ADRs are certificates that may be issued by U.S. depositary banks to evidence one or more ADSs. ADSs represent shares of a non-U.S. Company deposited with a U.S. depositary bank..
Each Kazia ADS represents the right to receive, and to exercise the beneficial ownership interests in, 10 Kazia Shares that are on deposit with HSBC Custody Nominees (Australia) Limited (Custodian), the custodian appointed by the Depositary. The Depositary will be (directly or indirectly through the Custodian) the holder of the Shares underlying the ADSs.
Holders of ADSs do not have direct Shareholder rights. The Depositary holds, on the ADS holder’s behalf, the Shares underlying your ADSs. Holders of ADSs may exercise the rights attaching to the Shares represented by the ADSs through the Depositary to the extent contemplated in the deposit agreement (Deposit Agreement), a copy of which is available from the SEC’s website (www.sec.gov).
To exercise any rights attaching to Shares which are not contemplated under the Deposit Agreement, holders of ADSs will need to arrange for the cancellation of their ADSs so that they can become a direct Shareholder.