OKYO Pharma Ltd (LSE:OKYO, NASDAQ:OKYO), which is developing OK-101 to treat dry eye disease, has applied to cancel its listing on the standard segment on the London Stock Exchange.
The company's American Depositary Shares (ADSs) traded on Nasdaq will not be unaffected by the move. The UK de-listing will be effective from 12 May.
OKYO also said it plans to ask shareholders to combine every 65 regular shares into one new share. Then, it will replace its current ADSs with the new shares on Nasdaq. This change will happen automatically for ADS holders, who don't need to do anything.