XTL Announces Delisting From the Official List of the United Kingdom Listing Authority
October 31 2007 - 6:43AM
PR Newswire (US)
Processing Fees on Transfer of Ordinary Shares Into ADRs to be
Waived for an Additional Month VALLEY COTTAGE, New York, October 31
/PRNewswire-FirstCall/ -- XTL Biopharmaceuticals Ltd.
(NASDAQ:XTLB)(TASE:XTL) today announced that the Company's ordinary
shares have been delisted from the Official List of the United
Kingdom Listing Authority, pursuant to the October 2, 2007 vote at
the Company's Extraordinary General Meeting. With the cancellation
of the listing on the London Stock Exchange, shareholders may
deposit their ordinary shares with the Company's depositary bank,
The Bank of New York, in exchange for American Depositary Receipts,
or ADRs, which are traded on NASDAQ, or trade their ordinary shares
on the TASE. XTL Biopharmaceuticals Ltd. has further announced that
issuances of ADRs by The Bank of New York will be processed free of
the customary charges of The Bank of New York for an additional
month, through November 30, 2007. The Bank of New York will issue
ADRs representing American Depositary Shares, or ADSs, if
shareholders or their broker deposit Ordinary Shares with The Bank
of New York's Custodian, either the Tel Aviv office of Bank
Hapoalim B.M., or the London office of The Bank of New York. One
ADR will represent an ownership interest in ten of the Company's
Ordinary Shares. Interested investors should contact their brokers
to discuss the waived fee and, should they have any questions, can
contact The Bank of New York in either London or New York as
follows: London: Mark Lewis, Vice President, Tel
+44(0)20-7964-6089, Fax +44(0)20-7964-6024, New York: Jason
Paltrowitz, Vice President, Tel +1-212-815-2077, Fax
+1-212-815-3004, About XTL Biopharmaceuticals Ltd. XTL
Biopharmaceuticals Ltd. ("XTL") is engaged in the development of
therapeutics for the treatment of neuropathic pain and hepatitis C.
XTL is developing Bicifadine, a serotonin and norepinephrine
reuptake inhibitor, for the treatment of diabetic neuropathic pain.
XTL is also developing several novel pre-clinical hepatitis C small
molecule inhibitors. XTL also has an active in-licensing and
acquisition program designed to identify and acquire additional
drug candidates. XTL is publicly traded on the NASDAQ and Tel-Aviv
Stock Exchanges (NASDAQ:XTLB)(TASE:XTL). Cautionary Statement Some
of the statements included in this press release, particularly
those anticipating continued undisrupted trading of the Company's
ADRs on NASDAQ and similar matters, may be forward-looking
statements that involve a number of risks and uncertainties. For
those statements, we claim the protection of the safe harbor for
forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995. Risk factors that could adversely
affect our operations are identified from time to time in our
reports filed with the Securities and Exchange Commission,
including our annual report on Form 20-F filed with the Securities
and Exchange Commission on March 23, 2007. Any forward-looking
statements set forth in this press release speak only as of the
date of this press release. We do not intend to update any of these
forward-looking statements to reflect events or circumstances that
occur after the date hereof. This press release and prior releases
are available at http://www.xtlbio.com/. The information in our
website is not incorporated by reference into this press release
and is included as an inactive textual reference only. This press
release is for informational purposes only and is not an offer to
by or the solicitation of an offer to sell any securities. Contact:
Ron Bentsur, Chief Executive Officer Tel: +1-845-267-0707 ext. 225
DATASOURCE: XTL Biopharmaceuticals Ltd CONTACT: Ron Bentsur, Chief
Executive Officer, Tel: +1-845-267-0707 ext. 225
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