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OneSmart International Education Group announces ADS report change

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SHANGHAI, 14 January 2022 (GLOBE NEWSWIRE) – OneSmart International Education Group Limited (“OneSmart” or “Company”) (NYSE: A) announced today that it will change its US Depository Shares (“ADS”) ratio representing its Class A common stock from one (1) ADS representing forty (40) Class A ordinary shares to one ( 1) ADS representing one thousand (1000) ordinary shares of class A.

For OneSmart ADS holders, the change in ADS ratio will have the same effect as a reverse ADS split of twenty-five. There will be no change in the Company’s ordinary Class A stock. The effect of the ratio change in the ADS trading price on the New York Stock Exchange (“NYSE”) is expected to occur at the opening of trading on January 24, 2022 (US Eastern Time). Holders of ADS records on the effective date will have to submit their ADS to the depository bank for cancellation and exchange in connection with the change of the ADS report, with further details to be given in the notice by depository bank. Exchange of any twenty-five (25) ADS held at that time for one (1) new ADS will occur automatically with ADS held at that time will be canceled and new ADS issued by the deposit bank, in each case from the date of entry into force. to change the ADS report. OneSmart ADS will continue to be traded on the NYSE under the “ONE” symbol.

No new partial ADS will be issued in connection with the change to the ADS report. Instead, the partial rights to the new ADS will be collected and sold by the depository bank and the net monetary income from the sale of the partial rights to the ADS (after deducting fees, taxes and expenses) will be are distributed to applicable ADS holders by the depositor. bank.

As a result of the change in the ADS ratio, the ADS price is expected to increase proportionately, although the Company can provide no guarantee that the ADS price after the change in the ADS ratio will be equal to or greater than twenty-five times the ADS price before change.

Safe Harbor Statement

This press release contains forward-looking statements made under the provisions of the “safe harbor” of Section 21E of the Securities Exchange Act of 1934, as amended, and the US Securities Private Reform Act 1995. These forward-looking statements can be identified by terminology such as “will”, “expects”, “predicts”, “future”, “aims”, “plans”, “believes”, “evaluates”, “i safe “and similar statements. OneSmart may also make written or oral statements about the future in its reports submitted or submitted to the US Securities and Exchange Commission, in its annual shareholder report, in press releases and in other written and in oral statements made by officials, its directors. or employees to third parties. Any statements that are not historical facts, including statements about OneSmart beliefs and expectations, are forward-looking statements that include factors, risks, and uncertainties that may cause actual results to differ materially from those in future statements. Further information regarding risks, uncertainties or factors is included in the Company files with the US Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and OneSmart assumes no obligation to update this information, except as required by applicable law.

About OneSmart

Founded in 2008 and headquartered in Shanghai, OneSmart International Education Group Limited currently offers subject-based learning for students in China. Given the policy of further reducing the burden of homework and off-campus teaching for compulsory education students, (Dual Reduction Policy), which essentially requires the suspension of all off-campus teaching businesses based on targeting preschool children and K12 students, The company plans to provide online education and tutoring services exclusively for students outside China, overseas education preparation and counseling services for students residing within China, Smart ID Card on campus and develop and market an intelligent training system that includes virtual reality, artificial intelligence, blockchain and other technologies to facilitate the teaching and training process.

For more information, please contact:
OneSmart
Mr. Steve Zhang
Email: [email protected]

Sources

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2/ https://www.yahoo.com/now/onesmart-international-education-group-announces-220000191.html

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