XTL Biopharmaceuticals Ltd
13 May 2005
XTLbio Files Registration Statement for Level 2 ADR Listing on NASDAQ
Rehovot, Israel, 13 May 2005 - The Board of Directors of XTL Biopharmaceuticals
Ltd (the 'Company') (LSE: XTL) announces that it has filed a draft registration
statement on Form 20-F (the 'Draft Registration Statement') with the U.S.
Securities Exchange Commission ('SEC') in connection with the Company's proposed
Level II listing of American Depository Receipts ('ADRs') representing its
ordinary shares on the NASDAQ Stock Market. The Company will provide further
details as to the date when trading in the ADRs is expected to commence once
such details are known. The Company is not conducting an offering in connection
with the listing.
In a Level II ADR listing, the ADR's are listed on a U.S. stock exchange or
interdealer quotation system and the company is regarded as a foreign registrant
by the SEC. The Company will need to comply with additional disclosure,
reporting and accounting requirements and be compliant with U.S. securities law,
including certain provisions of the Sarbanes-Oxley Act.
The Draft Registration Statement may be accessed from the SEC's website, located
The Company has not received approval from the SEC for the listing of its ADRs
on the Nasdaq Stock Market, and can give no assurance that such approval will be
granted or if granted, the timing of initial trading in the ADRs. This
announcement is neither an offer to sell nor a solicitation of an offer to buy
any securities including any ADRs.
Jonathan Burgin, Chief Financial Officer Tel: +972 8 930 4440
Julia Phillips / Sarah MacLeod Tel: +44 (0) 20 7831 3113
Notes to Editors
XTL Biopharmaceuticals Ltd. (XTLbio) is a biopharmaceutical company developing
drugs against hepatitis. Established in 1993, XTLbio became a public company in
2000 and its ordinary shares are listed on the Official List of the UK Listing
Authority and are traded on the London Stock Exchange under the symbol XTL.
This information is provided by RNS
The company news service from the London Stock Exchange