Sky Solar Holdings, Ltd. Announces ADS Ratio Change
SKY SOLAR HOLDINGS LTD AMERICA (SKYS)
US:NASDAQ Investor Relations:
ir.skysolarholdings.com
Company Research
Source: GlobeNewswire
HONG KONG, Oct. 23, 2019 (GLOBE NEWSWIRE) -- Sky Solar Holdings, Ltd. (NASDAQ: SKYS) (“Sky Solar” or the “Company”), a global developer, owner and operator of solar parks, today announced that it will change its American Depositary Share (“ADS”) to its ordinary share (“Ordinary Share”) ratio from one (1) ADS representing eight (8) Ordinary Shares (the “ADS Ratio Change”) to one (1) ADS representing twenty (20) Ordinary Shares. The Company anticipates that the ADS Ratio Change will be effective on November 8, 2019 (the “Effective Date”). Following the Effective Date of the ADS Ratio Change, each ADS will represent twenty (20) Ordinary Shares. Holders of existing ADSs will be required to surrender their existing ADSs in exchange for new ADSs and will receive 0.4 new ADS for every 1 existing ADS surrendered to Citibank, N.A., the depositary of the Company’s ADR facility (the “Depositary”). No fractional ADSs will be issued in connection with the ADS Ratio Change and cash-in-lieu of fr
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