Effectiveness of Voluntary Delisting of IDEX Biometrics ADSs from Nasdaq Capital Market
10 Agosto 2023 - 6:00PM
Effectiveness of Voluntary Delisting of IDEX Biometrics ADSs from
Nasdaq Capital Market
Oslo, Norway, August 10,
2023 – IDEX Biometrics ASA (“IDEX” or the
“Company”) (Nasdaq: IDBA) is a global technology leader in
fingerprint biometrics, offering authentication solutions across
payments, access control and digital identity. The Company’s
voluntary delisting of American Depositary Shares (“ADSs”)
representing its ordinary shares from The Nasdaq Capital Market
(“Nasdaq”) has become effective. Each ADS represents 75 ordinary
shares of the Company. The Company has also filed a Form 15 with
the Securities and Exchange Commission (“SEC”) to suspend its
reporting obligations under the Securities Exchange Act of 1934, as
amended (the “Exchange Act”), in respect of the ADSs and the
ordinary shares. The Company expects that the deregistration of the
ADSs under the Exchange Act will become effective 90 days after the
filing of the Form 15.
The listing on the Euronext Oslo Børs of IDEX Biometrics
ordinary shares (ticker IDEX) continues unchanged.
Information for ADS HoldersThe Bank of New York
Mellon serves as depositary (the “Depositary”) for the Company’s
ADS facility. Each ADS represents 75 of our ordinary shares. The
Depositary intends to terminate the Deposit Agreement, dated
February 26, 2021, among us, the Depositary and owners and holders
of ADSs (the “Deposit Agreement”) on October 19, 2023.
Under the terms of the Deposit Agreement, ADS holders have until
at least October 19, 2023 to surrender ADSs for delivery of the
underlying ordinary shares. If you surrender ADSs for delivery of
the underlying shares, you must pay a cable fee of $17.50. In order
to exchange ADSs for the Company’s ordinary shares, ADS holders
should instruct their brokers to surrender ADSs to The Bank of New
York Mellon (DTC No. 2504). In connection with this surrender,
brokers should include ongoing ordinary share delivery instructions
in the comments field within DTC, including information such as the
name and BIC of the appropriate local bank/broker and/or
appropriate delivery code, beneficiary name and account number.
U.S. brokers holding ADSs on behalf of their clients, can reach out
to DRSettlements@BNYMellon.com for questions regarding the
conversion and settlement process.
Subsequent to October 19, 2023, the Depositary may elect to sell
the underlying shares. If the Depositary has sold such shares,
holders of ADSs must surrender such securities in order to obtain
payment of the sale proceeds of the underlying ordinary shares, net
of the expenses of sale, any applicable U.S. or local taxes or
government charges and a cancellation fee of up to $0.05 per
ADS.
To surrender ADSs, the address of the Depositary is: The Bank of
New York Mellon, 240 Greenwich Street, Depositary Receipts Division
– 8th Floor, Attention: Cancellation Desk, New York, NY 10286.
Registered or overnight mail is the suggested method of delivering
ADSs to the Depositary. For Settlement specific inquiries, please
contact DRsettlements@bnymellon.com.
Investors may still present ADSs to The Bank of New York Mellon.
Investors will receive either the underlying shares (if those have
not yet been sold by the Depositary) or the cash received by the
Depositary received upon sale of underlying shares, net of fees, if
those underlying shares were sold. For more information,
investors should contact DRBrokerSolutions@bnymellon.com.
About IDEX Biometrics IDEX Biometrics ASA (OSE:
IDEX and Nasdaq: IDBA) is a global technology leader in fingerprint
biometrics, offering authentication solutions across payments,
access control, and digital identity. Our solutions bring
convenience, security, peace of mind and seamless user experiences
to the world. Built on patented and proprietary sensor
technologies, integrated circuit designs, and software, our
biometric solutions target card-based applications for payments and
digital authentication. As an industry enabler, we partner with
leading card manufacturers and technology companies to bring our
solutions to market. For more information, visit
www.idexbiometrics.com.
Business Risks and Forward-Looking
StatementsThis news release contains forward-looking
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended, including in respect of the
Company’s deregistration of ADSs representing its ordinary shares
under the Exchange Act. These forward-looking statements can be
identified by terminology such as “will”, “expects”, “anticipates”,
“future”, “intends”, “plans”, “believes”, “estimates”, “target”,
“going forward”, “outlook” and similar statements. Such statements
are based upon management’s current expectations and current market
and operating conditions and relate to events that involve known or
unknown risks, uncertainties and other factors, all of which are
difficult to predict and many of which are beyond the Company’s
control, which may cause the Company’s actual results, performance
or achievements to differ materially from those in the
forward-looking statements. Further information regarding these and
other risks, uncertainties or factors is included in the Company’s
filings with the U.S. Securities and Exchange Commission. The
Company does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events or otherwise, except as required under law.
For more information, please contact: Marianne
Bøe, Head of Investor Relations E-mail:
marianne.boe@idexbiometrics.com Tel: +47 91 80 01 86
About this notice This notice was published by
Erling Svela, Vice president of finance, on 11 August 2023 at 01:00
CET on behalf of IDEX Biometrics ASA. The information shall be
disclosed according to section 5‑8 of the Norwegian Securities
Trading Act (STA) and in accordance with section 5‑12 of the
STA.
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