WUHAN,
China, July 15, 2023 /PRNewswire/ -- Dunxin
Financial Holdings Limited ("Dunxin" or the "Company") (NYSE
American: DXF), a licensed microfinance lender servicing
individuals and small and medium enterprises ("SMEs") in
Hubei Province, China, today announced that it plans to change
the ratio of its American depositary shares ("ADSs") from one (1)
ADS representing forty eight (48) ordinary shares to one (1) ADS
representing four hundred and eighty (480) ordinary shares.
There will be no change to the Company's ordinary shares. The
effect of the ratio change on the ADS trading price on the NYSE
American (the "NYSE American") is expected to take place at the
open of trading on July 25, 2023
(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, DXF's ADSs
will continue to be traded on the NYSE American under the symbol
"DXF".
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