HONG
KONG, Dec. 3, 2024 /PRNewswire/ -- Dunxin
Financial Holdings Limited ("Dunxin" or the "Company") (OTC Pink:
DXFFY), a company engaged in real estate operation management and
investment and a digital technology security business in
Hong Kong, today announced that it
plans to change the ratio of its American depositary shares
("ADSs") from one (1) ADS representing four hundred and eighty
(480) Class A ordinary shares to one (1) ADS representing sixty
thousand (60,000) Class A ordinary shares. The effect of the ratio
change on the ADS trading price on the OTC Pink (the "OTC") is
expected to take place at the open of trading on December 4, 2024 (U.S. Eastern Time).
For the Company's ADS holders, the ADS ratio
change will have the same effect as a one-for-one hundred and
twenty-five reverse split. 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 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, Dunxin's
ADSs will continue to be traded on the OTC under the symbol
"DXFFY".
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.
About Dunxin Financial Holdings
Limited
Dunxin is a licensed microfinance lender serving
individuals and SMEs in Hubei
Province, China. Dunxin
suspended offering loans to its customers since 2020.
Safe Harbor Statement
This press release contains forward-looking
statements as defined by the Private Securities Litigation Reform
Act of 1995. Forward-looking statements include statements
concerning plans, objectives, goals, strategies, future events or
performance, and underlying assumptions and other statements that
are other than statements of historical facts. When the Company
uses words such as "may, "will, "intend," "should," "believe,"
"expect," "anticipate," "project," "estimate" or similar
expressions that do not relate solely to historical matters, it is
making forward-looking statements. Forward-looking statements are
not guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company's expectations discussed in the
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
following: the Company's goals and strategies; the Company's future
business development; product and service demand and acceptance;
changes in technology; economic conditions; the growth of market in
China and the other international
markets the Company plans to serve; reputation and brand; the
impact of competition and pricing; government regulations;
fluctuations in general economic and business conditions in
China and the international
markets the Company plans to serve and assumptions underlying or
related to any of the foregoing and other risks contained in
reports filed by the Company with the SEC. For these reasons, among
others, investors are cautioned not to place undue reliance upon
any forward-looking statements in this press release. Additional
factors are discussed in the Company's filings with the SEC, which
are available for review at www.sec.gov. The Company undertakes no
obligation to publicly revise these forward–looking statements to
reflect events or circumstances that arise after the date
hereof.
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SOURCE Dunxin Financial Holding Limited