Perth, Australia and Greer, South Carolina: Alexium International Group Limited (“Alexium,” “the Company”) (ASX:AJX,
OTC QX:AXXIY) has been admitted to NASDAQ International Designation.
Alexium’s Level 1 ADR’s (American Depositary Receipts) will now trade on NASDAQ International Designation under ticker AXXIY and will cease being listed on the OTCQX. There are no additional regulatory or compliance requirements for Alexium’s existing Level 1 ADR’s under the NASDAQ International Designation. The Transfer Agent for Alexium’s ADR’s is BNY Mellon.
The NASDAQ International Designation will provide Alexium with access to NASDAQ’s investor marketing programs and investor relations services to increase the visibility of Alexium in the US investment community and US market makers. NASDAQ will distribute Alexium’s news through NASDAQ’s press release distribution service, reaching both investor and financial news and online services.
“Alexium’s growing sales and market penetration for its environmentally friendly specialty chemical products has led to an increase in interest from within the US investment community. This NASDAQ International Designation is a precursor to a NASDAQ Main board listing which is currently being progressed with NASDAQ”, stated Dirk Van Hyning, Alexium’s President.
The NASDAQ International Designation program commenced in December 2015. Two of the initial international designation companies were Qantas Airways Ltd and Macquarie Group.
The NASDAQ International Designation is not a US regulated public exchange. The companies who participate in this program are not subject to the same listing or qualification standards applicable to securities listed on a US public exchange market and regulated by the US Securities and Exchange Commission (SEC). However, NASDAQ International Designation companies are distinguished from other OTC traded companies by having met NASDAQ’s high program requirements.
Alexium is not required to issue any new shares under the NASDAQ International Designation or to convert its existing Level 1 ADR’s to publicly tradeable Level 2 ADR’s for listing on the NASDAQ main board. However, Alexium will be required to make public filings with the SEC and be regulated by the SEC
for Level 2 ADR’s.
Chief Executive Officer
U.S. R&D Center:
T: +1 864.416.1060 F: +1 864.752.6465
ALEXIUM | U.S.