Tiziana Life Sciences plc - Distribution Dates for shares and ADRs in Accustem Sciences Limited
Tiziana Life Sciences plc (Nasdaq: TLSA) announced that the SEC has declared effective the Forms 20-F and F-6 filed by Accustem Sciences Limited, allowing the completion of the spin-off of Accustem. Key dates include the demerger record time on October 30, 2020, and the issuance of Accustem shares to Tiziana shareholders starting July 8, 2021. Existing Tiziana DRs will remain valid without requiring exchange for new DRs.
- SEC approval enables successful spin-off of Accustem Sciences Limited.
- Tiziana shareholders to receive Accustem shares at no additional cost.
- No immediate financial metrics provided to assess impact of spin-off.
LONDON and NEW YORK, July 02, 2021 (GLOBE NEWSWIRE) -- Tiziana Life Sciences plc (Nasdaq: TLSA / AIM: TILS) ("Tiziana" or the "Company"), a biotechnology company focused on innovative therapeutics for oncology, inflammation and infectious diseases, today announces that the Forms 20-F and F-6 filed by Accustem Sciences Limited with the SEC have been declared effective, enabling the completion of the in specie distribution and spin out of Accustem Sciences Limited. These documents together can be found at www.accustem.com
Times and dates for holders of Tiziana ordinary shares (traded on the London Stock Exchange)
The timetable for the holders of Tiziana ordinary shares (traded on the London Stock Exchange) held in CREST and Certificated form is as follows:
| Demerger Record Time: | 7:00 a.m. on 30 October 2020 |
| Ex-entitlement date for Accustem Shares: | 2 November 2020 |
| CREST accounts credited with Accustem Shares: | 8 July 2021* |
| Certificates for Accustem Shares for those shareholders holding their Tiziana Life Sciences plc in certificated form: | by 18 July 2021 |
| * replacing allocation placeholders currently showing | |
Times and dates for holders of Tiziana ADSs (traded on the US Nasdaq Market)
The timetable for the holders of Tiziana ADSs (traded on the Nasdaq market) are subject to different corporate action timings and holders of the ADRs should also refer to the notice published today by JP Morgan, the ADR depositary bank which can be found at https://www.adr.com/drprofile/88875G101
Announcement Tiziana CUSIP: 88875G101
| Corporate Action Type: | Spin Off with DR Distribution |
| Spin Off Issuer Name: | Accustem Sciences Limited |
| Spin Off DR CUSIP: | 00442Y101 |
| DR Distribution Rate: | 1 new Accustem DR(s) issued for every 1 existing Tiziana DR held on DR Record Date |
| Tax Withholding Rate: | n/a |
| DR Record Date: | November 6, 2020 |
| DR Payment Date: | July 14, 2021 |
| DR Issuance and Cancellation Books close Date: October 28, 2020 | |
| DR Issuance and Cancellation Books reopen Date: July 19, 2021 | |
| Fees: Issuance fee: $nil per DR issued | |
The Issuer has announced a Spin Off Distribution in the local market. Existing Tiziana DRs will continue to be valid and will not have to be exchanged for new DRs.
| For further enquiries: United Kingdom: | |
| Tiziana Life Sciences plc Gabriele Cerrone, Chairman and founder | +44 (0)20 7495 2379 |
| United States: Investors: Dave Gentry, CEO RedChip Companies Inc. 1-800-RED-CHIP (733-2447) or 407-491-4498 dave@redchip.com |
FAQ
What is the significance of the SEC's declaration for Tiziana Life Sciences (TLSA)?
When will Tiziana shareholders receive Accustem shares?
What are the key dates related to the spin-off of Accustem from Tiziana Life Sciences (TLSA)?
How will the spin-off affect Tiziana's existing DR holders?
