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China Unicom seeks to deregister its American Depositary Shares and terminate reporting obligations under the United States Securities Exchange Act

·2 min read

HONG KONG, May 28, 2021 /PRNewswire/ -- China Unicom (Hong Kong) Limited and its subsidiaries ("China Unicom" or "the Company" and "the Group") (HKEx: 0762) referred to its announcement dated 7 May 2021 in relation to the review decision by The New York Stock Exchange LLC (the "NYSE") that the NYSE determined to delist the American Depositary Shares of the Company (the "ADSs"). The NYSE filed Form 25 with the United States Securities and Exchange Commission (the "SEC") on 7 May 2021 and the delisting of the Company's ADSs became effective as of the beginning of the business on 18 May 2021.

The Company announced that in light of the delisting, the Company intends to file a Form 15F on the date of this press release with the SEC to deregister the ADSs of the Company and terminate its reporting obligations under the United States Securities Exchange Act (the "Exchange Act").

The Company's reporting obligation under the Exchange Act will be suspended immediately upon such filing. The deregistration and termination of reporting obligation is expected to become effective 90 days after the filing, unless withdrawn by the Company or objected by the SEC earlier. In the future the Company will continue to comply with its financial reporting and other obligations as a listed-issuer under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

As at the end of April 2021, the amount of the Company's ADSs in issue was approximately 5 million, which represented approximately 0.2% of the Company's total issued shares. The Bank of New York Mellon is the depositary for the Company's ADSs. Holders of ADSs may return the ADSs to The Bank of New York Mellon in exchange for ordinary shares of the Company with each ADS returned to be exchanged into 10 ordinary shares of the Company in accordance with the terms and conditions of the deposit agreement. The Company's ordinary shares are traded on The Stock Exchange of Hong Kong Limited. As the Company's ADSs have been delisted from the NYSE, holders of the ADSs may contact the Bank of New York Mellon or, to the extent holding ADSs through a bank, broker or other nominee, may contact such bank, broker or nominee regarding the exchange of the ADSs into ordinary shares of the Company.

Certain statements contained in this press release may be viewed as "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition, results of operations or prospects of the Company to be materially different from any future performance, financial condition, results of operations or prospects implied by such forward-looking statements. In addition, we do not intend to update these forward-looking statements. Further information regarding these risks, uncertainties and other factors is included in the Company's most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the "SEC") and in the Company's other filings with the SEC.


View original content:http://www.prnewswire.com/news-releases/china-unicom-seeks-to-deregister-its-american-depositary-shares-and-terminate-reporting-obligations-under-the-united-states-securities-exchange-act-301301588.html

SOURCE China Unicom (Hong Kong) Limited