HeartWare International Announces Intention To Delist From Australian Securities Exchange (ASX)

    HeartWare International Announces Intention To Delist From Australian
                          Securities Exchange (ASX)

PR Newswire

FRAMINGHAM, Mass. and SYDNEY, June 12, 2013

FRAMINGHAM, Mass. and SYDNEY, June 12, 2013 /PRNewswire/ -- HeartWare
International, Inc.(NASDAQ:HTWR - ASX:HIN), today announced that it has
requested and received approval from ASX Limited for its removal from the
official list of ASX. Trading in HeartWare's CHESS Depositary Interests
(CDIs) will be suspended on ASX at the close of market on September 10, 2013.

HeartWare's shares of common stock are currently listed for trading on the
NASDAQ Global Select Market (NASDAQ) under the symbol HTWR and HeartWare's
CDIs are traded on the ASX under the code HIN. One share of HeartWare common
stock is equivalent to 35 CDIs.

ASX has advised that in accordance with the Company's request, it will remove
the Company from the official list of ASX with effect from the close of
trading on September 17, 2013 subject to HeartWare providing a voluntary sale
facility through which holders of CDIs may sell their shares of common stock
on NASDAQ (as described below) and notifying CDI holders of the availability
of the sale facility. HeartWare's common stock will continue to be listed on
NASDAQ.

Background on decision to delist

HeartWare Limited was admitted to the official list of ASX in 2005 and was
replaced as the ASX listed entity by HeartWare following its redomiciliation
in the United States in 2008. Since HeartWare's listing on NASDAQ in 2009,
there has been a substantial shift in the trading volume of its securities
from ASX to NASDAQ, which has culminated in more than 99% of the total trading
volume of HeartWare's securities occurring on NASDAQ and less than 1% of its
trading volume occurring on ASX since January 1, 2013. In addition, CDIs now
only represent approximately 5% of HeartWare's issued and outstanding capital
with the vast majority of its capital being held as common stock traded on
NASDAQ. As a result, HeartWare has determined that sustaining the
administrative costs of an ASX listing, including the higher level of
regulatory compliance costs associated with dual listings, is difficult to
justify and, accordingly, has made the decision to delist from ASX.

Delisting process

Prior to suspension of trading in HeartWare's CDIs on ASX, HeartWare will send
each CDI holder a letter which will provide an overview of the delisting
process as well as details of the following options which will be available to
CDI holders:

  othe continued right to sell their CDIs on ASX until trading of CDIs is
    suspended from the official list of ASX (expected September 10, 2013);
  oa Voluntary Sale Facility that will be established by the Company to
    enable CDI holders to sell the shares of common stock underlying their
    CDIs on NASDAQ for a period of three months following the date of
    HeartWare's removal from the official list of ASX (expected for the period
    between September 18, 2013 to December 18, 2013);
  othe continued right to convert their CDIs into shares of common stock
    until the end of the Voluntary Sale Facility (expected on or around
    December 18, 2013); and
  othe compulsory sale of remaining shares of common stock underlying the
    CDIs during the nine day period following the close of the Voluntary Sale
    Facility (expected to occur between December 19, 2013 and December 27,
    2013).

About HeartWare International

HeartWare International develops and manufactures miniaturized implantable
heart pumps, or ventricular assist devices, to treat Class IIIB / IV patients
suffering from advanced heart failure. The HeartWare^® Ventricular Assist
System features the HVAD^® pump, a small full-support circulatory assist
device designed to be implanted next to the heart, avoiding the abdominal
surgery generally required to implant competing devices. The HeartWare System
is approved in the United States for the intended use as a bridge to cardiac
transplantation in patients who are at risk of death from refractory end-stage
left ventricular heart failure, has received CE Marking in the European Union
and has been used to treat patients in 30 international countries. The device
is also currently the subject of a U.S. clinical trial for destination
therapy. For additional information, please visit the Company's website at
www.heartware.com.

HeartWare International, Inc. is a member of the Russell 2000^® and its
securities are publicly traded on The NASDAQ Stock Market and the Australian
Securities Exchange.

HEARTWARE, HVAD, MVAD and HeartWare logos are registered trademarks of
HeartWare, Inc.

Forward-Looking Statements

This announcement contains forward-looking statements that are based on
management's beliefs, assumptions and expectations and on information
currently available to management. All statements that address events or
developments that we expect or anticipate will occur in the future are
forward-looking statements, including without limitation our expectations with
respect to the removal of CDIs from the official list of ASX, the delisting
process, trading of our securities on NASDAQ and ASX, and the overall
performance of HeartWare and HeartWare securities. Management believes that
these forward-looking statements are reasonable as and when made. However,
you should not place undue reliance on forward-looking statements because they
speak only as of the date when made. HeartWare does not assume any obligation
to publicly update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. HeartWare may not
actually achieve the plans, projections or expectations disclosed in
forward-looking statements, and actual results, developments or events could
differ materially from those disclosed in the forward-looking statements.
Forward-looking statements are subject to a number of risks and uncertainties,
including without limitation those described in Part I, Item 1A. "Risk
Factors" in HeartWare's Annual Report on Form 10-K filed with the Securities
and Exchange Commission. HeartWare may update risk factors from time to time
in Part II, Item 1A "Risk Factors" in Quarterly Reports on Form 10-Q, Current
Reports on Form 8-K, or other filings with the Securities and Exchange
Commission.

For further information:
Christopher Taylor
HeartWare International, Inc.
Email: ctaylor@heartwareinc.com
Phone: +1 508 739 0864

SOURCE HeartWare International, Inc.

Website: http://www.heartware.com
 
Press spacebar to pause and continue. Press esc to stop.