With the cancellation of the listing on the London Stock Exchange, shareholders may deposit their ordinary shares with the company’s depositary bank, The Bank of New York, in exchange for American depositary receipts, or ADRs, which are traded on Nasdaq, or trade their ordinary shares on the TASE.
XTL has further announced that issuances of ADRs by the Bank of New York will be processed free of the customary charges of the Bank of New York for an additional month, through November 30, 2007. The Bank of New York will issue ADRs representing ADSs, if shareholders or their broker deposit Ordinary Shares with The Bank of New Yorks Custodian, either the Tel Aviv office of Bank Hapoalim, or the London office of The Bank of New York. One ADR will represent an ownership interest in ten of the company’s ordinary shares.