On January 31, SMIC announced that as of January 29, 2021 (EST), the outstanding ADRs of its Level 1 ADR plan accounted for less than 0.3% of the company's total issued share capital, and the participation level of the plan was very low. The company decided to terminate the plan. According to the terms of the deposit agreement related to the plan, the plan will be terminated on March 4, 2021 (EST).
SMIC said that the company has issued a termination notice to the depositary, JPMorgan Chase Bank, NA ("Depositary"), in accordance with the terms of the depositary agreement. The depositary will directly contact the holders of American depositary shares regarding the procedures and impact of the termination of the depositary agreement and the plan.
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