Tiziana Life Sciences plc Change to ADS Ratio
NEW YORK and LONDON, July 15, 2020 (GLOBE NEWSWIRE) -- Tiziana Life Sciences Plc ("Tiziana", AIM: TILS, NASDAQ: TLSA), announces a ratio change to its sponsored Level 3 American Depositary Receipt ("ADR") programme.
This corporate action, which is a 2.5 for 1 forward split for the purposes of the NASDAQ listing, is equivalent to a share sub-division in the UK and will have the effect of increasing the number of ADSs in issue. It has no effect on the number of underlying shares in issue or the nominal value of the ordinary shares.
The former ratio of five (5) ordinary shares to one (1) American Depositary Share ("ADS") has been changed to two (2) ordinary shares per one (1) ADS effective on 31 July 2020. There will be no change to the underlying ordinary shares.
|ADR record date:||27 July 2020|
|ADR payment date:||30 July 2020|
|ADR effective date:||31 July 2020|
|Old Ratio:||1 ADR: 5 ordinary shares|
|New Ratio:||1 ADR: 2 ordinary shares|
|Country of incorporation:||United Kingdom|
|Depositary:||J.P. Morgan Chase Bank, N.A.|
|Custodian:||J.P. Morgan Chase Bank, London|
To effect this change, ADR holders will receive 2.5 additional ADRs for every one (1) ADR held as of 27 July 2020, the ADR record date. Existing ADRs will continue to be valid and will not have to be exchanged for new ADRs. In connection with this change, the register held by JPMorgan has been closed for issuances and cancellations from the close of business 27 July 2020 and will reopen on 04 August 2020.
For further information, please contact:
JPMorgan Service Centre ADR Settlements
001 800-990-1135 or 001 302-552-0230
About Tiziana Life Sciences
Tiziana Life Sciences plc is a dual listed (NASDAQ: TLSA & UK AIMS: TILS) biotechnology company that focuses on the discovery and development of novel molecules to treat human diseases in oncology, inflammation and infectious diseases. In addition to milciclib, the Company will be shortly initiating phase 2 studies with orally administered foralumab for Crohn's Disease and nasally administered foralumab for progressive multiple sclerosis. Foralumab is the only fully human anti-CD3 monoclonal antibody (mAb) in clinical development in the world. This phase II compound has potential application in a wide range of autoimmune and inflammatory diseases, such as Crohn's Disease, multiple sclerosis, type-1 diabetes (T1D), inflammatory bowel disease (IBD), psoriasis and rheumatoid arthritis, where modulation of a T-cell response is desirable. The company is accelerating development of anti-Interleukin 6 receptor (IL6R) mAb, a fully human monoclonal antibody for treatment of IL6-induced inflammation, especially for treatment of COVID-19 patients.
For further enquiries:
|Tiziana Life Sciences plc
Gabriele Cerrone, Chairman and founder
|+44 (0)20 7495 2379|
Cairn Financial Advisers LLP (Nominated adviser)
Liam Murray / Jo Turner
+44 (0)20 7213 0880
Optiva Securities Limited (Broker)
+ 44 (0)20 3981 4173