Xylo Technologies Announces Plan to Implement ADS Ratio Change

Tel Aviv, Israel, July 30, 2024 (GLOBE NEWSWIRE) -- Xylo Technologies Ltd. (Nasdaq: XYLO) (“Xylo” and the “Company”), a technology company engaged in advanced medical solutions, innovative internet technologies and electric vehicle (“EV”) and charging solutions, announced today that it plans a ratio change which will result in a reverse split of the Company’s American Depositary Receipt, or ADR, program on the basis of one (1) new ADS for every 2.666666 old ADSs held. As a result, the number of ordinary shares of the Company represented by each American Depositary Share, or ADS, will be changed from fifteen (15) ordinary shares to forty (40) ordinary shares. The effective date anticipated for the reverse split and the ratio change is August 5, 2024 and the Company’s ADSs will continue to be traded on the Nasdaq Capital Market under the symbol “XYLO” with a new CUSIP Number 58471G 508. The ordinary shares of Xylo will not be affected by this change in the ADS to ordinary share ratio.

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