SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
June 21, 2005
Commission File Number 1-12752
Glassworks of Chile
(Translation of registrant's name into English)
Hendaya 60
Las Condes
Santiago, Chile
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F [X] 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 whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes [ ] No [X]
FOR IMMEDIATE RELEASE
[Company Logo]
NYSE: CGW
Santiago: CRISTALES
www.cristalchile.com
CONTACT IN SANTIAGO:
Ricardo Dunner S.
Head of Investor Relations
PH: (562) 787-8855
FAX: (562) 787-8800
EMAIL: ir@cristalchile.cl
CRISTALERIAS DE CHILE ANNOUNCES THE TERMINATION
OF ITS AMERICAN DEPOSITARY SHARE ("ADS")
PROGRAM IN THE U.S. AND THE SUSPENSION OF TRADING
OF ITS ADSs FROM THE NEW YORK STOCK EXCHANGE
Santiago, Chile (June 21, 2005) - Cristalerias de Chile S.A., a Chilean
conglomerate and the largest producer of glass containers in Chile (the
"Company"), today announced the following:
On June 21, 2005, the Bank of New York, at the Company's instruction, terminated
the Company's American Depositary Share ("ADS") program and, as a result, the
New York Stock Exchange ("NYSE") suspended trading of its ADSs. The Company
intends, when permitted by applicable U.S. Securities and Exchange Commission
("SEC") regulations, to terminate the SEC registration of its ADSs and the
common shares underlying its ADSs.
The Company's strategy to terminate the ADS program and to deregister from the
SEC is due to a significant decrease over the last several years in: (i) the
number of Company shares trading on the NYSE relative to the total number of
outstanding Company shares; and (ii) the number of U.S. holders of its ADSs and
common shares (currently, there are fewer than 300 U.S. holders of the Company's
ADSs and common shares). The Company intends to remain listed on the Chilean
stock exchanges.
The Company cannot provide any assurance that it will successfully deregister
its securities with the SEC. The Company will continue to comply with SEC
requirements unless and until its securities are deregistered. After such
deregistration, and for so long as the Company remains deregistered, the Company
will not be subject to SEC requirements and will no longer file reports with the
SEC.
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This release may contain certain forward-looking statements (as that term is
used in U.S. securities laws) regarding anticipated results of operations,
financial condition, business operations or strategy of Cristalerias de Chile or
its consolidated subsidiaries. Forward-looking statements may be identified by
the use of words such as "anticipates," "believes," "expects," "predicts,"
"intends," "estimates," "should" or "may" or similar expressions relating to
statements that are not of historical facts. Such forward-looking statements are
believed to be reasonable, but are not guarantees of future performance. Actual
results could vary from our objectives or expectations due to many factors
including, among others, changes in consumer beverage preferences, new
technologies, a downturn in the Chilean wine industry, significant disruption of
the Chilean media market, the macroeconomic performance of Chile and the
behavior of Latin American markets more generally.
SIGNATURE
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.
GLASSWORKS OF CHILE
(Registrant)
By: /s/ Benito Bustamante C.
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Benito Bustamante C.
Controller
Date: June 21, 2005