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AENZA S.A.A announces a change in the ADS Ratio from one (1) ADS to five (5) common shares to one (1) ADS to fifteen (15) common shares, effective on or about November 22, 2022. This change equates to a one-for-three reverse share split, requiring ADS holders to exchange three existing ADSs for one new ADS. The move aims to enhance the trading price of ADSs, although there are no guarantees of this outcome. Fractional new ADSs will not be issued, with cash distributed for fractional entitlements. The underlying common shares remain unaffected.
AENZA S.A.A (NYSE:AENZ) has received a notice from the NYSE regarding non-compliance with the minimum average closing price requirement for its American Depositary Shares (ADSs). As of October 17, 2022, the average closing price was below $1.00 over a 30-day period. The company has six months to address this deficiency, during which it can regain compliance if its share price meets the required criteria. AENZA intends to change the ADS to ordinary shares ratio to rectify the issue and continues to monitor market conditions.
AENZA S.A.A (NYSE: AENZ) filed its annual report on Form 20-F for the fiscal year ending December 31, 2021, with the U.S. Securities and Exchange Commission on May 16, 2022. The report is accessible on the Company's website, providing comprehensive audited financial statements. Shareholders can request a hard copy of these statements at no cost. For further inquiries, investors are encouraged to contact the Investor Relations Department.