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CL Workshop sets ADS change equal to 1-for-80 reverse split

The company says it aims to raise the per-ADS trading price and regain compliance with Nasdaq’s $1.00 minimum bid rule, but provides no assurance.

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Form Type
6-K

Rhea-AI Filing Summary

CL Workshop Group Ltd (NWGL) will change its ADS ratio effective November 6, 2026, from one ADS representing 8 Class A ordinary shares to one ADS representing 640 Class A ordinary shares; for ADS holders, the change has the same effect as a one-for-80 reverse split.

The Class A ordinary shares will not be affected, and no ordinary shares will be issued or cancelled. ADSs are expected to trade on a split-adjusted basis at the open on November 6, 2026, subject to Nasdaq confirmation. No fractional ADSs will be issued; the depositary bank will attempt to sell aggregated fractional entitlements and distribute net cash proceeds to holders after applicable taxes, fees and expenses. The company says the change aims to raise the per-ADS trading price and regain compliance with Nasdaq’s $1.00 minimum bid requirement, but gives no assurance that it will regain or maintain compliance.

Current ADS ratio 1 ADS representing 8 Class A ordinary shares Before the ADS Ratio Change
New ADS ratio 1 ADS representing 640 Class A ordinary shares Effective November 6, 2026
Reverse split equivalent 1-for-80 Effect for ADS holders
Minimum bid price $1.00 per ADS Nasdaq continued-listing requirement
American Depositary Shares technical
"ratio of its American Depositary Shares to its Class A ordinary shares"
American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.
fractional entitlements technical
"fractional entitlements to new ADSs"
Fractional entitlements occur when a corporate action (like a dividend, stock split, rights offering or consolidation) would give a shareholder a non-whole share or security — for example, 0.5 of a share. Companies typically settle these fractions by paying a small cash amount or rounding up/down, and this matters to investors because it changes cash balances, can slightly alter ownership percentages, and may have small tax and record-keeping implications, much like receiving change after splitting a bill.
split-adjusted basis technical
"trading on a split-adjusted basis"
An adjustment to historical share prices and share counts that reflects past stock splits or reverse splits so that old data lines up with the current number of shares. Think of it like resizing an old photograph so it matches a new frame: it keeps price charts, returns and per‑share metrics comparable over time, which matters to investors who need accurate performance, valuation and trend analysis.
Nasdaq Listing Rule 5550(a)(2) regulatory
"Nasdaq Listing Rule 5550(a)(2)"
Split Ratio 1-for-80 reverse split
Effective Date November 6, 2026

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is NWGL’s new ADS ratio?

Effective November 6, 2026, one ADS will represent 640 Class A ordinary shares, compared with 8 under the prior ratio; for ADS holders, this has the same effect as a one-for-80 reverse split. The Class A ordinary shares themselves will not be affected.

Do NWGL ADS holders need to take action for the ratio change?

No. ADS holders, including those holding through DTC or the Direct Registration System, are not required to take action. No fractional ADSs will be issued; fractional entitlements will be settled in cash after applicable taxes, fees and expenses.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of November 2026

 

Commission File Number: 001-41796

 

CL Workshop Group Limited

 

Avenida da Amizade no. 1287

Chong Fok Centro Comercial, 13 E

Macau S.A.R.

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F ☒ Form 40-F ☐

 

 

 

 
 

 

ADS Ratio Change

 

On November 4, 2026, CL Workshop Group Limited (the “Company”) announced that, effective November 6, 2026, the ratio of its American Depositary Shares (“ADSs”) to its Class A ordinary shares will change from the current ratio of one (1) ADS representing eight (8) Class A ordinary shares to a new ratio of one (1) ADS representing six hundred and forty (640) Class A ordinary shares (the “ADS Ratio Change”).

 

For holders of the Company’s ADSs, the ADS Ratio Change will have the same effect as a one-for-eighty (80) reverse split.

 

The Company’s ADSs are expected to begin trading on the Nasdaq Capital Market on an adjusted basis at the opening of trading on November 6, 2026, and will continue to trade under the symbol “NWGL.” The new CUSIP number for the ADSs will be 63903R205.

 

No action is required by the holders of the ADSs to affect the ADS Ratio Change, and no fractional new ADSs will be issued in connection with the change in ADS Ratio Change. Instead, fractional entitlements to new ADSs will be aggregated and the depositary bank will attempt to sell them with the net cash proceeds from the sale of the fractional ADS entitlements to be distributed to the applicable ADS holders by the depositary bank.

 

The Company is implementing the ADS Ratio Change with the objective of increasing the per-ADS trading price and regaining compliance with Nasdaq Listing Rule 5550(a)(2), which requires a minimum bid price of $1.00 per ADS for continued listing on the Nasdaq Capital Market. There can be no assurance that the ADS Ratio Change will enable the Company to regain or maintain compliance with Nasdaq’s continued-listing requirements.

 

The information contained in this Report on Form 6-K is hereby incorporated by reference into the Company’s registration statement on Form F-3 (File No. 333-297543) and S-8 (Registration No. 333-299186).

 

EXHIBITS

 

Exhibit No.   Description
99.1   Press Release

 

 
 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

CL Workshop Group Limited
   
Date: November 4, 2026 By: /s/ Liying Wang
Name:  Liying Wang
Title: Director and Chief Executive Officer

 

 

 

 

Exhibit 99.1

 

CL Workshop Group Limited Announces Plan to Implement ADS Ratio Change

 

Hong Kong, November 4, 2026 (PRNewswire ) – CL Workshop Group Limited (NASDAQ: NWGL) (the “Company”), a global forestry company that focuses on the timber and wood products industry, today announced that it will change the ratio (the “ADS Ratio”) of its American Depositary Shares (“ADSs”) to Class A ordinary shares, par value US$0.001 per share, from one (1) ADS representing eight (8) Class A ordinary shares to one (1) ADS representing six hundred and forty (640) Class A ordinary shares, effective November 6, 2026 (the “ADS Ratio Change”). For the Company’s ADS holders, the ADS Ratio Change will have the same effect as a one-for-eighty (80) reverse split.

 

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

 

 

 

Filing Exhibits & Attachments

1 document

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