iSonea Limited Announces Free Issuance Period for Conversion of KMLXF Shares to ISOAY ADRs
- KMLXF shares can be bundled into ISOAY ADRs at no charge
- BNY Mellon waives bundling fees February 1, 2013 to May 1, 2013
Severna Park, MD – January 9, 2013: Medical technology company iSonea Limited (ASX: ISN), (OTCQX: ISOAY), (OTC: KMLXF), announces a free issuance period through the Bank of New York Mellon whereby KMLXF shareholders may bundle their shares into American Depository Receipts (ADRs) to trade under the ISOAY symbol. The bundling fee will be waived by the Bank of New York Mellon for three months starting February 1, 2013 and ending on May 1, 2013.
iSonea Limited trades its ordinary shares on the Australian Stock Exchange under the ISN symbol. Each ISOAY ADR consists of a bundle of 500 ordinary shares.
The KMLXF shares represent ordinary Australian shares of ISN (formerly Karmelsonix) that have been settled in US dollars. Investors who still have KMLXF shares will be able on February 1 to convert those into iSonea ADRs with no fee charged.
Conversion of the KMLXF shares allows US investors to freely trade ADRs. This avoids costs and complexities, including currency exchange fluctuations, involved in buying shares on foreign exchanges.
"This is an excellent opportunity for our U.S. investors to bundle their KMLXF shares into ISOAY ADRs, for which we anticipate increased trading volume over time," said Michael Thomas, CEO of iSonea Limited. "BNY Mellon has graciously offered to waive the bundling fee for our shareholders for a three month period. We encourage all interested KMLXF shareholders to visit our website or contact BNY Mellon to take advantage of this opportunity."
Investors holding KMLXF shares who are interested in bundling their shares into the ISOAY ADRs should contact the Company’s transfer agent, The Bank of New York Mellon:
Bank of New York Mellon Depository Receipts
For further information, please contact:
Michael J. Thomas
Chief Executive Officer
About iSonea Limited:
iSonea Limited (ASX:ISN; OTCQX:ISOAY) is an emerging medical technology company developing innovative, non-invasive devices and mobile health apps to improve the management of chronic, costly respiratory disorders such as asthma and COPD. By leveraging iSonea’s proprietary Acoustic Respiratory Monitoring™ (ARM) technology with its AsthmaSense™ mobile applications, iSonea is creating a better monitoring system—enabling anyone, anywhere, at any time to monitor breathing distress symptoms, in order to take action. iSonea’s ARM devices have been cleared for use by the U.S. Food and Drug Administration, the Australian TGA and the European Union. For more information, please visit www.soundasthma.com or www.iSoneaMed.com.
Forward Looking Statements
Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on iSonea’s current expectations, estimates and projections about the industry in which iSonea operates, and its beliefs and assumptions. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "guidance" and similar expressions are intended to identify forward-looking statements and should be considered an at-risk statement. Such statements are subject to certain risks and uncertainties, particularly those risks or uncertainties inherent in the process of developing technology and in the endeavour of building a business around such products and services. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond the control of iSonea, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. iSonea cautions shareholders and prospective shareholders not to place undue reliance on these forward-looking statements, which reflect the view of iSonea only as of the date of this release. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. iSonea will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.