NuCana Announces Plan to Implement ADS Ratio Change
EDINBURGH, United Kingdom, March 27, 2024 (GLOBE NEWSWIRE) -- NuCana plc (NASDAQ: NCNA) announced plans to change the ratio of its American Depository Shares (“ADSs”) to its ordinary shares from one (1) ADS, representing one (1) ordinary share, to one (1) ADS representing twenty-five (25) ordinary shares (the "ADS Ratio").
- EDINBURGH, United Kingdom, March 27, 2024 (GLOBE NEWSWIRE) -- NuCana plc (NASDAQ: NCNA) announced plans to change the ratio of its American Depository Shares (“ADSs”) to its ordinary shares from one (1) ADS, representing one (1) ordinary share, to one (1) ADS representing twenty-five (25) ordinary shares (the "ADS Ratio").
- The change in the ADS Ratio is expected to become effective on or about April 16, 2024 (the "Effective Date").
- For the Company's ADS holders, the change in the ADS Ratio has the same effect as a one-for-twenty-five reverse ADS split and will have no impact on an ADS holder’s proportional equity interest in the Company.
- As a result of the change in the ADS Ratio, the ADS trading price is expected to increase proportionally, although the Company can give no assurance that the ADS trading price after the change in the ADS Ratio will be proportionally equal to or greater than the previous ADS trading price prior to the change or that the change in the ADS Ratio will have any effect on the liquidity in the Company’s ADSs.