FLJ Group Limited Announces Plan to Implement ADS Ratio Change
01 Diciembre 2023 - 4:00PM
FLJ Group Limited (NASDAQ: FLJ) (the “Company”) today announced
that it plans to change the ratio of the American depositary shares
(“ADSs”) representing its Class A ordinary shares from one (1) ADS
representing fifteen thousand (15,000) Class A ordinary share to
one (1) ADS representing six hundred thousand (600,000) Class A
ordinary shares.
For the ADS holders, the change in the ADS ratio
will have the same effect as a one-for-forty reverse ADS split.
There will be no change to the Company’s Class A ordinary shares.
The effect of the ratio change on the ADS trading price on the
Nasdaq Global Market is expected to take place at the open of
trading on December 7, 2023 (U.S. Eastern Time) (the “Effective
Date”). Holder of ADSs will be required on a mandatory basis to
surrender their old ADSs to the Company’s depositary, The Bank of
New York Mellon (the “Depositary”), in exchange for every forty
(40) then-held (old) ADSs to receive one (1) new ADS. The ADSs will
continue to be traded on Nasdaq Global Market under the symbol
“FLJ.”
No fractional new ADSs will be issued in
connection with the change in the ADS ratio. Instead, fractional
entitlements to new ADSs will be aggregated and sold by the
Depositary and the net cash proceeds from the sale of the
fractional ADS entitlements (after deduction of fees, taxes and
expenses) will be distributed to the applicable ADS holders by the
Depositary.
As a result of the change in the ADS ratio, the
ADS price is expected to increase proportionally, although the
Company can give no assurance that the ADS price after the change
in the ADS ratio will be equal to or greater than forty times the
ADS price before the change.
For investor and media inquiries, please
contact:
FLJ Group Limited
E-mail: ir@qk365.com
Christensen
In ChinaMr. Rene VanguestainePhone: +86-10-5900-1548E-mail:
rene.vanguestaine@christensencomms.com
In U.S.Ms. Linda BergkampPhone: +1-480-614-3004Email:
linda.bergkamp@christensencomms.com
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