Important Update to Shareholders: Share Consolidation Clarification

DATE: Wednesday 3rd August 2022
Author: Medlab,

Categories > Press Releases

Summary

  • Share consolidation has commenced, temporary ASX ticker is MDCDA
  • DA is a deferred account used whilst the shares are being consolidated.
  • Market opening 5th Aug 2022, expectations are consolidated shares will revert back to MDC

 

Dear Shareholders,

As some of you noticed yesterday share values against our ASX ticker MDC where reverted to “0”, this is simply because post EGM and the passing of the share consolidation resolution, the actual share consolidation is underway. Currently shares are assigned to a deferred account ticker MDCDA.

 

It is expected opening of market (5 AUG 2022) the consolidation will be completed and share trading will resume under our normal assigned ASX ticker: MDC.

 

At this point your shares should be consolidated to 150 pre-consolidated shares to 1 post-consolidated share.  Note, your total holding value and as a percentage of the market capital in Medlab you own via shares, remains unchanged.

 

We hope this helps clarify the current situation and thank you for your support.

 

About Medlab

 

Medlab Clinical LTD (ASX:MDC) is pioneering the development and Commercialisation of a delivery technology, allowing for enhanced medical properties, including increased efficacy, safety, patient compliance and stability. 

Medlab’s pipeline comprises several small and large molecules from repurposing generic medicines to enhancing the delivery of immunotherapies. 

Patented lead drug candidate NanaBis™ has been developed for cancer bone pain as a viable alternative to opioid use. Data to date, strongly suggests NanaBis™ may be equally effective in non-cancer neuropathic pain. 

NanoCelle®, the patented delivery platform is wholly owned by Medlab and developed in Medlab’s owned OGTR Registered Laboratory. 

NanoCelle® is designed to address known medication problems, addressing global unmet medical needs. Medlab operates in Australia (Head Office), USA, and the UK.

 

About the author

Medlab

Medlab in-house Editor.