XTL Biopharmaceuticals (XTLB) announced that it plans to change the ratio of its American depositary shares to its ordinary shares, par value NIS 0.1 per share, from the current ADS Ratio of one ADS to one hundred 100 ordinary shares, to a new ADS Ratio of one ADS to 400 ordinary shares. The company anticipates that the ADS ratio change will be effective on March 25. For the company’s ADS holders, the change in the ADS Ratio will have the same effect as a one-for-four reverse ADS split.
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