ASLAN Pharmaceuticals Ltd (NASDAQ:ASLN) shares are trading lower by 38.7% to $0.68 during Wednesday's session after the company announced that its Singapore-incorporated, sole operating subsidiary has filed for voluntary liquidation.
The company says this decision was made following a thorough review of ASLAN SG's financial situation and strategic options. As a result, all employees of ASLAN SG and its subsidiary in the USA have been terminated.
The directors of ASLAN SG resolved that the subsidiary could not continue its business due to its liabilities. Luke Anthony Furler and Tan Kim Han of Quantuma (Singapore) Pte Limited were appointed as provisional liquidators to manage the winding up of ASLAN SG's affairs.
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They will seek strategic alternatives for ASLAN's development programs and assets, settle obligations, and distribute remaining proceeds to creditors and shareholders according to Singaporean law.
The parent company, ASLAN Pharmaceuticals, also resolved to apply for liquidation under Cayman law due to its liabilities. Previously, the company received a delisting notice from the Nasdaq Stock Market for failing to meet listing requirements and will move its trading to the over-the-counter market.
ASLN has a 52-week high of $25.44 and a 52-week low of $0.48.
ASLAN Pharmaceuticals Ltd(NASDAQ:ASLN)の株式は、同社のシンガポール法人及び唯一の事業子会社が自主的な清算を申請したことを発表した後、水曜日のセッションで38.7%下落し、0.68ドルで取引されています。
同社は、ASLAN SGの財務状況と戦略的オプションを慎重に検討した結果、この決定を下したと述べています。その結果、ASLAN SGおよび米国の子会社のすべての従業員は解雇されました。
ASLAN SGの役員らは、同子会社が債務不履行のためにビジネスを継続できないと判断しました。Quantuma (Singapore) Pte LimitedのLuke Anthony Furler氏及びTan Kim Han氏が暫定清算人に任命され、ASLAN SGの事務処理を管理することとなりました。
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彼らは、ASLANの開発プログラムと資産の戦略的オプションを探り、債務を解決し、残りの収益をシンガポール法に基づいて債権者と株主に分配することになります。
親会社であるASLAN Pharmaceuticalsは、同社が債務不履行でNasdaq Stock Marketから上場要件を満たせなかったことを理由に、ケイマン法に基づいて清算を申請するよう決議し、OTC市場に取引を移行します。
ASLNは、52週間の高値が25.44ドル、安値が0.48ドルです。