Form 6-K Pintec Technology Holdin Until: May 13
Changing the ADS ratio
Pintec Technology Holdings Limited (the “Company”) announced on May 13, 2022 that the ratio of its US depository share (“ADS”) representing its Class A common shares (“ADS Report”) is being changed from one (1) ADS representing seven (7) Class A ordinary shares to one (1) ADS representing thirty-five (35) Class A ordinary shares.
There will be no change in the Class A common shares of the Company. Further, no physical action by ADS holders will be required to effect the ratio change, as the change will be made on the books of the depositary. The effect of the ratio change on the trading price of ADS on the NASDAQ Global Market is expected to occur at the opening of business on May 16, 2022 (US Eastern Time). All fractional ADSs will be sold and the net proceeds from the sale of fractional ADSs will be distributed to the holders entitled thereto.
Following the change in the ADS ratio, the price of the ADS is expected to increase proportionally, although the Company cannot guarantee that the price of the ADS after the change in the ADS ratio will be equal to or greater than five times the price of the ads. price before the change.
Entering important contracts
On May 13, 2022, the Board of Directors of the Company unanimously approved the entering into of certain material contracts, pursuant to which the Company will divest its 100.0% interest in Pintec Australia Pty Ltd (“Pintec Australia“), a company incorporated under the laws of Australia (the “Sharing transfer”). The share transfer will be equivalent to the deconsolidation of Pintec Australia, which holds a 50.0% stake in Wagepay Pty Ltd, a 50.0% stake in Janko Loans Pty Ltd, 15.56% of Leasgo Pty Ltd and 100 .0% in Suppy Pty Ltd. of this Share Transfer, the financial results of Pintec Australia will no longer be included in the consolidated financial statements of the Company, thus eliminating its negative financial impacts on the Company. The Share Transfer would allow the Company to recover certain expenses incurred in connection with Pintec Australia.
The Company plans to continue to focus on better empowering small and medium-sized businesses (the “SME”) through the provision of comprehensive technological credit services and solutions to SMEs.
INDEX OF EXHIBITIONS
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