Anyone know what is happening to Team Nation Holding (TEMN)?
NEW YORK, April 29, 2013 /PRNewswire/ — BNY Mellon, the global leader in investment management and investment services, has been appointed by Temenos Group AG as the depositary bank for its American depositary receipt (ADR) program. Each Temenos ADR represents one ordinary share and trades over-the-counter under the symbol “TMSNY.” Temenos’ ordinary shares trade on the Swiss Stock Exchange under the symbol “TEMN.”
- Will all shareholders of “TEMN” lose all their investment? or
- does it means they are changing TEMN to something else?
You are confusing tickers on different exchanges. The ADR listing of the company with Swiss ticker TEMN.SW is completely unrelated to the TEMN traded in the US.
TEMN = Team Nation, sub-penny nothing stock.
TEMN.SW = Temenos, a legitimate banking software company that will now trade in the US as an ADR in addition to trading on the Swiss exchange.
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