Summary by Moomoo AI
Redhill Biopharma Ltd. has issued a clarification regarding its Proxy Statement for the upcoming Annual General Meeting of Shareholders scheduled for September 17, 2024. The clarification pertains to proposals 3, 4, and 5, which involve the grant of restricted share units (RSUs) to non-executive directors, CEO and Chairman Dror Ben-Asher, and Chief Commercial Officer Rick D. Scruggs. The company announced a ratio change of its American Depositary Shares (ADSs) to ordinary shares, effective August 20, 2024, which has the same effect as a one-for-25 reverse ADS split. Consequently, the number of ADSs referenced in the RSU grant proposals has been adjusted to reflect this change, with the amounts of RSUs proposed for each individual recalculated accordingly. This Form 6-K, dated September 5, 2024, is incorporated by reference into the company's Registration Statements filed with the SEC.