SHANGHAI, May 8, 2018 /PRNewswire/ -- The9 Limited (Nasdaq:
NCTY) ("The9" or the "Company"), an established Internet company,
today announced that it will change the ratio of its American
Depositary Share ("ADS") to ordinary shares from one (1) ADS
representing one (1) ordinary share to one (1) ADS representing
three (3) ordinary shares, effective May 9,
2018.
For The9's ADS holders, the change in the ADS ratio will have
the same effect as a one-for-three reverse ADS split. Effective
May 9, 2018, ADS holders of The9 will
be required on a mandatory basis to surrender their old ADS to the
depositary bank for cancellation at the rate of three (3) old ADSs
for one (1) new ADS. Holders in the Direct Registration System and
in the Depository Trust Company will have their ADSs automatically
exchanged and need not take any actions. Only whole ADSs will be
distributed. The depositary bank will attempt to sell any
fractional ADSs and distribute the cash proceeds. The ADS ratio
change will have no impact on The9's underlying ordinary
shares.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of 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," "considers" and similar statements.
Statements that are not historical facts, including statements
about The9's beliefs and expectations, are forward-looking
statements. Forward-looking statements involve inherent risks and
uncertainties. A number of important factors could cause actual
results to differ materially from those contained in any
forward-looking statement. Potential risks and uncertainties
include, but are not limited to, The9's ability to license, develop
or acquire online games that are appealing to users, The9's ability
to retain existing players and attract new players, The9's ability
to anticipate and adapt to changing consumer preferences and
respond to competitive market conditions, political and economic
policies of the Chinese government, the laws and regulations
governing the online game industry, information disseminated over
the Internet and Internet content providers in China, intensified government regulation of
Internet cafes, and other risks and uncertainties outlined in
The9's filings with the U.S. Securities and Exchange Commission,
including its annual reports on Form 20-F. The9 does not undertake
any obligation to update any forward-looking statement, except as
required under applicable law.
About The9 Limited
The9 Limited is an Internet company based in China. The9 has stepped into
blockchain-related business. The9 also develops and/or operates,
directly or through its affiliates, its proprietary mobile games
and web games, including the CrossFire New Mobile Game, Audition
mobile, Knight Forever and Q Jiang San Guo.
Website: http://www.corp.the9.com/
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SOURCE The9 Limited