PLL spelt it out this time "Upon completion of the Transaction,...

PLL spelt it out this time "Upon completion of the Transaction, each Piedmont Lithium Chess Depository Interest (“CDI”) will be converted into
5.27 Sayona ordinary shares or 0.0351 Sayona ordinary shares if the reverse stock split is completed prior to the
Transaction. Each share of Piedmont Lithium common stock will be converted into 527 Sayona ordinary shares or 3.51
Sayona ordinary shares if the reverse stock split is completed prior to the Transaction. In addition to the 1-for-150
2
ratio, the proposed listing of Sayona American Depository Shares (“ADS”) on the Nasdaq will be issued at a ratio of 1-
for-10 post the reverse stock split.