Notice of Annual General Meeting to be held on December 3, 2024
Opera (NASDAQ: OPRA) has announced its 2024 Annual General Meeting (AGM) to be held on December 3, 2024, in Wroclaw, Poland. The main agenda includes a proposal for a share consolidation that would merge each two ordinary shares into one ordinary share. Following this, the American Depositary Shares (ADS) ratio will be adjusted from 1:2 to 1:1, effective December 6, 2024. The company emphasizes that these changes will not affect the number of ADSs outstanding or investor ownership percentages, and the effect on ADS value will be neutral. The changes aim to simplify Opera's share structure and make it easier for investors to analyze metrics based on outstanding shares.
Opera (NASDAQ: OPRA) ha annunciato la sua Assemblea Generale Annuale (AGM) del 2024, che si terrà il 3 dicembre 2024 a Wroclaw, Polonia. Il principale argomento all'ordine del giorno include una proposta di consolidamento delle azioni, che unirebbe ogni due azioni ordinarie in una sola azione ordinaria. Di conseguenza, il rapporto delle American Depositary Shares (ADS) verrà modificato da 1:2 a 1:1, a partire dal 6 dicembre 2024. La società sottolinea che queste modifiche non influiranno sul numero di ADS in circolazione né sulle percentuali di proprietà degli investitori, e l'impatto sul valore delle ADS sarà neutro. Le modifiche mirano a semplificare la struttura azionaria di Opera e a facilitare l'analisi degli investitori basata sulle azioni in circolazione.
Opera (NASDAQ: OPRA) ha anunciado su Asamblea General Anual (AGM) de 2024, que se llevará a cabo el 3 de diciembre de 2024 en Wroclaw, Polonia. La agenda principal incluye una propuesta de consolidación de acciones que fusionará cada dos acciones ordinarias en una sola acción ordinaria. Tras esto, la proporción de las American Depositary Shares (ADS) se ajustará de 1:2 a 1:1, con efecto a partir del 6 de diciembre de 2024. La empresa enfatiza que estos cambios no afectarán el número de ADS en circulación ni los porcentajes de propiedad de los inversionistas, y el efecto sobre el valor de las ADS será neutral. Los cambios buscan simplificar la estructura accionaria de Opera y facilitar a los inversionistas el análisis de métricas basadas en las acciones en circulación.
Opera (NASDAQ: OPRA)는 2024년 정기 주주총회(AGM)를 2024년 12월 3일 폴란드 브로츠와프에서 개최한다고 발표했습니다. 주요 의제는 두 개의 보통주를 하나의 보통주로 통합하는 주식 통합 제안입니다. 그에 따라 미국 예탁주식(ADS) 비율이 1:2에서 1:1로 조정되며, 2024년 12월 6일부터 적용됩니다. 회사는 이러한 변화가 발행 중인 ADS의 수나 투자자의 소유 비율에 영향을 미치지 않을 것이며, ADS의 가치에 대한 영향이 중립적 일 것이라고 강조합니다. 이러한 변화는 Opera의 주식 구조를 단순화하고, 투자자들이 발행 주식 기반으로 지표를 분석하기 쉽게 만드는데 목적을 두고 있습니다.
Opera (NASDAQ: OPRA) a annoncé son Assemblée Générale Annuelle (AGM) de 2024, qui se tiendra le 3 décembre 2024 à Wroclaw, Pologne. Le principal point à l'ordre du jour comprend une proposition de consolidation des actions qui fusionnera chaque deux actions ordinaires en une seule action ordinaire. Par la suite, le ratio des American Depositary Shares (ADS) sera ajusté de 1:2 à 1:1, à compter du 6 décembre 2024. L'entreprise souligne que ces changements n'affecteront pas le nombre d'ADS en circulation ni le pourcentage de propriété des investisseurs, et l'impact sur la valeur des ADS sera neutre. Ces ajustements visent à simplifier la structure actions d'Opera et à faciliter l'analyse des métriques par les investisseurs basées sur les actions en circulation.
Opera (NASDAQ: OPRA) hat die Einberufung seiner Hauptversammlung (AGM) für 2024 bekannt gegeben, die am 3. Dezember 2024 in Wroclaw, Polen, stattfinden wird. Hauptpunkt auf der Tagesordnung ist ein Vorschlag zur Aktienkonsoildierung, der vorsieht, dass zwei ordentliche Aktien zu einer ordentlichen Aktie zusammengelegt werden. Infolgedessen wird das Verhältnis der American Depositary Shares (ADS) von 1:2 auf 1:1 angepasst, wirksam ab dem 6. Dezember 2024. Das Unternehmen betont, dass diese Änderungen keinen Einfluss auf die Anzahl der ausgegebenen ADSs oder die Eigentumsanteile der Anleger haben werden, und der Einfluss auf den Wert der ADS neutral sein wird. Die Änderungen zielen darauf ab, die Aktienstruktur von Opera zu vereinfachen und es Investoren zu erleichtern, Kennzahlen basierend auf den ausgegebenen Aktien zu analysieren.
- Share structure simplification to improve investor understanding
- No impact on investor ownership percentages or ADS value
- None.
Insights
The proposed share consolidation and ADS ratio change represents a neutral technical adjustment to Opera's share structure. The 2:1 consolidation will merge two ordinary shares into one, while adjusting the ADS ratio from 1:2 to 1:1, maintaining equivalent ownership percentages and market value for investors.
This administrative change aims to reduce confusion around share counts and earnings metrics by simplifying the relationship between ordinary shares and ADSs. While the move shows good corporate governance in improving transparency, it has no material financial impact on the company or shareholders. The December 6, 2024 implementation requires majority shareholder approval at the upcoming AGM.
(or any adjourned or postponed meeting thereof)
The agenda for this year's AGM is:
- A proposal of share consolidation of the Company's ordinary shares at a ratio of consolidating each two ordinary shares into one ordinary share of the Company (the "Share Consolidation"), to simplify our share structure as further described below, will be submitted to Opera's shareholders to be considered and voted upon at the AGM.
- To transact such other business as may properly come before the 2024 AGM of Shareholders or any adjournment or postponement thereof.
The Company's American depositary shares ("ADSs") that trade on Nasdaq each represent two (2) underlying ordinary shares in the Company. There are no other share classes in the Company – only ordinary shares. The Company has observed some confusion as it relates to ordinary shares versus ADSs, both in terms of ownership percentages, and earnings per share versus earnings per ADS. To simplify, we propose a Share Consolidation to merge each two ordinary shares into one ordinary share, following which the ratio between shares and ADSs can then be changed to be one-to-one (1:1). Subject to the approval of the Share Consolidation at the AGM, Opera's board of directors (the "Board") has approved a change in the ADS ratio proportionate to the Share Consolidation, from one (1) ADS representing two (2) ordinary shares to become one (1) ADS representing one (1) ordinary share (the "ADS Ratio Change"), to take effect on December 6, 2024 (the "Effective Date"). Holders of ADSs need not take any action in regard to the ADS Ratio Change.
The Share Consolidation and ADS Ratio Change collectively will not affect the number of ADSs outstanding or any investor's ownership percentage in the Company. As such, the effect of these changes on the value of each ADS in the Company, as traded on Nasdaq, is neutral. These changes are also neutral for Opera's pre-IPO majority investor. By simplifying our share structure, we will make it easier for our investors to analyze and understand metrics based on the number of shares outstanding.
The Board has fixed the close of business on November 1, 2024 (Eastern Daylight Time) as the record date (the "Record Date") for determining the shareholders entitled to receive notice of, and to attend, the AGM or any adjourned or postponed meeting thereof. Holders of record of the Company's ordinary shares, at the close of business on the Record Date are entitled to notice of, and to vote at, the AGM or any adjournment or postponement thereof. Holders of the Company's ADSs who wish to exercise their voting rights for the underlying ordinary shares must act through the depositary of the Company's ADS program, The Bank of New York Mellon. The notice of the AGM, which sets forth the resolutions to be submitted to shareholder approval at the meeting, is available on the Company's website at investor.opera.com. The proposed Share Consolidation is subject to a simple majority vote.
Shareholders and ADS holders may obtain a copy of the Company's annual report on Form 20-F, free of charge, from the Company's website at investor.opera.com/sec-filings.
About Opera
Opera is a user-centric and innovative software company focused on enabling the best possible internet browsing experience across all devices. Hundreds of millions use the Opera web browsers for their unique and secure features on their mobile phones and desktop computers. Founded in 1995, and headquartered in
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SOURCE Opera Limited
FAQ
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