AirNet Technology announces termination of deposit agreement

AirNet Technology (ANTE)announced that it will terminate the amended and restated deposit agreement dated March 29, 2019, among the company, JPMorgan Chase Bank N.A., and the holders of American depositary shares from time to time, effective May 30. On or about April 30, the depositary of the company’s American depositary receipts, will distribute to all holders and beneficial owners of the company’s ADRs a notification regarding the termination of ADR facility for the company’s ADSs pursuant to the deposit agreement. The effective date of the termination of the deposit agreement will be May 30. On the effective date, holders of ADSs will have their ADSs automatically cancelled and would be entitled to receive the corresponding underlying Deposited Securities at a rate of one ordinary share, par value $0.04 per share, for each ADS cancelled.