Gravitas Education Holdings, Inc. Announces ADS Ratio Change
- The change in the ADS ratio will have the same effect as a one-for-two forward ADS split.
- Registered holders of the Company's ADSs will receive one additional ADS for each ADS held.
- The Company's ADSs will continue to be traded on the NYSE under the symbol 'GEHI'.
- The ADS Ratio Change will have no impact on the Company's underlying ordinary shares.
For the Company's ADS holders, the change in the ADS ratio will have the same effect as a one-for-two forward ADS split, with registered holders of the Company's ADSs held via the Direct Registration System or in the Depository Trust Company as of October 30, 2023, receiving, on the Effective Date, one additional ADS for each ADS held. Citibank, N.A., the depositary bank of the Company's ADS program, will arrange for the distribution of additional ADSs issuable pursuant to the ADS Ratio Change to registered holders of the Company's ADSs. The Company's ADS holders need not take any action with regards to the ADS Ratio Change. The Company's ADSs will continue to be traded on the NYSE under the symbol "GEHI." The ADS Ratio Change will have no impact on the Company's underlying ordinary shares, and no ordinary shares will be issued or cancelled in connection with the ADS Ratio Change.
The Company previously announced that the Company's board of directors approved a special cash dividend in the amount arranging from
About Gravitas Education Holdings, Inc.
Founded on the core values of "Care" and "Responsibility," "Inspire" and "Innovate," Gravitas Education Holdings, Inc. (formerly known as RYB Education, Inc.) is a leading early childhood education service provider in China. Since opening its first play-and-learn center in 1998, the Company has grown and flourished with the mission to provide high-quality, individualized and age-appropriate care and education to nurture and inspire each child for his or her betterment in life. During its two decades of operating history, the Company has built itself into a well-recognized education brand and helped bring about many new educational practices in
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the
CONTACT: Gravitas Education Holdings, Inc., Investor Relations, E-mail: ir@geh.com.cn
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SOURCE Gravitas Education Holdings Inc.
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