Processing Fees on ADRs to be Waived for two Months
August 28 2007 - 5:55AM
PR Newswire (US)
NEW YORK, August 28 /PRNewswire-FirstCall/ -- XTL
Biopharmaceuticals Ltd. (NASDAQ:XTLB)(LSE:XTL)(TASE:XTL), a
biopharmaceutical company engaged in the acquisition, development
and commercialization of therapeutics for the treatment of unmet
medical needs, particularly neuropathic pain and hepatitis C, today
announced that issuances of American Depositary Receipts, or ADRs,
by the Company's depositary bank, The Bank of New York, will be
processed free of the customary charges of The Bank of New York
from September 3, 2007 through October 31, 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 XTL'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 020.7964.6089 Fax
020.7964.6024 Or New York Jason Paltrowitz Vice President Tel
212.815.2077 Fax 212.815.3004 Ron Bentsur, Chief Executive Officer
of XTL, commented, "We want to thank The Bank of New York for
offering shareholders this free issuance window in conjunction with
the planned cancellation of the Company's Ordinary Shares on the
Official List of the United Kingdom Listing Authority, subject to
shareholder approval at an Extraordinary General Meeting to be held
on September 25, 2007." ABOUT XTL BIOPHARMACEUTICALS LTD. XTL
Biopharmaceuticals Ltd. ("XTL") is engaged in the acquisition,
development and commercialization 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 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, London, and Tel-Aviv Stock Exchanges (NASDAQ:XTLB) (
LSE: XTL) (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 or
the future cancellation of the Company's Ordinary Shares on the
Official List of the United Kingdom Listing Authority 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 and the London Stock Exchange,
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
+972-8-930-4444 DATASOURCE: XTL Biopharmaceuticals Ltd CONTACT:
Contact: Ron Bentsur, Chief Executive Officer, Tel: +1-845-267-0707
ext. 225, +972-8-930-4444
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