Meta Data Limited Announces Planned ADS Ratio Change
Meta Data (NYSE: AIU) has announced plans to change its American Depositary Shares (ADS) ratio from 1 ADS representing 2 Class A ordinary shares to 1 ADS representing 10 Class A ordinary shares. The change is expected to take effect on July 29, 2024, at the open of trading on the New York Stock Exchange. There will be no change to the company's Class A ordinary shares.
ADS holders of record on the effective date will need to surrender their ADS for cancellation and exchange. The company's ADSs will continue to trade under the symbol 'AIU'. Fractional new ADSs will not be issued; instead, they will be aggregated, sold, and the net proceeds distributed to applicable ADS holders. The ADS price is expected to increase proportionally, although this is not guaranteed.
Meta Data (NYSE: AIU) ha annunciato piani per modificare il proprio rapporto delle American Depositary Shares (ADS) da 1 ADS che rappresenta 2 azioni ordinarie di Classe A a 1 ADS che rappresenta 10 azioni ordinarie di Classe A. Il cambiamento dovrebbe entrare in vigore il 29 luglio 2024, all'apertura delle contrattazioni sulla Borsa di New York. Non ci sarà alcuna modifica alle azioni ordinarie di Classe A della società.
Gli azionisti di ADS registrati alla data di entrata in vigore dovranno restituire le loro ADS per cancellazione e scambio. Le ADS della società continueranno a essere scambiate con il simbolo 'AIU'. Non verranno emesse frazioni di nuove ADS; piuttosto, saranno aggregate, vendute e il ricavato netto distribuito agli azionisti di ADS applicabili. Si prevede che il prezzo delle ADS aumenti proporzionalmente, anche se ciò non è garantito.
Meta Data (NYSE: AIU) ha anunciado planes para cambiar la relación de sus American Depositary Shares (ADS) de 1 ADS que representa 2 acciones ordinarias Clase A a 1 ADS que representa 10 acciones ordinarias Clase A. Se espera que el cambio entre en vigencia el 29 de julio de 2024, al inicio de las operaciones en la Bolsa de Nueva York. No habrá cambios en las acciones ordinarias Clase A de la empresa.
Los titulares de ADS registrados en la fecha de efectividad necesitarán entregar sus ADS para cancelación e intercambio. Las ADS de la empresa seguirán cotizando bajo el símbolo 'AIU'. No se emitirán fracciones de nuevas ADS; en su lugar, se agregarán, se venderán y los ingresos netos se distribuirán a los titulares de ADS aplicables. Se espera que el precio de las ADS aumente proporcionalmente, aunque esto no está garantizado.
메타 데이터 (NYSE: AIU)는 미국 예탁 주식(ADS)의 비율을 1 ADS가 2 클래스 A 보통주를 나타내는 것에서 1 ADS가 10 클래스 A 보통주를 나타내는 것으로 변경할 계획을 발표했습니다. 이 변경은 2024년 7월 29일 뉴욕 증권거래소에서 거래 개시와 함께 시행될 예정입니다. 회사의 클래스 A 보통주는 변동이 없습니다.
효력 발생일 기준으로 ADS 보유자는 자신의 ADS를 취소 및 교환을 위해 제출해야 합니다. 회사의 ADS는 'AIU' 기호 하에 계속 거래됩니다. 새로운 ADS의 분수는 발행되지 않으며, 대신 집계하여 판매하고 이를 통해 얻은 순익은 관련 ADS 보유자에게 분배됩니다. ADS 가격은 비례적으로 증가할 것으로 예상되지만, 이는 보장되지 않습니다.
Meta Data (NYSE: AIU) a annoncé des plans pour modifier le ratio de ses American Depositary Shares (ADS) de 1 ADS représentant 2 actions ordinaires de Classe A à 1 ADS représentant 10 actions ordinaires de Classe A. Ce changement devrait entrer en vigueur le 29 juillet 2024, à l'ouverture des marchés à la Bourse de New York. Il n'y aura aucun changement concernant les actions ordinaires de Classe A de la société.
Les détenteurs d'ADS inscrits à la date d'effet devront rendre leurs ADS pour annulation et échange. Les ADS de la société continueront à être négociées sous le symbole 'AIU'. Aucune fraction de nouvelles ADS ne sera émise ; elles seront plutôt agrégées, vendues et le produit net sera distribué aux détenteurs d'ADS concernés. Il est prévu que le prix des ADS augmente proportionnellement, bien que cela ne soit pas garanti.
Meta Data (NYSE: AIU) hat Pläne angekündigt, das Verhältnis seiner American Depositary Shares (ADS) von 1 ADS, das 2 Stammaktien der Klasse A repräsentiert, auf 1 ADS, das 10 Stammaktien der Klasse A repräsentiert, zu ändern. Die Änderung wird voraussichtlich am 29. Juli 2024 zu Handelsbeginn an der New Yorker Börse wirksam.
ADS-Inhaber, die zum Zeitpunkt des Inkrafttretens aufgeführt sind, müssen ihre ADS zur Stornierung und Umtausch einreichen. Die ADS des Unternehmens werden weiterhin unter dem Symbol 'AIU' gehandelt. Es werden keine Bruchstücke neuer ADS ausgegeben; stattdessen werden diese aggregiert, verkauft und der Nettogewinn an die entsprechenden ADS-Inhaber verteilt. Es wird erwartet, dass der Preis der ADS proportional steigt, obwohl dies nicht garantiert ist.
- Potential increase in ADS trading price due to ratio change
- Continued listing on NYSE under existing symbol 'AIU'
- Potential administrative burden for ADS holders to exchange their shares
- Possible fractional share sales may result in small cash distributions instead of shares for some holders
Hong Kong, July 19, 2024 (GLOBE NEWSWIRE) -- Meta Data Limited (“Meta Data” or the "Company") (NYSE: AIU) today announced that it plans to change the ratio of its American depositary shares ("ADSs"), which currently is one (1) ADS representing two (2) Class A ordinary shares. The new ratio is expected to be one (1) ADS representing ten (10) Class A ordinary shares.
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 New York Stock Exchange (the "NYSE") is expected to take place at the open of trading on July 29, 2024 (U.S. Eastern Time). ADS holders of record on the effective date will need to surrender their ADS to the depositary bank for cancellation and exchange in connection with the ADS ratio change, with further details to be provided in the notice by the depositary bank. As of the effective date for the ADS ratio change. the Company’s ADSs will continue to be traded on the NYSE under the symbol "AIU".
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 bank 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 bank.
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 the ADS price on a proportionate basis.
Safe Harbor Statement
This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Meta Data may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about Meta Data’s beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and Meta Data does not undertake any obligation to update such information, except as required under applicable law.
About Meta Data
Founded in 2008 and headquartered in Hong Kong, Meta Data (formerly known as OneSmart International Education Group Limited) is a holding company, which engages in the provision of artificial intelligent education and artificial intelligent universe IAAS services. It operates through the following subsidiaries: Metaverse Information Technology Limited in Hong Kong and Metaverse Digital Technology Co., Limited in Wyoming, United States. For more information, visit www.aiumeta.com.
For more information, please contact:
Meta Data
Chee Jiong Ng
E-mail: ir@aiumeta.com
FAQ
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