XTL Biopharmaceuticals to Execute One-for-Four ADS Reverse Split on March 25, 2026
XTL Biopharmaceuticals will change its ADS ratio from one ADS per 100 ordinary shares to one ADS per 400 ordinary shares effective March 25, 2026, equivalent to a one-for-four reverse ADS split. Fractional ADS entitlements will be aggregated, sold, net proceeds distributed with no fees or impact on underlying shares.
1. ADS Ratio Change Details
XTL Biopharmaceuticals is adjusting its American Depositary Share ratio from one ADS to 100 ordinary shares up to one ADS to 400 ordinary shares, which is effectively a one-for-four reverse ADS split. This change is scheduled to take effect on March 25, 2026.
2. Procedure for ADS Holders
Registered holders of certificated ADSs must surrender four existing ADSs to the depositary bank in exchange for one new ADS, while holders in DRS and DTC will receive the exchange automatically with no action required. There are no fees charged to any ADS holders for this exchange.
3. Fractional Entitlement Process
No fractional new ADSs will be issued; instead, the depositary bank will aggregate and sell fractional entitlements. Net cash proceeds from those sales, after fees and taxes, will be distributed to the applicable ADS holders.
4. Impact on Trading and Shares
Post-split, XTL’s ADS will continue trading under the symbol XTLB on the Nasdaq Capital Market, with the trading price expected to adjust proportionally. This corporate action will not issue or cancel any of the company’s underlying ordinary shares.