Concord Medical Services Holdings Ltd 6-K, filed Jul 11, 2024
Concord Medical Services Holdings Ltd (CCM)
About this 6-K
Concord Medical Services Holdings Ltd filed this 6-K on July 11, 2024.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of July 2024
Commission File Number: 001-34563
CONCORD MEDICAL SERVICES HOLDINGS LIMITED
Room 2701-05, Tower A, Global Trade Center
36 North Third Ring Road East, Dongcheng District
Beijing 100013
People’s Republic of China
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| CONCORD MEDICAL SERVICES HOLDINGS LIMITED | ||
| By: | /s/ Jianyu Yang | |
| Name: | Jianyu Yang | |
| Title: | Chairman and Chief Executive Officer | |
Date: July 11, 2024
Exhibit Index
| Exhibit No. | Description | |
| 99.1 | Press Release |
Exhibit 99.1
CONCORD MEDICAL ANNOUNCES PLAN TO IMPLEMENT ADS RATIO CHANGE
BEIJING, July 11, 2024 /PRNewswire/ -- Concord Medical Services Holdings Limited (“Concord Medical” or the “Company”) (NYSE: CCM), a healthcare provider specialized in cancer treatment, research, education and prevention in China, today announced that it plans to change the ratio of its American depositary shares (“ADSs”) to Class A ordinary shares (the “ADS Ratio”) from the current ADS Ratio of one (1) ADS representing three (3) Class A ordinary shares to a new ADS Ratio of one (1) ADS representing thirty (30) Class A ordinary shares. The Company anticipates that the change in the ADS Ratio will be effective on July 30, 2024 (U.S. Eastern Time). The ADSs of Concord Medical will continue to be traded on the New York Stock Exchange under the symbol “CCM.”
For the ADS holders of Concord Medical, the change in the ADS Ratio will have the same effect as a one-for-ten reverse ADS split. Each ADS holder at the open of business on the date when the change in ADS Ratio is effective will be required to surrender and exchange every ten (10) existing ADSs then held for one (1) new ADS. JPMorgan Chase Bank, N.A., as the depositary bank for the ADS program of Concord Medical, will arrange for the exchange of the current ADSs for the new ones.
No fractional new ADSs will be issued in connection with the change in the ADS Ratio. Instead, fractional entitlements to new ADSs will be aggregated and sold by the depositary bank, and the net cash proceeds from the sale of the fractional ADS entitlements (after deduction of fees, taxes, and expenses) will be distributed to the applicable ADS holders by the depositary bank. The change in the ADS Ratio will have no impact on the underlying Class A ordinary shares of Concord Medical, and no Class A ordinary shares will be issued or cancelled in connection with the change in the ADS Ratio.
As a result of the change in the ADS Ratio, the ADS trading price of Concord Medical is expected to increase proportionally, although the Company can give no assurance that the ADS trading price after the change in the ADS Ratio will be equal to or greater than ten times the ADS trading price before the change.
About Concord Medical
Concord Medical Services Holdings Limited is a healthcare provider featuring a full cycle of premium oncology services including cancer diagnosis, treatment, education and prevention. The Company focuses on providing multidisciplinary cancer care in all aspects of oncology healthcare services in its cancer hospitals and equipping them with technologically advanced equipment such as the state-of-the-art proton therapy system. The Company is striving to improve the quality and accessibility of cancer care through its network of self-owned cancer hospitals and clinics as well as partnered hospitals across China. For more information, please see http://ir.ccm.cn.
About Concord Healthcare
Concord Healthcare is an oncology healthcare provider in China. Concord Healthcare serves both cancer patients through self-owned medical institutions and third-party medical institutions through medical equipment, software and related services. In its self-owned medical institutions, Concord Healthcare provides a full spectrum of oncology healthcare services to cancer patients across the entire care continuum, leveraging its multidisciplinary team specialists and diagnosis and treatment capabilities featuring precision radiation therapy. Through its medical equipment, software and related services, Concord Healthcare serves a widespread network of enterprise customers, primarily hospitals, with integrated oncology-related services, including primarily sales and installing of medical equipment and software, management and technical support, and operating lease.
Safe Harbor Statement
This announcement contains forward-looking statements. These forward-looking statements can be identified by words or phrases such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar expressions. Forward-looking statements are inherently subject to uncertainties and contingencies beyond the Company’s control and based upon premises with respect to future business decisions, which are subject to change. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For more information, please contact:
Concord Medical Services Holdings Limited
Investor Relations
+86 10 5903 6688
ir@ccm.cn
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