Dual-Listed Nano Dimension to Voluntarily Delist from Tel-Aviv Stock Exchange
February 20 2020 - 8:00AM
Nano Dimension Ltd.
(Nasdaq, TASE: NNDM),
a leading Additively Manufactured Electronics (AME)
provider, today announced that it will voluntarily
delist its ordinary shares from trading on the Tel Aviv Stock
Exchange (TASE).
“This is a natural step for Nano Dimension.
Delisting from the TASE will reduce cost and complexity and allow
the company to focus on the financial markets where its main
business markets are located,” said Yoav Stern, Nano Dimension’s
newly appointed CEO. “Israeli investors will continue to be
served by the company as partners and supporters while their stock
is traded on the Nasdaq in the form of American Depositary
Shares.”
Under Israeli law and TASE rules, the delisting
of Nano Dimension’s ordinary shares from trading on the TASE will
take place at least 90 days after the date of this announcement,
which is expected to be on or about May 20, 2020. Nano Dimension
will announce the exact date of its TASE delisting when it becomes
available.
Nano Dimension's American Depositary Shares,
each of which represents 50 ordinary shares, will continue to trade
on the Nasdaq Capital Market under the symbol “NNDM”.
Holders of ordinary shares that currently trade
on the TASE may convert their ordinary shares into ADSs through
their banks or brokers. The process to convert ordinary shares into
ADSs involves depositing ordinary shares in the Israeli custodian
account of The Bank of New York Mellon, the Depositary of our ADS
program. The Bank of New York Mellon will waive its conversion and
issuance fees for all shareholders who convert their ordinary
shares until May 29, 2020. After May 29, 2020, each conversion will
be charged $0.05 per ADS. Holders of the Company’s ordinary shares
are encouraged to contact their banks or brokers with any questions
about the conversion process.
About Nano Dimension
Nano Dimension (Nasdaq, TASE: NNDM) is a
provider of intelligent machines for the fabrication of
Additively Manufactured Electronics (AME). High fidelity active
electronic and electromechanical subassemblies are integral
enablers of autonomous intelligent drones, cars,
satellites, smartphones, and in vivo medical devices. They
necessitate iterative development, IP safety, fast time-to-market
and device performance gains, thereby mandating AME for in-house,
rapid prototyping and production. Nano Dimension machines
serve cross-industry needs by depositing proprietary consumable
conductive and dielectric materials simultaneously, while
concurrently integrating in-situ capacitors, antennas, coils,
transformers and electromechanical components, to function at
unprecedented performance. Nano Dimension bridges the gap between
PCB and semiconductor integrated circuits. A revolution at the
click of a button: From CAD to a functional high-performance AME
device in hours, solely at the cost of the consumable
materials. For more information, please visit
www.nano-di.com.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the “safe harbor” provisions of
the Private Securities Litigation Reform Act of 1995 and other
Federal securities laws. Words such as “expects,” “anticipates,”
“intends,” “plans,” “believes,” “seeks,” “estimates” and similar
expressions or variations of such words are intended to identify
forward-looking statements. For example, Nano Dimension is using
forward-looking statements in this press release when it discusses
the delisting of its ordinary shares from the TASE and the trading
of the ADSs on the Nasdaq Capital Market. Because such statements
deal with future events and are based on Nano Dimension's current
expectations, they are subject to various risks and uncertainties.
Actual results, performance or achievements of Nano Dimension could
differ materially from those described in or implied by the
statements in this press release. The forward-looking statements
contained or implied in this press release are subject to other
risks and uncertainties, including those discussed under the
heading “Risk Factors” in Nano Dimension’s annual report on Form
20-F filed with the Securities and Exchange Commission (“SEC”) on
March 14, 2019, and in any subsequent filings with the SEC. Except
as otherwise required by law, Nano Dimension undertakes no
obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events. References and links to websites have been provided as a
convenience, and the information contained on such websites is not
incorporated by reference into this press release. Nano Dimension
is not responsible for the contents of third-party websites.
NANO DIMENSION INVESTOR RELATIONS CONTACTYael
Sandler, CFO | ir@nano-di.com
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