BAODING, China, Dec. 17, 2015 /PRNewswire/ -- Yingli Green Energy
Holding Company Limited ("Yingli Green Energy" or the "Company")
(NYSE: YGE), one of the world's
leading solar panel manufacturers, today announced that it will
change the ratio of its American Depositary Shares ("ADSs") to
ordinary shares, par value US$0.01
per share ("Shares") from one (1) ADS to one (1) Share to one (1)
ADS to ten (10) Shares (the "Ratio Change"). The effective date of
the Ratio Change is expected to be December
28, 2015.
Each shareholder of record at the close of business on
December 28, 2015 will be required to
exchange every ten (10) ADSs then held for one (1) new ADS. The
effect on the ADS price will take place on December 28, 2015.
For Yingli Green Energy's ADS holders, the Ratio Change will
have the same effect as a one-for-ten reverse ADS split. There will
be no change to Yingli Green Energy's underlying Shares. ADS
holders will be required to surrender their existing ADSs in
exchange for new ADSs of the Company. No new Shares will be issued
in connection with the Ratio Change.
JPMorgan Chase Bank, N.A. will contact ADS holders and arrange
for the exchange of their current ADSs for new ADSs. As a result of
this Ratio Change, the ADS price is expected to automatically
increase proportionally, although the Company can give no assurance
that the post-change ADS price will be equal to or greater than the
pre-change ADS price multiplied by the ratio.
The Company believes that the Ratio Change is in the best
interests of its shareholders as it will assist the Company in
regaining compliance with the minimum average closing price
continued listing standard of the New York Stock Exchange. However,
the Company can give no assurance that this goal will be achieved
upon the effectiveness of the Ratio Change.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), known
as "Yingli Solar," is one of the
world's leading solar panel manufacturers. Yingli Green Energy's
manufacturing covers the photovoltaic value chain from ingot
casting and wafering through solar cell production and solar panel
assembly. Headquartered in Baoding, China, Yingli Green Energy has more than 30
regional subsidiaries and branch offices and has distributed more
than 14 GW solar panels to customers worldwide. For more
information, please visit www.yinglisolar.com and join the
conversation on Facebook, Twitter and
Weibo.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in 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," "target" and
similar statements. Such statements are based upon management's
current expectations and current market and operating conditions,
and relate to events that involve known or unknown risks,
uncertainties and other factors, all of which are difficult to
predict and many of which are beyond Yingli Green Energy's control,
which may cause Yingli Green Energy's actual results, performance
or achievements to differ materially from those in the
forward-looking statements. Further information regarding these and
other risks, uncertainties or factors is included in Yingli Green
Energy's filings with the U.S. Securities and Exchange Commission.
Yingli Green Energy does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events or otherwise, except as required under applicable law.
For further information, please contact:
Qing Miao
Vice President of Corporate Communications
Yingli Green Energy Holding Company Limited
Tel: +86 312 8929787
E-mail: ir@yingli.com
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SOURCE Yingli Green Energy Holding Company Limited