Aslan Pharmaceuticals plans to implement ADS ratio change

Aslan Pharmaceuticals announced that it plans to change the ratio of the American Depositary Shares to its ordinary shares, par value $0.01 per share, from one ADS representing twenty-five ordinary shares to one ADS representing two hundred ordinary shares. For the company’s existing ADS holders, the change in the ADS ratio will have the same effect as a one-for-eight reverse ADS split. There will be no change to the company’s ordinary shares. The effect of the ratio change on the ADS trading price on the Nasdaq Capital Market is expected to take place at the opening of trading on July 3, 2024 (U.S. Eastern Time). ADS holders of record on the effective date will not be required to take any action in connection with the ADS ratio change. The exchange of every eight then-held (old) ADSs for one new ADS will occur automatically with the then-held (old) ADSs being cancelled and new ADSs being issued by the depositary bank, in each case as of the effective date for the ADS ratio change, July 3, 2024. The ADSs will continue to be traded on Nasdaq under the symbol “ASLN“.