.S., and the recent addition of development facilities in Pennsylvania.”
Robert Cromwell Coulson, President and CEO of OTC Markets Group, commented:
“Globo Plc has been rapidly expanding its U.S. presence, bringing its award-winning mobile app development and device management solutions to American businesses and their employees and clients. We are thrilled to welcome Globo to the OTCQX marketplace which will help the Company efficiently increase its visibility with U.S. investors, its customers and the public.”
In addition, Globo has been added to RB Milestone Group’s portfolio on HiAlpha®, a social network for financial professionals, as a Corporate Member and Globo can be accessed on the S&P Capital IQ platform.
Globo’s listing on the OTCQX is the direct result of increased interest in the Company from U.S. investors, along with the Company’s commitment to the U.S. market and expansion of its enterprise mobility solutions. Over the past year, Globo has established offices in Palo Alto, Calif. and Pittsburgh, Penn., and expanded operations in Canfield, Ohio; and as of December 31st, 2014, over 25 percent of its workforce is located in the U.S. In addition, from 2013 to 2014, Globo’s revenues from North America increased by 334 percent, representing 15 percent of the Company’s total revenue.
As a global leader in mobile enterprise enablement, Globo helps companies mobilize their organizations – for employee productivity, customer engagement and partner interaction. Globo offers mobile app development services that manage the entire lifecycle of mobile apps as organizations transform to a “mobile first” world. Its award-winning GO!Enterprise platform can in turn design, deploy, manage and secure these apps on all smart devices across all operating systems.
A real-time quote may be accessed at www.otcmarkets.com/stock/GOBPY/quote and the stock trading code (CUSIP) is 37959C 106.
Full details of the Group’s Level 1 ADR program are available on www.globoplc.com.
Globo Plc is a global provider of complete enterprise mobility and application development platforms and services. Our GO!Enterprise (EMM) and GO!AppZone (MADP) offerings help businesses expand their engagement with employees and customers through the mobile channel via a secure and extensible environment that runs on all smart devices. The Group operates internationally through subsidiaries and offices in U.S., U.K., Europe, Middle East and South East Asia. Globo was recognized in the 2014 Gartner Enterprise Mobility Management Magic Quadrant report, Ovum's 2014-15 Decision Matrix for EMM Solutions and Ovum's 2015-16 Decision Matrix for MADP. For more information visit www.globoplc.com.
The OTCQX marketplace is the leading tier of the US over-the-counter market. OTCQX offers investors information on trading, company background and news, and access to regulated broker-dealers. It is used by 391* overseas, principally European, companies, such as Roche, BASF, Deutsche Telekom, AXA, Sky PLC., Heineken, Severn Trent PLC etc. OTCQX states that it is: “Designed for investor-focused companies that meet high financial standards, are current in their disclosure and receive third party advisory. The companies found on OTCQX are distinguished by the excellence of their operations and diligence with which they convey their qualifications.” (* As of December 31, 2014).