BEIJING, Jan. 22, 2021 /PRNewswire/ -- Baidu, Inc.
(Nasdaq: BIDU) ("Baidu" or the "Company"), a leading Internet
platform and AI company, today announced that it will hold an
extraordinary general meeting of shareholders (the "EGM") at 11:00
a.m. on March 1, 2021
(Beijing time) at the address of
No. 10 Shangdi 10th Street, Haidian District, Beijing, the People's Republic of China.
A proposal of changing the Company's authorized share capital by
one-to-eighty subdivision of shares ("Share Subdivision") will be
submitted to Baidu's shareholders to be considered and voted upon
at the EGM. Subject to the approval of the Share Subdivision at the
EGM, Baidu's board of directors (the "Board") has approved a change
in the American depositary share ("ADS") ratio proportionate to the
Share Subdivision from ten (10) ADSs representing one (1) Class A
ordinary share to one (1) ADS representing eight (8) Class A
ordinary shares (the "ADS Ratio Change"), to take effect on
March 1, 2021. For Baidu's ADS
holders, 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 regards to the ADS Ratio Change.
The Board has fixed the close of business on January 28, 2021 (Eastern Standard Time) as
the record date (the "Record Date") for determining the
shareholders entitled to receive notice of, and to attend, the EGM
or any adjourned or postponed meeting thereof. Holders of record of
the Company's Class A or Class B ordinary shares, par value
US$0.00005 per share, at the
close of business on the Record Date are entitled to notice of, and
to vote at, the EGM or any adjournment or postponement thereof.
Holders of the Company's ADSs who wish to exercise their voting
rights for the underlying Class A ordinary shares must act through
the depositary of the Company's ADS program, The Bank of New York
Mellon (the "Depositary"). The notice of the EGM, which sets forth
the resolutions to be submitted to shareholder approval at the
meeting, is available on the Company's website at
http://ir.baidu.com.
About Baidu
Baidu, Inc. is a leading search engine,
knowledge-and-information centered Internet platform and AI
company. The Company's mission is to make the complicated world
simpler through technology. Baidu's ADSs trade on the NASDAQ Global
Select Market under the symbol "BIDU". Currently, ten ADSs
represent one Class A ordinary share.
Contacts
Investors Relations, Baidu, Inc.
Tel: +86-10-5992-8888
Email: ir@baidu.com
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SOURCE Baidu, Inc.