Kazia Therapeutics announces intent to de-list from ASX

Kazia Therapeutics announces its intention to de-list from the Australian Securities Exchange, or ASX. Kazia advises that it has submitted a formal application to the ASX to be removed from the official list of the ASX in accordance with ASX Listing Rule 17.11. This formal request follows the receipt of in-principle advice from the ASX in relation to the proposed Delisting, subject to the satisfaction of the conditions set out below. The Board has ultimately determined that the costs, administrative burden and commercial disadvantages of remaining listed on ASX outweigh any benefits of a continued ASX listing. Following the Delisting, the Company will maintain its listing on the NASDAQ and the fully paid ordinary shares in the Company will no longer be quoted on the ASX. Further details regarding the reasons for and consequences of the Delisting are set out below. Reasons for seeking removal include: Costs; Access to larger equity markets with biotechnology focus; Capital raisings; Location of directors and management. The Company will notify shareholders whose securities are held on the Company’s Australian principal share register of the time and date at which the Company will be removed from the Official List shortly.