I haven’t spoken to anyone and my findings are what is available on their website but if I’m correct, there’s nothing, (providing we want to remain ordinary shareholders and not convert to ADS), that we need to do. It appears that the ADS is solely a new offering and is addition to current ordinary shares. I own RLFTF and believe I can continue to hold without any conversion. Of course, all this can change in a heartbeat.
1) From Reliefs website…
Do I have to convert my Ordinary Shares into ADSs?
No, the Company’s Ordinary Shares continue to trade on the SIX Exchange in Switzerland. If you do not wish to hold ADSs but wish to remain a holder of Relief Therapeutics Ordinary Shares then no action is required.
2) This newsletter seems to only impact ADR…..
GENEVA, SWITZERLAND / ACCESSWIRE / October 25, 2022 / RELIEF THERAPEUTICS Holding SA (SIX:RLF)(OTCQB:RLFTF)(OTCQB:RLFTY) ("Relief"), announced today that it has filed Amendment No. 2 to its Form F-6 registration statement for depositary shares evidenced by American Depositary Receipt ("ADR") with the U.S. Securities and Exchange Commission ("SEC"). The amendment was filed to reverse split and change the ratio of Relief's ADRs to Relief's ordinary shares from 1 to 150 to 1 to 200. The new ratio will take effect on November 3, 2022. The reverse split and ratio change is being undertaken as part of Relief's plan to prepare for an uplist of its ADRs to the NASDAQ Stock Market.
Relief's ADRs are currently traded on the over-the-counter ("OTC") under the trading symbol ("RLFTY").
3) New offering….
December 27, 2022 / RELIEF THERAPEUTICS Holding SA (SIX:RLF)(OTCQB:RLFTF)(OTCQB:RLFTY ) (Relief), announced today that it has filed Amendment No. 2 to its Registration Statement on Form F-1 under the Securities Act of 1933 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed offering of its ordinary shares in the form of American Depositary Shares (ADSs). The preliminary prospectus provides for the possible sale of 833,333,200 ordinary shares in the form of ADSs (4,166,666 ADSs) in the United States and warrants to purchase 625,000,000 ordinary shares in the form ADSs (3,125,000 ADSs). In addition, the preliminary prospectus sets forth that Relief will grant the underwriters an option to purchase up to an additional 125,000,000 ordinary shares in the form of ADSs (625,000 ADSs) and additional warrants to purchase up to 93,750,000 additional shares in the form of ADSs (468,750 ADSs). The number of ADSs to be offered and the price range remain subject to change, and there can be no assurance that the offering contemplated by the registration statement will be completed. Relief will report the final terms of the contemplated offering once fixed in a future amendment to its registration statement. The offering, if made, will only be made by means of an effective prospectus. Further information is available in the Amendment No. 2 here .
AI
