Scage Future Announces Change in ADS Ratio to One-to-Fifteen
Scage Future, a provider of zero-emission solutions for heavy-duty commercial vehicles and e-fuel systems listed on Nasdaq as SCAG, announced its plan to change the ratio of American Depositary Shares (ADSs) from one ADS per ordinary share to one ADS representing fifteen ordinary shares. The new ratio is expected to take effect around October 30, 2026. This adjustment will function similarly to a reverse split for ADS holders, with existing shareholders receiving one new ADS for every fifteen held. The change does not affect the underlying ordinary shares and no new or canceled shares are involved in this process. Citibank, N.A., as depositary bank, will handle the automatic exchange of old ADSs into new ones without requiring action from holders. Fractional entitlements to new ADSs will be sold by the Depositary Bank with proceeds distributed back to shareholders. The company notes that while the change may lead to a proportional increase in the trading price per ADS due to fewer shares outstanding, there is no guarantee of this outcome.
Topics: ADS split corporate restructuring Nasdaq