Eco Wave Power Global AB announced it plans to apply for delisting from Nasdaq First North Growth Market as it shifts attention to its recent listing on the Nasdaq Capital Market in the United States . The formal application for delisting will be submitted to Nasdaq First North no earlier than three months from today.
When finalizing the decision to delist Eco Wave Power’s common shares, the Board of Directors of the Company (the “Board”) considered the higher liquidity of Eco Wave Power’s securities on the Nasdaq U.S. in comparison to Nasdaq First North, as well as the desire to have all of its shares traded on one main stock exchange. The Board has chosen to focus on growing in the American market where the Company has had American Depositary Shares (ADSs) trading since July 2021.
The Company reminds its shareholders that they can convert their common shares into ADSs listed on the Nasdaq Capital Market.
The Company has also reached an agreement with The Bank of New York Mellon, the depository of the ADSs, to enable all shareholders on Nasdaq First North to convert their shares to ADSs, free of charge, for ninety (90) days from the date of the Company’s submission of its delisting application to Nasdaq First North.
