most likely it means the company needs to make an offer, which might explain the recent rise in price, as much as the realization that the shipping sector and those which have weathered the oversupply storm and the effects of the european recession have most likely, finally, put in a bottom.
so, while the ADRs are nothing more nor less than another form of ownership in the company, in shutting down their listing on the nasdaq the idea is to safe headaches of filings and various other regulatory expenses.
it might also be a way for the european shareholders to reassert control over the direction of the stock.
though on that pt i have nothing more than pure speculation, since i honestly do not know and have not investigated how closely the adr tracks the copenhagen price.
I just did a lil bit of digging. It says that the shareholders have authorized the company (after a request by the company during a general meeting) to delist from the nasdaq and acquire the ADR shares by the end of 2015. I am not sure if they are actually obligated to acquire the shares and delist or if they simply have permission to do so in that time period. I would think that if the this share price stays up and we see continued buying then it would not be in the best interest of the company to delist since there would be plenty of stock value coming back their way. And I think it actually said they will just pay about the price of the shares...not like a buyout works or anything. Also, I found that the ADR shares represent less than one percent of the company's stock value so I doubt we americans really affect it that much over there. So idk....that is my best interpretation of what I read but I'm certainly no expert on the subject