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CADOUX LIMITED Capital/Financing Update 2005
64620_rns_2005-04-21_96278103-35a7-423e-868b-825a1ba1b2fd.pdf
Capital/Financing Update
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SOLBEC ADR PROGRAM NOW EFFECTIVE
Summary:
Solbec's American Depository Receipt program is now active with receipts tradable in the OTC market in the USA.
Perth, Australia. 22 April 2005. Solbec is pleased to announce that its Level 1 American Depository Receipt (ADR) program is now effective with receipts tradable in the over-thecounter (OTC) market under the code SLBPY.
The ADR program will make Solbec more accessible to US private investors and is a vehicle with which to ensure liquidity in the stock for an US investor base. An ADR program also creates the possibility of investment by institutions that are only permitted to buy US based securities.
An ADR is created when a broker purchases a company's shares on the home stock market and delivers those to the depositary's local custodian bank, which then instructs the depositary bank, The Bank of New York in the case of the Solbec program, to issue Depositary Receipts. Depositary receipts may trade freely, like any other security, in the OTC market.
Further information:
Stephen Carter Managing Director / CEO Solbec Pharmaceuticals Ltd Phone +61 (08) 9323 7731 / 0418 912 843 [email protected]
Media: Rebecca Christie Phone: +61 (02) 9237 2800 / 0417 382 391 [email protected]
Background Information
Solbec Pharmaceuticals
Solbec Pharmaceuticals Ltd identifies naturally-occurring compounds with potential in the development of better therapies for debilitating conditions and life-threatening diseases. The company is currently progressing its key project, Coramsine™, through Phase I/IIA clinical trials for the treatment of advanced solid tumours, and as a topical treatment for psoriasis. Solbec's two proprietary ingredients in CoramsineTM were isolated from the fruit of a weed known as the Devil's Apple (Solanum linnaeanum). They show activity against some cancers and cause potentially therapeutic changes to the immune system. In addition to human health, Coramsine™ has potential application in the areas of animal health and diagnostics. Solbec's business strategy is to partner or out-license Coramsine™ for the final stages of pre-commercial development and marketing.
www.solbec.com.au