Navigation Links
Pharmaxis to Voluntarily De-List from Nasdaq
Date:7/12/2009

SYDNEY, July 12 /PRNewswire-Asia/ -- Pharmaxis (ASX: PXS; Nasdaq: PXSL) today announced a decision to voluntarily de-list from the Nasdaq Global Market ("Nasdaq").

Pharmaxis has recently completed a review of the demand from existing and potential international investors for the secondary listing of its American Depositary Shares ("ADS's") on Nasdaq and the volume of Pharmaxis ADS trading in the secondary Nasdaq market. The review concluded that the benefits of the Nasdaq listing could no longer justify the related ongoing costs.

Pharmaxis will file a Form 25 with the SEC on 23 July 2009 to commence the Nasdaq delisting process. It is expected that the de-listing will take effect at the close of trading of Nasdaq on 3 August 2009. Pharmaxis will then file a Form 15F with the U.S. Securities and Exchange Commission ("SEC") to terminate its registration and to suspend its reporting obligations under the Securities Exchange Act of 1934.

The Company's primary listing on the Australian Securities Exchange will continue without change. While the Company's securities will not be listed on any exchange in the United States after the deregistration process is complete, Pharmaxis intends to retain its Level 1 ADS program. Pharmaxis ADS will therefore continue to trade in the U.S. "over the counter" market. There are no costs associated with retaining the Level 1 ADS program.

All ADS holders will shortly receive a formal notice advising them of the change in the program and providing instructions on how to proceed. The anticipated timetable for the de-listing from NASDAQ and downgrade of the ADS program is set out as follows (New York time):

     3 August 2009 - Termination of NASDAQ listing and change of ADS program
     3 August 2009 - Registration with the SEC suspended
     21 October 2009 - Deregistration with the SEC effective

    CONTACT:

     David McGarvey
     Chief Financial Officer
     Tel:  +61-2-9454-7200
     Email david.mcgarvey@pharmaxis.com.au

    RELEASED THROUGH:

     Australia:
     Felicity Moffatt
     Tel:   +61-418-677-701
     Email: felicity.moffatt@pharmaxis.com.au

     United States:
     Brandon Lewis
     Trout Group
     Tel:   +1-646-378-2915
     Email: blewis@troutgroup.com

'/>"/>
SOURCE Pharmaxis Ltd
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Phase III Trial Finds Pharmaxis Bronchitol Effective
2. Pharmaxis Announces Placement of $50 Million and Share Purchase Plan
3. Pharmaxis Closes Share Purchase Plan
4. Pharmaxis Appoints Portuguese Distributor for Aridol
5. Pharmaxis Aridol Gains First Asian Approval
6. Pharmaxis Investor Conference Call
7. Pharmaxis to Apply to Market Bronchitol in Australia
8. Pharmaxis First Steps into China
9. Pharmaxis Aridol Authorised for Sale in Germany
10. New Pharmaxis Board Appointment
11. Pharmaxis Research Programs Highlighted at European Respiratory Society Congress
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/12/2017)... ... October 12, 2017 , ... AMRI, a global ... industries to improve patient outcomes and quality of life, will now be offering ... being attributed to new regulatory requirements for all new drug products, including the ...
(Date:10/11/2017)... N.C. (PRWEB) , ... October 11, 2017 , ... ... ARCS® Foundation President Andi Purple announced Dr. Suneel I. Sheikh, the co-founder, ... ( ASTER Labs ), Inc. has been selected for membership in ARCS ...
(Date:10/11/2017)... ... ... eye wash is a basic first aid supply for any work environment, but most personal ... rinse first if a dangerous substance enters both eyes? It’s one less decision, and likely ... dual eye piece. , “Whether its dirt and debris, or an acid or alkali, getting ...
(Date:10/11/2017)... (PRWEB) , ... October 11, 2017 , ... ... pathology, announced today it will be hosting a Webinar titled, “Pathology is going ... Pathology Associates , on digital pathology adoption best practices and how Proscia improves ...
Breaking Biology Technology:
(Date:8/23/2017)... ARMONK, N.Y. , Aug. 23, 2017  The general public,s help ... the human microbiome—the bacteria that live in and on the human body ... ... bacteria in the human microbiome, starting with the gut. The project's goal ... in disease. Photo credit: IBM ...
(Date:6/14/2017)... IBM ) is introducing several innovative partner startups at ... between startups and global businesses, taking place in ... startups will showcase the solutions they have built with IBM ... France is one of the most ... increase in the number of startups created between 2012 and ...
(Date:4/24/2017)... 2017 Janice Kephart , former ... Strategy Partners, LLP (IdSP) , today issues the ... Trump,s March 6, 2017 Executive Order: Protecting ... can be instilled with greater confidence, enabling the ... refugee applications are suspended by until at least ...
Breaking Biology News(10 mins):