New Liberty Shares Begin Trading on Nasdaq Post Old Liberty’s Delisting

Transition of New Liberty Shares

Today marked the commencement of New Liberty shares trading on the Nasdaq exchange, utilizing the same tickers previously associated with Old Liberty. This transition followed a court-sanctioned share issuance scheme, leading to Old Liberty’s delisting on November 22. Over 388 million shares were distributed across three classes to shareholders of Old Liberty, following an exemption from registration requirements.

Key Executives and Equity Awards

Key executives, including Michael T. Fries, have retained their positions in the newly formed company, with director terms established until 2026. The biographies of these executives remain accessible through prior SEC filings and online resources. Moreover, New Liberty has executed equity award conversions for outstanding awards under Old Liberty’s incentive plans into New Liberty’s stock, preserving the original conditions of these awards.

Indemnification Agreements and PetVivo Holdings Appeal

New Liberty has put indemnification agreements in place to shield its directors and officers from any liabilities related to their roles during this corporate transition. In related news, PetVivo Holdings has filed an appeal today with the Hearings Panel in an effort to reverse the Nasdaq’s delisting decision. This action comes after PetVivo was notified last week that it had not met the minimum stockholders’ equity requirement as per Listing Rule 5550(b)(1), reflected in its recent Form 10-Q filing. If the panel does not intervene by Tuesday, November 28, PetVivo will face security suspension and commencement of delisting procedures.

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