Advanced Health Intelligence Ltd (ASX: AHI) has recently disclosed a modification in the ratio between its American Depositary Shares (ADSs) and non-traded ordinary shares. The new ratio will be one ADS representing twenty-eight ordinary shares, compared to the previous ratio of one ADS representing seven ordinary shares. The change, which is equivalent to a reverse split, will be effective from June 30, 2023. The ADSs will retain their trading status on the Nasdaq Capital Market under the ticker symbol "AHI," accompanied by a newly assigned CUSIP Number.
The halt in trading of the ADSs on Nasdaq was temporary and is expected to resume on June 30, 2023. AHI aims to regain compliance with Nasdaq's minimum bid price requirement through this ratio change. The depositary bank will sell fractional entitlements to new ADSs generated by the ratio change, and distribute the net cash proceeds to the respective ADS holders. AHI specializes in delivering scalable health assessment, risk stratification, and digital triage solutions to various healthcare entities worldwide.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
