Trip.com Group Announces Results of Extraordinary General Meeting on March 18, 2021

Rhea-AI Summary

Trip.com Group Limited (Nasdaq: TCOM) announced that its extraordinary general meeting held on March 18, 2021, resulted in the adoption of a resolution for a share subdivision. Each ordinary share of nominal value US$0.01 will be subdivided into eight shares of nominal value US$0.00125, effective March 18, 2021. Concurrently, the ADS ratio will change from eight ADSs representing one ordinary share to one ADS representing one ordinary share. This adjustment is neutral in impact on the ADS holders' interests, requiring no action on their part.

Positive

• Share subdivision increases share liquidity by reducing nominal value per share.
• ADS ratio adjustment maintains proportional interest for shareholders.

Negative

• None.

SHANGHAI, March 18, 2021 /PRNewswire/ -- Trip.com Group Limited (Nasdaq: TCOM) ("Trip.com Group" or the "Company"), a leading one-stop travel service provider of accommodation reservation, transportation ticketing, packaged tours and corporate travel management, today announced that the following proposed resolutions submitted for shareholder approval has been adopted as an ordinary resolution at its extraordinary general meeting of shareholders held in Shanghai today:

Each of the Company's issued and unissued ordinary shares of a nominal or par value of US$0.01 each in the capital of the Company be and is hereby subdivided into eight (8) ordinary shares of a nominal or par value of US$0.00125 each in the capital of the Company, effective from March 18, 2021 ("Share Subdivision").

The Company also announced that, concurrently with the effectiveness of the Share Subdivision, the ratio of ADS to ordinary share will be adjusted from eight (8) ADSs representing one (1) ordinary share to one (1) ADS representing one (1) ordinary share (the "ADS Ratio Change"). Accordingly, for Trip.com Group's ADS holders, because the Share Subdivision and ADS Ratio Change are exactly proportionate, the percentage interest in the Company represented by each ADS will not be altered, and the impact on the Company's per-ADS trading price on Nasdaq is neutral. Holders of ADSs need not take any action in regard to the ADS Ratio Change.

About Trip.com Group Limited

Trip.com Group Limited (Nasdaq: TCOM) is a leading one-stop travel service provider consisting of Trip.com, Ctrip, Skyscanner, and Qunar. Across its platforms, Trip.com Group enables local partners and travelers around the world to make informed and cost-effective bookings for travel products and services, through aggregation of comprehensive travel-related information and resources, and an advanced transaction platform consisting of mobile apps, Internet websites, and 24/7 customer service centers. Founded in 1999 and listed on Nasdaq in 2003, Trip.com Group has become one of the largest travel companies in the world in terms of gross merchandise value.

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SOURCE Trip.com Group Limited

FAQ

What is the recent share subdivision announcement by Trip.com Group (TCOM)?

Trip.com Group (TCOM) announced a share subdivision where each ordinary share of US$0.01 will be subdivided into eight shares of US$0.00125, effective March 18, 2021.

How does the ADS ratio change affect Trip.com Group (TCOM) shareholders?

The ADS ratio will change from eight ADSs representing one ordinary share to one ADS representing one ordinary share, keeping the percentage interest in the Company unchanged.

When did Trip.com Group (TCOM) hold its extraordinary general meeting?

Trip.com Group (TCOM) held its extraordinary general meeting on March 18, 2021.