28/08/2009
ReGen Therapeutics Plc (“ReGen” or the “Company”) AIM
announces that it has today served notice to withdraw its American
Depositary Receipt (“ADR”) quotation from OTCQX International. The quotation has been removed with immediate effect.
The ADR’s will continue to trade in the United States on the Pink
Sheets of the US over-the-counter (OTC) market under the ticker:
REGUY.
The reason for the withdrawal from the OTCQX is solely to save the annual cost of maintaining the listing and is part of the Company’s ongoing strategy to reduce overheads and to concentrate expenditure on essential areas only. While the Directors still consider that the Company has the potential for both future commercial activity in the USA and as an investment potential in the US markets, they believe that the withdrawal from the OTCQX is the right approach under the current circumstances.
The Bank of New York Mellon will continue to serve as the depositary bank for the Company’s ADR Programme. ReGen can issue ADRs in respect of up to 25% of its issued share capital and each ADR represents 200 ReGen ordinary shares.
The Company retains its primary listing on AIM.
For details of ReGen’s ADR programme, please go to
www.regentherapeutics.com/rtl/investors/adr/
For further information:
Percy Lomax
ReGen Therapeutics Plc
Tel No 020 7153 4920
Roland Cornish/Felicity Geidt
Beaumont Cornish
Tel No 020 7628 3396
David Scott/Nick Bealer
Alexander David
Tel No 020 7448 9800