RedHill Biopharma Ltd. (Nasdaq: RDHL) (Tel-Aviv Stock Exchange: RDHL) (“RedHill” or the “Company”), a specialty biopharmaceutical company primarily focused on the commercialization and development of proprietary drugs for the treatment of gastrointestinal diseases, today announced that it will voluntarily delist its ordinary shares from trading on the Tel Aviv Stock Exchange (TASE).

Under Israeli law and the TASE rules, the delisting of RedHill’s ordinary shares from trading on the TASE will take place at least 90 days after the date of this announcement, which is expected to be on or about February 13, 2020.

RedHill's American Depositary Shares (ADSs), each of which represents 10 ordinary shares, will continue to trade on the Nasdaq Global Market under the symbol “RDHL”. The Company has confirmed that there is nothing to prevent the Company’s ordinary shares that are traded on the TASE from trading on the Nasdaq Global Market as ADSs representing ordinary shares shortly after the delisting from the TASE.

Micha Ben Chorin, RedHill’s Chief Financial Officer, said: “RedHill is proud to be an Israeli company, and our headquarters and management will remain in Tel Aviv. Over the last few years the focus of RedHill’s activities and trading has shifted to the U.S., and therefore our board has decided it would be in the best interest of the Company and its shareholders to consolidate trading on NASDAQ. We would like to thank the TASE for their support and collaboration over the years.”

RedHill urges all holders of its ordinary shares to convert their ordinary shares into ADSs through their banks or brokers. The Bank of New York Mellon, the Depositary of RedHill’s ADS program, has agreed to waive conversion and issuance fees for all shareholders who will convert their ordinary shares until the last trading day on the TASE. Holders of the Company's ordinary shares are encouraged to contact their banks or brokers with any questions about the conversion process.