CL Workshop Group Limited Announces Plan to Implement ADS Ratio Change
The ratio change consolidates ADS holdings without issuing or cancelling any underlying ordinary shares.
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Rhea-AI Summary
CL Workshop Group (NASDAQ: NWGL) plans to change its American Depositary Share ratio, effective November 6, 2026. Each American Depositary Share (ADS) will represent 640 Class A ordinary shares, compared with eight currently. For ADS holders, this has the same effect as a one-for-80 reverse split.
The underlying ordinary shares will remain unchanged, with none issued or cancelled. Split-adjusted trading under NWGL is expected to begin at the open of business on November 6, subject to Nasdaq confirmation. No fractional ADSs will be issued; fractional entitlements will be paid in cash after applicable taxes, fees and expenses.
Positive
- None.
Negative
- Minor point. Forward-looking: it has not happened yet and may not happen.Split-adjusted ADS trading expected November 6, 2026 remains subject to Nasdaq confirmation.
Details
Market move: NWGL +28.01% vs previous close. ADS ratio change
On Nov 4, the day this news came out, the latest delayed price for NWGL is 28.01% above the previous close. Our momentum scanner has recorded 61 alerts for this stock so far that day. The latest delayed price is $0.07. Relative volume is exceptionally heavy at 349.2x what this stock usually trades by this time of day.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.
Key Figures
- ADS ratio
- 1 ADS representing 8 Class A ordinary shares → 1 ADS representing 640 Class A ordinary shares
- Ratio change announced by the company
- Reverse split equivalent
- 1-for-80
- Effect for the company's ADS holders
- Effective date
- November 6, 2026
- ADS ratio change
Key Terms
reverse split financial
cusip number financial
direct registration system financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
The Class A ordinary shares of the Company will not be affected by the ADS Ratio Change. No ordinary shares will be issued or cancelled in connection with the ADS Ratio Change, and holders of the Company's ordinary shares will be unaffected by the new ADS Ratio.
The ADSs are expected to continue trading on a split-adjusted basis on the Nasdaq Capital Market under the existing ticker symbol "NWGL," effective at the open of business on November 6, 2026 (the "Effective Date"), subject to Nasdaq confirmation. The new CUSIP number will be 63903R205.
ADS holders holding through DTC or the Direct Registration System will not be required to take any action. No fractional ADSs will be issued, and any fractional entitlements will be settled in cash, after deduction of applicable taxes, fees and expenses.
About CL Workshop Group Limited
CL Workshop Group Limited is a global forestry company offering a broad line of wooden products, including logs, decking, flooring and sawn timber, primarily through its worldwide sales network.
Forward-Looking Statements
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. All forward-looking statements, expressed or implied, in this release are based only on information currently available to us and speak only as of the date on which they are made. Investors can find many, but not all, of these statements by the use of words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions in this release. Except as otherwise required by applicable law, we disclaim any duty to publicly update any forward-looking statement to reflect events or circumstances after the date of this release.
These statements are subject to uncertainties and risks, including, but not limited to, uncertainties related to market conditions, and other factors discussed in our filings with the SEC.
Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from anticipated results and encourages investors to review other factors that may affect its future results in the Company's filings with the SEC. 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.
For investor and media inquiries, please contact:
CL Workshop Group Limited
Name: Wang Hong
Title: CFO
Email: nwglwh@163.com
View original content:https://www.prnewswire.com/news-releases/cl-workshop-group-limited-announces-plan-to-implement-ads-ratio-change-302929135.html
SOURCE CL Workshop Group Limited
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What is CL Workshop Group's NWGL ADS ratio change?
Effective November 6, 2026, each ADS will represent 640 Class A ordinary shares instead of eight. For ADS holders, the change has the same effect as a one-for-80 reverse split. The underlying ordinary shares are unaffected.
Do NWGL ADS holders need to take action for the ratio change?
ADS holders holding through DTC or the Direct Registration System do not need to take any action. No fractional ADSs will be issued; fractional entitlements will be settled in cash after deduction of applicable taxes, fees and expenses.