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Pharmaxis confirms ADR position and deposits with the Bank Of New York
Sydney, Nov 10, 2005 (ABN Newswire) - Pharmaxis (ASX: PXS) is undertaking a public offering of ordinary shares in the form of American Depositary Shares in the United States.
In anticipation of the closing of the public offering in the United States, the Company has issued 19,500,000 ordinary shares and has deposited them with The Bank of New York as depositary agent. The Bank of New York will in turn issue 1,300,000 American Depositary Shares which will be sold in the public offering in the United States.
About PHARMAXIS LTD
The company is a specialist pharmaceutical company committed to the research, development and commercialisation of human therapeutic products for chronic respiratory and autoimmune diseases and the development of an improved lung function test.
About SOUTHERN GOLD LIMITED
Gold, nickel and base metal mineral exploration
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