tiziana life sciences plc said friday that it will delist its old shares from the main market of the london stock exchange and nasdaq and that its new shares will only trade on nasdaq following its corporate reorganization the biotechnology company said it has formally started its strategic plan to change its corporate structure and that the groups parent company will be tiziana life sciences ltd which will be incorporated in bermuda under part 26 of the companies act 2006 holders of ordinary shares in old tiziana will receive shares in new tiziana and that these will be directly listed on nasdaq it said the board said england wasnt the most appropriate domicile for the parent company because it isnt possible to directly list shares of english companies on nasdaq following a review of the appropriate places of listing and domicile for the parent company of the tiziana group the board of directors of old tiziana has concluded that the interests of its business and shareholders are best served by aligning the place of the listing with the principal business activities of the tiziana group which are predominately based in the us the company said shares at 0720 gmt were down 5 pence or 86 at 53 pence