Trinity Biotech Plc.(NASDAQ:TRIB) (the “Company”) today announced that it has finalized the effective date of its ratio change of its American depositary shares (“ADSs”) from one (1) ADS representing four (4) Class A ordinary shares to one (1) ADS representing twenty (20) Class A ordinary shares. The effect of the ratio change on the ADS trading price on the Nasdaq Global Market is expected to take place at the open of trading on February 23, 2024 (U.S. Eastern Time) (the “Effective Date”).
For Trinity Biotech Plc ADS holders, the change in the ADS ratio on February 23, 2024 will have the same effect as a one-for-five reverse ADS split and is intended to enable the Company to regain compliance with the $1.00 Nasdaq minimum bid price requirement and maintain its NASDAQ listing.
Other than the change of effective date to February 23rd, 2024, the remaining details regarding the ratio change remain the same as previously announced on February 13, 2024.
