CL Workshop Group Announces ADS Ratio Adjustment
Forestry firm CL Workshop Group will change its ADS-to-share ratio effective November 6, 2026, creating an effect equivalent to a 1-for-80 reverse stock split.
Hong Kong-based forestry company CL Workshop Group Limited has announced a change to the ratio of its American Depositary Shares (ADSs) to its Class A ordinary shares. Effective November 6, 2026, the current ratio of one ADS representing eight shares will shift to one ADS representing 640 shares.
The adjustment effectively mirrors a 1-for-80 reverse stock split for holders of the company's ADSs. The company clarified that its underlying Class A ordinary shares are unaffected by this change, and no shares will be issued or cancelled as a result of the adjustment.
Trading of the ADSs will continue on the Nasdaq Capital Market under the ticker symbol "NWGL." Investors holding shares through the Direct Registration System or DTC are not required to take any action, as any resulting fractional ADSs will be liquidated and settled in cash, subject to fees and taxes.