January 18, 2017 - WH Group Limited ("WH Group" or the "Company"; HKEX: 288), the world's largest pork company, is pleased to announce today the establishment of a sponsored Level I American Depositary Receipt ("ADR") Programme (the "Programme") with The Bank of New York Mellon (the "Depositary"), effective from 17 January, 2017 (U.S. Eastern Standard Time). The ADRs will be traded through the over-the-counter market in the U.S. under the symbol WHGLY.
WH Group Chairman and Chief Executive Officer Mr. Wan Long said: "With our leading market position in both China and US markets and a fully integrated business model, WH Group is attracting the shareholders who are seeking high-quality investment opportunities globally. The establishment of the ADR Programme will provide the Company with exposure to the capital market in the U.S. at a minimal cost and maintenance effort while broadening the investor base of the Company, enabling more investors to participate in the Company's development. As such, we believe that the Programme is in the interest of the Company and its shareholders as a whole." Depositary Receipt InformationRegion | Hong Kong |
DR Bank | The Bank of New York Mellon |
Effective Date | 17 January 2017 |
Ticker | WHGLY |
CUSIP | 92890T205 |
ISIN | US92890T2050 |
Ratio | 20 ordinary shares : 1 ADR |
Trading Market | Over-the-counter |
The number of American depositary shares ("ADSs") registered by the Company under the Programme is 50,000,000. The establishment of the Programme is not a new offering of Shares and is based on the Shares currently in issue of the Company. And the Company did not and
will not issue any new Shares pursuant to the Programme. Under the Programme, the owners of the ADSs have the same rights as the holders of the Shares to dividends, distributions and voting, subject to the terms and conditions under the deposit agreement entered into by and among the Depositary, the Company and the owners and holders of the ADSs dated 17 January 2017.
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About WH Group Limited (HKEx stock code: 288)
WH Group Limited is the largest pork company in the world with the top market share in China, the U.S. and some markets in Europe. It owns many well-recognized and trusted brands and stands above the rest with global market leadership in all key segments of the pork value chain, including packaged meats, fresh pork and hog production. The Group conducts its operations through Henan Shuanghui Investment & Development Co., Ltd., the largest animal protein company in Asia, and Smithfield Foods, the largest pork company in the U.S. For more information, visit www.wh-group.com.
About Smithfield Foods
Smithfield Foods, a wholly owned subsidiary of WH Group Limited, is a global food company and the world's largest pork processor and hog producer. In the United States, the company is also the leader in numerous packaged meats categories with popular brands including Smithfield®, Eckrich®, Farmland®, Armour®, Cook's®, John Morrell®, Gwaltney®, Nathan's Famous®, Kretschmar®, Margherita®, Curly's®, Carando® and Healthy Ones®. Smithfield Foods is committed to providing good food in a responsible way and maintains robust animal care, community involvement, employee safety, environmental and food safety and quality programs. For more information, visit www.smithfieldfoods.com and www.smithfieldfoods.com/responsible-operations.
Hill+Knowlton Strategies Benny Liu / Renee Chen / Eva Yip +852 2894 6315 / 2894 6232 / 2894 6313 wh-group@hkstrategies.com | WH Group Luis Chein +852 2922 0775 luis.chein@wh-group.com |
WH Group Ltd. published this content on 18 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 18 January 2017 04:46:07 UTC.
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