NESS ZIONA, Israel, May 3,
2021 /PRNewswire/ -- MeaTech 3D Ltd. ("MeaTech") (Nasdaq:
MITC) (TASE: MITC), a technology company focused on developing
cultured meat production capabilities including its proprietary
three-dimensional printing technology, biotechnology processes, and
customizable manufacturing processes for slaughter-free real meat
manufacturing, today announced that it is initiating a process to
voluntarily delist its ordinary shares, no par value (the "Ordinary
Shares"), from the Tel Aviv Stock Exchange Ltd. (the "TASE").
In accordance with applicable Israeli law and the rules of the
TASE, the last day the Ordinary Shares will trade on the TASE will
be August 3, 2021, and the Ordinary
Shares will be delisted from the TASE on August 5, 2021. Until the last day of trading on
the TASE, shareholders will be able to continue to buy and sell
Ordinary Shares in the same manner as has been the case to date, by
issuing buy or sell orders to the banks or brokers that hold the
Ordinary Shares for the shareholders. Meat-Tech's American
Depositary Shares (the "ADSs"), each representing ten Ordinary
Shares, will continue to be traded on the Nasdaq Capital Market
("Nasdaq") under the symbol "MITC."
The decision to delist from the TASE was taken as MeaTech's
board of directors and management believe it will help position the
MeaTech group of companies internationally, allow MeaTech to focus
its investor and public relations efforts, and maximize MeaTech's
potential.
MeaTech does not anticipate any change or damage to the value of
holdings or tradeability of the Ordinary Shares as a result of the
conversion into ADSs or from the transfer of the value into U.S.
dollars. Every ten Ordinary Shares shall be converted into one
ADS.
MeaTech urges all holders of Ordinary Shares that are traded on
the TASE to convert their Ordinary Shares by the date of delisting
from the TASE, and to contact their banks or brokers with any
questions about the conversion process. MeaTech will pay directly
to the Israeli banks and brokers their fees for all shareholders
who convert Ordinary Shares into ADSs on the date of delisting from
the TASE. In addition, until 90 days from the date of this
announcement, shareholders who convert their Ordinary Shares into
ADSs will not be required to pay any conversion fees to the
depositary, the Bank of New York Mellon.
About MeaTech
MeaTech 3D commenced activities in 2019, with the aim of
developing and scaling cultured meat production capabilities. To
realize its vision of sustainably producing slaughter-free real
meat, MeaTech 3D is developing proprietary three-dimensional
bioprinting technology, biotechnology processes, and customizable
manufacturing processes as well as pursuing synergistic
acquisitions to accelerate development. The Company's ADSs are
listed on the Nasdaq Capital Market under the ticker symbol "MITC".
Its ordinary shares are traded on the Tel Aviv Stock Exchange under
the ticker symbol "MITC."
For more information, please visit https://meatech3d.com/.
Forward-Looking Statements
This press release contains forward-looking statements,
including with respect to the delisting of MeaTech's ordinary
shares from the Tel Aviv Stock Exchange. These forward-looking
statements are subject to a number of risks, uncertainties and
assumptions, including market and other conditions. MeaTech
undertakes no obligation to update any such forward-looking
statements after the date hereof to conform to actual results or
changes in expectations, except as required by
law.
MeaTech Press
Contact:
|
MeaTech Investor
Contacts:
|
Alan
Rainier
Rainier Communications alanryan@rainierco.com
|
Megan Paul
Edison Group
mpaul@edisongroup.com
|
Ehud Helft
Edison Israel
ehelft@edisongroup.com
|
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SOURCE MeaTech 3D Ltd.