8 Ways To Find The Best Web Design Agencies For Your…TOKYO, May 13, 2024 — Earlyworks Co., Ltd. , a Japanese company operating its proprietary private blockchain technology, Grid Ledger System , announced plans to change the ratio of its American Depository Shares to its ordinary shares from one ADS, representing one ordinary share, to one ADS representing five ordinary shares . The change in the ADS Ratio is expected to become effective on or about May 16, 2024 .
On the Effective Date, registered holders of the Company’s ADSs held in certificated form will be required on a mandatory basis to surrender their certificated ADSs to Bank of New York Mellon, the depositary bank , for cancellation and will receive one new ADS in exchange for every five existing ADSs surrendered. Holders of uncertificated ADSs in the Direct Registration System and The Depository Trust Company will have their ADSs automatically exchanged and need not take any action.