ASLAN Pharmaceuticals announced that it plans to change the ratio of the American Depositary Shares to its ordinary shares, par value $0.01 per share, from one ADS representing five ordinary shares to one ADS representing twenty-five ordinary shares. For the Company’s existing ADS holders, the change in the ADS ratio will have the same effect as a one-for-five reverse ADS split. There will be no change to the Company’s ordinary shares. The effect of the ratio change on the ADS trading price on the Nasdaq Capital Market is expected to take place at the opening of trading on March 13, 2023. The exchange of every five then-held ADSs for one (1) new ADS will occur automatically with the then-held ADSs being cancelled and new ADSs being issued by the depositary bank, in each case as of the effective date for the ADS ratio change, March 13, 2023. No fractional new ADSs will be issued in connection with the ADS ratio change.
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