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Stock impact report

RedHill Biopharma Announces Plan to Implement ADS Ratio Change

Redhill Biopharma Ltd. - American Depositary Shares (RDHL) 
US:NASDAQ Investor Relations: ir.redhillbio.com/investor-relations
Company Research Source: PR Newswire
TEL AVIV, Israel and RALEIGH, NC, March 16, 2023 /PRNewswire/ -- RedHill Biopharma Ltd. (Nasdaq: RDHL) ("RedHill" or the "Company"), a specialty biopharmaceutical company, today announced that it plans to implement a ratio change of the Company's American Depositary Shares (ADSs) to its non-traded ordinary shares from the current ratio of one (1) ADS representing ten (10) ordinary shares to a new ratio of one (1) ADS representing four hundred (400) ordinary shares. The anticipated first date of the ratio change is on or about March 23, 2023, and the Company's ADSs will continue to be traded on the Nasdaq Global Market ("Nasdaq") under the symbol "RDHL" with a new CUSIP Number 757468202.For ADS holders, the ratio change will have the same effect as a one-for-forty reverse ADS split. No new ADSs will be issued in connection with the change in the ADS ratio. ADS holders will not be required to take any action and, on the effective date, the Bank of New York Mellon, the depositary bank fo Show less Read more
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