Endesa Sa - Report of Foreign Issuer (6-K)
17 November 2007 - 1:03AM
Edgar (US Regulatory)
FORM
6-K
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Report
of Foreign Issuer
Pursuant
to Rule 13a-16 or 15d-16 of
the
Securities Exchange Act of 1934
For
the
month of November, 2007
Commission
File Number: 333-07654
ENDESA,
S.A.
(Translation
of Registrant's Name into English)
Ribera
del Loira, 60
28042
Madrid, Spain
(Address
of principal executive office)
Indicate
by check mark whether the registrant files or will file
annual
reports under cover of Form 20-F or Form 40-F:
Indicate
by check mark if the registrant is submitting the Form 6-K
in
paper
as permitted by Regulation S-T Rule 101(b)(1):
Indicate
by check mark if the registrant is submitting the Form 6-K
in
paper
as permitted by Regulation S-T Rule 101(b)(7):
Indicate
by check mark whether by furnishing the information
contained
in this Form, the Registrant is also thereby furnishing the information to
the
Commission
pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934:
If
“Yes”
is marked, indicate below the file number assigned to the registrant
in
connection with Rule 12g3-2(b):
N/A
Endesa
(NYSE:ELE) to delist from New York Stock Exchange
As
a
consequence of the successful completion of the takeover bid made by Acciona
and
Enel for 100% of Endesa’s shares, the company’s free float has decreased to less
than a 8%. Of that free float, the company’s shares represented by American
Depositary Receipts listed on the New York Stock Exchange represent less
than
0.3% of the company’s shares. In addition, the trading volume on the New York
Stock Exchange during the last 12 months represents less than 1% of the total
trading volume during such period on all the stock exchanges on which Endesa
is
listed.
Due
to the
low liquidity of the ADRs and the expenses associated with being a listed
and
registered company in the United States, Endesa’s Board of Directors, at its
November 14, 2007 meeting, agreed to delist the ADRs from the New York Stock
Exchange and deregister under the U.S. Securities Exchange Act of 1934,
following completion of all necessary legal steps. Endesa has separately
provided written notice to the NYSE of its intention to delist. Endesa expects
that the last day of trading of the ADRs on the NYSE will be December 5,
2007.
Endesa’s
shares will continue to trade on the Automated Quotation System of the Spanish
stock exchanges and all of the Spanish stock exchanges, and the company will
continue to be subject to Spanish reporting and corporate governance
requirements. Endesa believes that the Spanish stock exchanges offer an
attractive framework for investors. In addition, Endesa believes that the
adoption by it of International Financial Reporting Standards provides investors
with a high standard of financial information. Endesa believes that this
together is sufficient to satisfy investors expectations.
Endesa
is
also terminating its American Depositary Receipt facility, which will take
effect following the applicable notice period under the related deposit
agreement. During the period following delisting and pending such termination,
the ADRs will trade in the over-the-counter market. The company has not arranged
for the listing of its ADSs or ordinary shares on another national exchange
in
the United States or for the quotation of its ADSs or ordinary shares in
a
quotation medium in the United States.
Endesa
will cover the fees payable by ADR holders under the deposit agreement upon
their surrender of ADRs in exchange for ordinary shares following termination
of
the ADR facility.
Endesa
will continue making available to investors, through its corporate website
(
www.endesa.es
), material financial information, press releases and other
documents in English.
November
16, 2007
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
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ENDESA,
S.A.
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|
|
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Dated: November
16, 2007
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By:
/s/ Álvaro Pérez de Lema
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|
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Name:
Álvaro Pérez de Lema
|
|
|
Title:
Manager of North America Investor
Relations
|
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