Prima BioMed Announces ADR Ratio Change SYDNEY,

New Post Public Reply Private Reply Replies (0) Message Board
News Desk 2018
Prima BioMed Announces ADR Ratio Change

SYDNEY, AUSTRALIA--(Marketwired - Dec 18, 2016) - Prima BioMed Ltd ( ASX : PRR ) ( NASDAQ : PBMD ) ("Prima", the "Company") announces a ratio change for the Company's American Depositary Receipt ("ADR") program. As a result, the number of the Company's ordinary shares represented by each American Depositary Share ("ADS") will be changed from thirty (30) ordinary shares to one hundred (100) ordinary shares. The effective date anticipated for the ratio change is December 28, 2016 (U.S. Eastern Standard Time).

On August 10, 2016, the Company announced that it had received a notification from the NASDAQ Listing Qualifications Department advising that it was non-compliant with NASDAQ's minimum bid price of US$1.00 per share rule. ADR holders on the record at market close on December 27, 2016 Eastern Standard Time will receive 1 (one) new ADS for every 3.333333 old ADSs held. The Company anticipates that after the ratio change, the price of its ADSs will increase proportionally and meet NASDAQ's minimum bid price requirement. However, there can be no assurance that such an increase will occur.

No fractional ADSs will be issued. Cash will be paid in lieu of fractional ADSs. The ratio change will affect all ADR holders uniformly. The ratio change will not reduce any ADR holder's percentage ownership interest in the Company, except for minor adjustments that may result from the treatment of fractional ADSs. Proportionate voting rights and other rights and preferences of the ADR holders will not be reduced by the ratio change (subject to the treatment of fractional ADSs). The number of ADR holders of record will not be affected by the ratio change.

No new ordinary shares will be issued in connection with the ratio change and it will not impact the number of ordinary shares listed on the ASX.

Summary of the Ratio Change Current Ratio 1 ADS = 30 ordinary shares New Ratio 1 ADS = 100 ordinary shares New CUSIP 74154B302 Effective Date December 28, 2016 (U.S. EST)

About Prima BioMed

Prima BioMed is listed on the Australian Securities Exchange, and on the NASDAQ in the US. For further information please visit www.primabiomed.com.au .

For further information please contact: Prima BioMed Ltd: Australia Investor/Media: Mr. Matthew Gregorowski Citadel-MAGNUS +61 (2) 8234 0100 mgregorowski@citadelmagnus.com U.S. Investors: Matthew Beck The Trout Group LLC +1 (646) 378-2933 mbeck@troutgroup.com

Scroll down for more posts ▼

Top 10 Most Recent News Articles

BMO's Strategic Exit: Transportation Finance Sale

Updated Category News Views 34

A Major Shift in BMO’s Strategic Direction When it comes to banking, BMO ain't playing small ball. They've just doubled down on their decision to part ways with their Transportation Finance and Vendor Finance operations, selling off a hefty part of these portfolios to Stonepeak. Now, that might sound like a mouthful, but hang tight, the nitty-gritty's where it gets...

Continue Reading
IANS Enhances Cybersecurity with Microsoft Copilot Integration

Updated Category News Views 43

Cybersecurity Intelligence Meets Convenience Imagine the chaos of a Monday morning without your go-to coffee: that's your security team trying to make informed decisions without robust data. But now, with a dash of innovation, IANS has amped up the stakes by integrating its wealth of cybersecurity intelligence with Microsoft Copilot. It's no small beans, folks. The...

Continue Reading
ZYNLONTA's Japanese Push: ADC Therapeutics Gains Traction

Updated Category News Views 51

ADC Therapeutics Eyes Japan with ZYNLONTA Bet These days, everyone seems to have their eyes on the Far East, and ADC Therapeutics is no exception. They're making a strategic leap by letting their budding blockbuster ZYNLONTA make waves in Japan. With the fresh file submitted for approval, it looks like they're hoping to capture market ground that could pay off big time...

Continue Reading
Abel Leads PRSA Maryland Chesapeake as New Chapter President

Updated Category News Views 17

New Leadership and Opportunities in the PR Landscape Amid all the hustle and bustle of the corporate world, something big's brewing in Baltimore's public relations sphere. Greg Abel, the go-getting mastermind behind Abel Communications, has taken the helm of the newly formed PRSA Maryland Chesapeake chapter. This isn't just about shifting chairs or fancy titles—this...

Continue Reading
Webull Faces Class Action: Investor Impact Deep Dive

Updated Category News Views 99

What's Going On with Webull? Ah, Webull Corporation, you're in the hot seat now. If you blinked on October 7th, you might have missed a monumental 19.09% cliff dive in Webull's stock, tumbling down to a humble $5.89. The roar wasn't just the market reacting; it was the sonic boom of a class action lawsuit on their heels, alleging some slick legal sledding with misleading...

Continue Reading
Victory Gala Honors Heroes, Raises Over $500K

Updated Category News Views 50

A Night Celebrating Service and Sacrifice You know, in times like these, it’s refreshing to see events that focus on giving back rather than taking everything to the bank. Victory Home Remodeling, along with its nonprofit arm, the Victory Foundation, recently hosted their second annual gala in Woodland Park, New Jersey to give some much-needed limelight to those who put...

Continue Reading
SKE Invigorates IRONWORKS London's Music Vibe With E-Cigs

Updated Category News Views 57

Bringing SKE's Flair to London's Music Scene Well, folks, hold onto your hats—SKE's thrown its weight behind IRONWORKS London, extending its reach deeper into the UK's electronic music scene. This ain't just another gig; we're talking about the second time SKE is flexing its sponsorship muscles in the UK music arena, officially angling for the vape category spotlight....

Continue Reading
TIOmarkets App Unveils Enhanced Trading Features

Updated Category News Views 94

Trading on the Go Takes a Leap Forward Pretty slick development from TIOmarkets, if I do say so myself. They've rolled out a major expansion of their mobile trading app, now packing some hefty features like Depth of Market and more granular order controls right from those little devices in our pockets. Quite the leap if you're one of those folks who can't keep your eyes...

Continue Reading
Rockford Fosgate Elevates Marketing Maverick to Lead Role

Updated Category News Views 40

Changing the Guard in High-Performance Audio Marketing Out of Arizona, we get a shake-up that feels like a no-brainer for anyone in the high-performance audio market. Rockford Fosgate decided to elevate Tammy Lowe to the Vice President of Marketing role, effective immediately. With nearly four decades under her belt at the sunny Tempe-based HQ, it's hard to argue with the...

Continue Reading
Concurrence Expands Reach With Microsoft Marketplace

Updated Category News Views 50

Concurrence's Big Move into Microsoft's Court From the bustling streets of New York to the mighty tech avenues of Seattle, Concurrence is making waves that could leave a whale-sized impact on the healthcare sector. As of today, their Health World Model and snazzy AI agents have entered the Microsoft Marketplace, marking a significant leap forward. For the uninitiated,...

Continue Reading

Top 5 Most Recently Viewed Articles

The Future of Truck Rental: Insights and Growth Opportunities

Updated Category News Views 126

Truck Rental and Leasing Market Overview The global truck rental and leasing market is anticipated to witness substantial growth, projected to increase from USD 137.4 billion to USD 266.31 billion over the next decade. This surge is attributed to the growing preference among small businesses for renting and leasing trucks, thus circumventing the high costs associated with...

Continue Reading
c/side Introduces Compliance Dashboard for PCI DSS 4.0.1

Updated Category News Views 357

c/side Launches Advanced Dashboard for PCI Compliance c/side, a prominent cybersecurity company based in San Francisco, has recently unveiled a groundbreaking product designed to enhance the way businesses manage their compliance with the latest Payment Card Industry Data Security Standard (PCI DSS) regulations. The launch of the PCI compliance dashboard stands as a...

Continue Reading
China's Strategic Framework for Innovative Poverty Alleviation

Updated Category News Views 261

China's Approach to Eradicating Poverty Recently, there was a significant event highlighting the strategies employed by China in poverty alleviation. The launch of the Portuguese edition of a book by Chinese President Xi Jinping on poverty relief, titled "Up and Out of Poverty," coincided with an insightful seminar discussing governance practices between nations. Osmar...

Continue Reading
Alexandria Real Estate's Legal Challenges and Stock Impact

Updated Category News Views 327

Understanding the Recent Developments for Alexandria Real Estate Investors are grappling with significant news regarding Alexandria Real Estate Equities, Inc. (NYSE: ARE), following a series of financial setbacks that raised concerns in the market. In December 2025, the company faced pivotal challenges that negatively impacted its stock and investor sentiment. What Led to...

Continue Reading
Innovative Applications of Molecular Switches in Medicine

Updated Category News Views 291

Understanding Molecular Switches in Cellular Communication Cell signaling is essential in all living organisms. It's the way cells exchange information, adapt to changes in their environment, and coordinate a harmonious interaction among themselves. At the core of these intricate signaling networks are molecular switches, capable of turning biological processes on and off...

Continue Reading