Depositary

PHAXIAM Therapeutics announces effectiveness of voluntary delisting of American Depositary Shares from Nasdaq Stock Market

Retrieved on: 
Monday, March 11, 2024

Lyon (France) and Cambridge (MA, US), March 11, 2024, at 07:00am CET – PHAXIAM Therapeutics (Nasdaq & Euronext: PHXM), a biopharmaceutical company developing innovative treatments for severe and resistant bacterial infections, today announces that the Company’s voluntary delisting of American Depositary Shares (“ADSs”) representing its ordinary shares from The Nasdaq Capital Market (“Nasdaq”) has become effective.

Key Points: 
  • Lyon (France) and Cambridge (MA, US), March 11, 2024, at 07:00am CET – PHAXIAM Therapeutics (Nasdaq & Euronext: PHXM), a biopharmaceutical company developing innovative treatments for severe and resistant bacterial infections, today announces that the Company’s voluntary delisting of American Depositary Shares (“ADSs”) representing its ordinary shares from The Nasdaq Capital Market (“Nasdaq”) has become effective.
  • The Bank of New York Mellon serves as depositary (the “Depositary”) for the Company’s ADS facility.
  • On or about May 28, 2024, the Depositary may elect to sell the underlying ordinary shares.
  • Investors will receive either the underlying ordinary shares (if those have not yet been sold by the Depositary) or the cash received by the Depositary received upon sale of underlying ordinary shares, net of fees, if those underlying ordinary shares were sold.

PHAXIAM Therapeutics announces intention to voluntary delist American Depositary Shares from The Nasdaq Capital Market

Retrieved on: 
Tuesday, February 20, 2024

The Company listed the ADSs on The Nasdaq Global Select Market in November 2017 under the ticker ERYP, and subsequently transferred the listing of its ADSs to The Nasdaq Capital Market in April 2023.

Key Points: 
  • The Company listed the ADSs on The Nasdaq Global Select Market in November 2017 under the ticker ERYP, and subsequently transferred the listing of its ADSs to The Nasdaq Capital Market in April 2023.
  • “Given PHAXIAM’s current stage of development, we have determined that delisting from the Nasdaq market was the wisest business and financial decision for the company.
  • PHAXIAM Therapeutics remains listed on Euronext Paris as its primary trading market and intends to continue its disclosures in compliance with applicable French financial market regulations.
  • Investors will receive either the underlying ordinary shares (if those have not yet been sold by the Depositary) or the cash received by the Depositary received upon sale of underlying ordinary shares, net of fees, if those underlying ordinary shares were sold.

Trinity Biotech Plc Announces Plan to Implement ADS Ratio Change

Retrieved on: 
Tuesday, February 13, 2024

(NASDAQ: TRIB) (the “Company”) today announced that it plans to change the ratio of the American depositary shares (“ADSs”) representing its Class A ordinary shares from one (1) ADS representing four (4) Class A ordinary share to one (1) ADS representing twenty (20) Class A ordinary shares.

Key Points: 
  • (NASDAQ: TRIB) (the “Company”) today announced that it plans to change the ratio of the American depositary shares (“ADSs”) representing its Class A ordinary shares from one (1) ADS representing four (4) Class A ordinary share to one (1) ADS representing twenty (20) Class A ordinary shares.
  • For Trinity Biotech Plc ADS holders, the change in the ADS ratio will have the same effect as a one-for-five reverse ADS split and is intended to i) enable the Company to regain compliance with the $1.00 Nasdaq minimum bid price requirement, and ii) facilitate investment from a broader pool of potential investors, who may have previously been unable to invest due to the ADSs trading below a price of $1.00.
  • No fractional new ADSs will be issued in connection with the change in the ADS ratio.
  • As a result of the change in the ADS ratio, the ADS price is expected to increase proportionally, although the Company can give no assurance that the ADS price after the change in the ADS ratio will be equal to or greater than five times the ADS price before the change.

Ambow Education Announces Plan to Implement ADS Ratio Change

Retrieved on: 
Monday, January 29, 2024

CUPERTINO, Calif., Jan. 29, 2024 /PRNewswire/ -- Ambow Education Holding Ltd. (NYSE American: AMBO) ("Ambow" or the "Company"), an AI technology-driven educational company, today announced its plan to change the ratio of its American depositary shares ("ADSs") to its Class A ordinary shares from one (1) ADS, representing two (2) Class A ordinary shares, to one (1) ADS representing twenty (20) Class A ordinary shares (the "ADS Ratio Change").

Key Points: 
  • CUPERTINO, Calif., Jan. 29, 2024 /PRNewswire/ -- Ambow Education Holding Ltd. (NYSE American: AMBO) ("Ambow" or the "Company"), an AI technology-driven educational company, today announced its plan to change the ratio of its American depositary shares ("ADSs") to its Class A ordinary shares from one (1) ADS, representing two (2) Class A ordinary shares, to one (1) ADS representing twenty (20) Class A ordinary shares (the "ADS Ratio Change").
  • The ADS Ratio Change will have the same effect as a one-for-10 reverse ADS split for ADS holders.
  • The ADS Ratio Change will have no impact on the Company's underlying Class A ordinary shares, and no Class A ordinary shares will be issued or canceled in connection with the ADS Ratio Change.
  • The Company can give no assurance that the ADS price after the ADS Ratio Change will be proportionally equal to or greater than the previous ADS price prior to the change.

Evaxion Announces Plan to Implement ADS Ratio Change

Retrieved on: 
Monday, January 8, 2024

COPENHAGEN, Denmark, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Evaxion Biotech A/S (NASDAQ: EVAX) (“Evaxion” or the “Company”), a clinical-stage TechBio company specializing in developing AI-Immunology™ powered vaccines, today announced that it plans to change the ratio of its American Depositary Shares (“ADSs”) to its ordinary shares, DKK 1 nominal value (the “ADS Ratio”), from the current one (1) ADS representing one (1) ordinary share to a new ADS Ratio of one (1) ADS representing ten (10) ordinary shares (the “ADS Ratio Change”).

Key Points: 
  • COPENHAGEN, Denmark, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Evaxion Biotech A/S (NASDAQ: EVAX) (“Evaxion” or the “Company”), a clinical-stage TechBio company specializing in developing AI-Immunology™ powered vaccines, today announced that it plans to change the ratio of its American Depositary Shares (“ADSs”) to its ordinary shares, DKK 1 nominal value (the “ADS Ratio”), from the current one (1) ADS representing one (1) ordinary share to a new ADS Ratio of one (1) ADS representing ten (10) ordinary shares (the “ADS Ratio Change”).
  • The ADS Ratio Change is expected to become effective on or about January 22, 2024, U.S. Eastern Time (the “Effective Date”).
  • For the Company’s ADS holders, the change in the ADS Ratio will have the same effect as a one-for-ten reverse ADS split and is intended to further support the liquidity in the Company’s ADSs and to enable the Company to regain compliance with the Nasdaq minimum bid price requirement.
  • As a result of the ADS Ratio Change, the ADS trading price is expected to increase proportionally, although the Company can give no assurance that the ADS trading price after the ADS Ratio Change will be proportionally equal to or greater than the previous ADS trading price prior to the change or that the Ratio Change will have any effect on the liquidity in the Company’s ADSs.

Chindata Group Announces Completion of Going Private Transaction

Retrieved on: 
Tuesday, December 19, 2023

As a result of the Merger, the Company ceased to be a publicly traded company and became a wholly owned subsidiary of Parent.

Key Points: 
  • As a result of the Merger, the Company ceased to be a publicly traded company and became a wholly owned subsidiary of Parent.
  • Record holders of Shares and ADSs should wait to receive the letters of transmittal before surrendering their Shares or ADSs.
  • The Company also announced today that it has requested that trading of its ADSs on the Nasdaq Global Select Market (“Nasdaq”) be suspended as of December 18, 2023 (New York time).
  • The deregistration will become effective 90 days after the filing of the Form 25 or such shorter period as may be determined by the SEC.

FLJ Group Limited Announces Plan to Implement ADS Ratio Change

Retrieved on: 
Friday, December 1, 2023

SHANGHAI, China, Dec. 01, 2023 (GLOBE NEWSWIRE) -- FLJ Group Limited (NASDAQ: FLJ) (the “Company”) today announced that it plans to change the ratio of the American depositary shares (“ADSs”) representing its Class A ordinary shares from one (1) ADS representing fifteen thousand (15,000) Class A ordinary share to one (1) ADS representing six hundred thousand (600,000) Class A ordinary shares.

Key Points: 
  • SHANGHAI, China, Dec. 01, 2023 (GLOBE NEWSWIRE) -- FLJ Group Limited (NASDAQ: FLJ) (the “Company”) today announced that it plans to change the ratio of the American depositary shares (“ADSs”) representing its Class A ordinary shares from one (1) ADS representing fifteen thousand (15,000) Class A ordinary share to one (1) ADS representing six hundred thousand (600,000) Class A ordinary shares.
  • For the ADS holders, the change in the ADS ratio will have the same effect as a one-for-forty reverse ADS split.
  • The ADSs will continue to be traded on Nasdaq Global Market under the symbol “FLJ.”
    No fractional new ADSs will be issued in connection with the change in the ADS ratio.
  • As a result of the change in the ADS ratio, the ADS price is expected to increase proportionally, although the Company can give no assurance that the ADS price after the change in the ADS ratio will be equal to or greater than forty times the ADS price before the change.

BBX Capital, Inc. Announces Final Results of Tender Offer

Retrieved on: 
Wednesday, December 27, 2023

In accordance with the terms and conditions of the tender offer, including BBX Capital’s right to accept the tender of additional shares up to an amount equal to two percent of the outstanding shares of BBX Capital’s Class A Common Stock outstanding upon the commencement of the tender offer, BBX Capital will purchase 726,043 shares in the tender offer.

Key Points: 
  • In accordance with the terms and conditions of the tender offer, including BBX Capital’s right to accept the tender of additional shares up to an amount equal to two percent of the outstanding shares of BBX Capital’s Class A Common Stock outstanding upon the commencement of the tender offer, BBX Capital will purchase 726,043 shares in the tender offer.
  • Because more than 726,043 shares were tendered in the tender offer, BBX Capital will purchase the 726,043 shares from tendering shareholders on a pro rata basis in accordance with the terms and conditions of the tender offer.
  • The aggregate price for the shares to be purchased in the tender offer is approximately $5.8 million, excluding fees and expenses relating to the tender offer.
  • Shareholders who have questions or would like additional information about the tender offer may contact the Information Agent for the tender offer, MacKenzie Partners, Inc., toll-free at (800) 322-2885.

BBX Capital, Inc. Announces Preliminary Results of Tender Offer

Retrieved on: 
Thursday, December 21, 2023

Based on the preliminary count by Equiniti Trust Company, LLC, the Depositary for the tender offer, a total of 737,134 shares of BBX Capital’s Class A Common Stock were properly tendered and not withdrawn.

Key Points: 
  • Based on the preliminary count by Equiniti Trust Company, LLC, the Depositary for the tender offer, a total of 737,134 shares of BBX Capital’s Class A Common Stock were properly tendered and not withdrawn.
  • In accordance with the terms and conditions of the tender offer, including the Company’s right to accept the tender of additional shares up to an amount equal to two percent of the outstanding shares of the Company’s Class A Common Stock outstanding upon the commencement of the tender offer, the Company will purchase 726,043 shares in the tender offer.
  • It is expected that the final results of the tender offer will be announced and payment for shares accepted in the tender offer will commence by Wednesday, December 27, 2023.
  • Shareholders who have questions or would like additional information about the tender offer may contact the Information Agent for the tender offer, MacKenzie Partners, Inc., toll-free at (800) 322-2885.

Banco Itaú Chile Announces Termination of American Depositary Shares Program

Retrieved on: 
Thursday, November 9, 2023

SANTIAGO, Chile, Nov. 09, 2023 (GLOBE NEWSWIRE) -- BANCO ITAÚ CHILE (NYSE: ITCL; SSE: ITAUCL) (the “Company”) today announces that The Bank of New York Mellon, as depositary (the “Depositary”) issued, on November 8, 2023, a notice (the “Termination Notice”) to the holders of American Depositary Shares (the “ADSs”) representing common shares of the Company terminating the American Depository Receipt program (the “ADR Program”) according to the requirements under the Amended and Restated Deposit Agreement dated as of June 11, 2018 (the “Deposit Agreement”) among the Company, the Depositary, and owners and holders from time to time of ADSs issued thereunder.

Key Points: 
  • SANTIAGO, Chile, Nov. 09, 2023 (GLOBE NEWSWIRE) -- BANCO ITAÚ CHILE (NYSE: ITCL; SSE: ITAUCL) (the “Company”) today announces that The Bank of New York Mellon, as depositary (the “Depositary”) issued, on November 8, 2023, a notice (the “Termination Notice”) to the holders of American Depositary Shares (the “ADSs”) representing common shares of the Company terminating the American Depository Receipt program (the “ADR Program”) according to the requirements under the Amended and Restated Deposit Agreement dated as of June 11, 2018 (the “Deposit Agreement”) among the Company, the Depositary, and owners and holders from time to time of ADSs issued thereunder.
  • The ADR Program and the Deposit Agreement will be terminated on February 5, 2024 (the “Termination Date”).
  • The Termination Notice, a copy of which is included as an Annex to this press release, describes instructions to be followed by holders of ADSs in connection with the termination of the ADR Program and of the Deposit Agreement.