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:5/26/2016)... ... 26, 2016 , ... After several promising treatments in Panama ... City of Knowledge in Panama, a 6 year-old Duchenne’s muscular dystrophy patient received ... year following FDA approval of a second application for a single patient, investigational ...
(Date:5/25/2016)... Portland, Oregon (PRWEB) , ... May 25, 2016 ... ... Base Set features a variety of fracture-specific plating options designed to address fractures ... provide industry-leading fracture fixation solutions. , The Acumed Ankle Plating System 3 is ...
(Date:5/25/2016)... ... May 25, 2016 , ... Lady had been battling arthritis since ... ligament in her left knee. Lady’s owner Hannah sought the help of Dr Jeff ... surgeon, to repair her cruciate ligament and help with the pain of Lady’s arthritis. ...
(Date:5/24/2016)... ... May 24, 2016 , ... ... identity. The new Media Cybernetics corporate branding reflects a results-driven revitalization for a ... image analysis. The re-branding components include a crisp, refreshed logo and a new ...
Breaking Biology Technology:
(Date:4/26/2016)... , April 27, 2016 ... the  "Global Multi-modal Biometrics Market 2016-2020"  report to ... ) , The analysts forecast the ... CAGR of 15.49% during the period 2016-2020.  ... number of sectors such as the healthcare, BFSI, ...
(Date:4/14/2016)... 14, 2016 BioCatch ™, ... today announced the appointment of Eyal Goldwerger ... Goldwerger,s leadership appointment comes at a time ... the deployment of its platform at several of the ... which discerns unique cognitive and physiological factors, is a ...
(Date:3/29/2016)... 29, 2016 LegacyXChange, Inc. (OTC: ... and SelectaDNA/CSI Protect are pleased to announce our successful ... a variety of writing instruments, ensuring athletes signatures against ... collectibles from athletes on LegacyXChange will be assured of ... DNA. Bill Bollander , CEO states, ...
Breaking Biology News(10 mins):