Meta Data Limited Announces Planned ADS Ratio Change
2024年7月20日 - 5:05AM
Meta Data Limited (“Meta Data” or the "Company") (NYSE: AIU)
today announced that it plans to change the ratio of its American
depositary shares ("ADSs"), which currently is one (1) ADS
representing two (2) Class A ordinary shares. The new ratio is
expected to be one (1) ADS representing ten (10) Class A ordinary
shares.
There will be no change to the Company's Class A ordinary
shares. The effect of the ratio change on the ADS trading price on
the New York Stock Exchange (the "NYSE") is expected to take place
at the open of trading on July 29, 2024 (U.S. Eastern Time). 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. the Company’s ADSs will continue to
be traded on the NYSE under the symbol "AIU".
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.
Safe Harbor Statement
This press release contains forward-looking statements made
under the "safe harbor" provisions of Section 21E of the Securities
Exchange Act of 1934, as amended, and the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expects,"
"anticipates," "future," "intends," "plans," "believes,"
"estimates," "confident" and similar statements. Meta Data may also
make written or oral forward-looking statements in its reports
filed with or furnished to the U.S. Securities and Exchange
Commission, in its annual report to shareholders, in press releases
and other written materials and in oral statements made by its
officers, directors or employees to third parties. Any statements
that are not historical facts, including statements about Meta
Data’s beliefs and expectations, are forward-looking statements
that involve factors, risks and uncertainties that could cause
actual results to differ materially from those in the
forward-looking statements. Further information regarding risks,
uncertainties or factors is included in the Company's filings with
the U.S. Securities and Exchange Commission. All information
provided in this press release is current as of the date of the
press release, and Meta Data does not undertake any obligation to
update such information, except as required under applicable
law.
About Meta Data
Founded in 2008 and headquartered in Hong Kong, Meta Data
(formerly known as OneSmart International Education Group Limited)
is a holding company, which engages in the provision of artificial
intelligent education and artificial intelligent universe IAAS
services. It operates through the following subsidiaries: Metaverse
Information Technology Limited in Hong Kong and Metaverse Digital
Technology Co., Limited in Wyoming, United States. For more
information, visit www.aiumeta.com.
For more information, please contact:Meta DataChee Jiong
NgE-mail: ir@aiumeta.com
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