US investors may invest in ONWARD Medical through a US dollar-denominated American Depositary Receipt (ADR), which can be bought and sold via the OTCQX® Best Market under the symbol ONWRY.

ADRs are instruments representing shares that allow investors to invest in shares in non-US companies while trading in US across markets. Issued by US depositary banks, ADRs make it easier for American investors to access international equities without dealing with foreign currencies or overseas exchanges.

These ADRs trade, settle, and clear just like shares of US-listed companies and are accessible through any registered US brokerage, including online platforms such as Fidelity, Charles Schwab or Interactive Brokers. 

The ordinary shares of ONWARD Medical are listed on Euronext Brussels, Amsterdam and Paris under the ticker symbol ONWD. Each ADR (ONWRY) corresponds to one ordinary share in ONWARD. The ADR's market price tends to reflect the value of the underlying shares, adjusted for both the ADR ratio and currency exchange rates.

What are the benefits of holding an ADR?

ADRs offer several advantages to US investors, including:

  • Convenience: They trade in US dollars on OTCQX®.
  • Accessibility: Investors can gain exposure to international companies without opening a foreign brokerage account.

ADR Holders receive all information published in the company's home country in the English language.

How can I hold ONWARD's ADRs?

There are two ways to hold ADRs. Either you hold ADRs through your usual bank or broker, in which case you are a "beneficial holder". Alternatively, you can hold your ADRs directly through BNY as ADR depositary, in which case you are a "registered holder". You are therefore on the company's shareholder register that is maintained by ONWARD’s ADR depositary, BNY. Registered holders of ONWARD’s ADRs may hold their ADRs either physically in the form of a certificate or in uncertificated, book-entry form, evidenced by an account statement.

How can I buy and sell ONWARD's ADRs?

You can buy and sell ONWARD's ADRs through any broker licensed to buy and sell US securities.

If you opt to be a registered holder you may contact BNY, ONWARD's ADR depositary bank (see contact information below).

Who is ONWARD's ADR depositary bank?

ONWARD's ADR depositary bank is the Bank of New York Mellon Corporation (BNY).

How can the depositary bank be contacted?

Contact details of ONWARD's ADR depositary bank, BNY, are as follows.

US phone number: +1 212 815 2275
UK phone number: +44 207 163 7407
Email: adrdesk@bnymellon.com
Website: https://www.adrbny.com
Corporate Headquarter: 240 Greenwich Street New York, NY 10286 USA

Shareholder correspondence:
BNY Shareowner Services
P.O. Box 43006
Providence RI 02940-3078

Overnight correspondence:
BNY Shareowner Services
150 Royall St., Suite 101
Canton, MA 02021
www.computershare.com/investor

What is the ADR ratio and have there been changes?

The relationship between the ADR and the ordinary share is referred to as the ratio. In the case of ONWARD's ADRs, one ONWARD ADR represents one ordinary share in ONWARD.

What are the main tickers for ONWARD's ADRs?

ONWARD's ADRs are traded on the US over-the-counter Best Market (OTCQX®) under the symbol ONWRY.

Do ADRs protect investors from foreign currency exchange rate fluctuations?

No, ADR share prices carry foreign currency risk depending on the movement of the US dollar against the euro. Most ADRs trade in line with the underlying security. The spread is in general very small, reflecting the cost of foreign exchange conversion and other execution costs. If the currency of the underlying stock rises against the US dollar, the ADR price is expected to rise (and vice versa).

What is the difference between an ADR and an ADS?

While the terms are often used interchangeably, there is a distinction:

  • ADR (American Depositary Receipt) is the physical certificate that represents ownership.
  • ADS (American Depositary Share) refers to the actual underlying shares of the foreign company that the ADR represents.

In simple terms, an ADR is the receipt for one or more ADSs.