NEW YORK, July 28, 2020 /PRNewswire/ -- Atento S.A.
(NYSE: ATTO), the largest provider of customer relationship
management and business process outsourcing solutions (CRM/BPO) in
Latin America and among the top
five providers worldwide, announced today that, at the Company's
Extraordinary General Meeting of Shareholders, the Company's
shareholders have approved a conversion of the Company's entire
share capital of 75,406,357 ordinary shares into 15,000,000
ordinary shares, without nominal value, using a ratio of conversion
of 5.027090466672970. The reverse share split is expected to be
effective after trading hours on July 29,
2020. The Company's ordinary shares will begin trading on a
split-adjusted basis on the New York Stock Exchange (the "NYSE") at
the open of trading on July 30,
2020.
No fractional shares will be issued in connection with the
reverse share split and any fractional shares that result from the
share split will be rounded up to the nearest whole share. Holders
of the Company's ordinary shares held in "street name" do not need
to take any action in connection with the reverse share split and
can contact their bank, broker or other nominee for information on
their share ownership or with any questions. Shareholders who hold
their ordinary shares in book-entry form should contact the Company
at +55 11 3293 5926 or shay.chor@atento.com for information on
their share ownership or with any questions.
The Company proposed to effect the reverse share split in
response to a notification received from the NYSE that the
Company's ordinary shares did not meet the minimum price threshold
required under Section 802.01(C) of the NYSE Listed Company Manual
since the ordinary shares traded below an average closing price of
$1.00 per share over a consecutive 30-trading day period. Although
the Company´s ordinary shares have since resumed trading above the
minimum threshold, the reverse share split aims at providing a
structural solution to allow the Company to remain compliant with
NYSE's listing requirements.
The trading symbol for the Company's ordinary shares will remain
"ATTO". The new CUSIP number for the Company's ordinary shares
following the reverse stock split will be L0427L 204.
About Atento
Atento is the largest provider of customer relationship
management and business process outsourcing (CRM BPO) services in
Latin America, and among the top
five providers globally, based on revenues. Atento is also a
leading provider of nearshoring CRM/BPO services to companies that
carry out their activities in the United
States. Since 1999, Atento has developed its business model
in 13 countries where it employs 150,000 people. Atento has over
400 clients to whom it offers a wide range of CRM/BPO services
through multiple channels. Atento's clients are mostly leading
multinational corporations in sectors such as telecommunications,
banking and financial services, health, retail and public
administrations, among others. Atento´s shares trade under the
symbol ATTO on the New York Stock Exchange (NYSE). In 2019,
Atento was named one of the World´s 25 Best Multinational
Workplaces and one of the Best Multinationals to Work for in
Latin America by Great Place to
Work®. For more information visit www.atento.com
Investor Relations
Shay
Chor
+55 11 3293 5926
shay.chor@atento.com
Fernando Schneider
+55 11 3779 8119
fernando.schneider@atento.com
Media Relations
Pablo Sanchez
+34 670 031347
pablo.sanchez@atento.com
Forward-Looking Statements
This press release includes statements concerning Atento and its
future expectations, plans and prospects that constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. For this purpose, any
statements contained herein that are not statements of historical
fact may be deemed to be forward-looking statements. In some cases,
you can identify forward-looking statements by terms such as "may,"
"should," "expects," "plans," "anticipates," "could," "intends,"
"target," "projects," "contemplates," "believes," "estimates,"
"predicts," "potential," or "continue," or the negative of these
terms or other similar expressions. The company has based these
forward-looking statements largely on its current expectations and
projections about future events and financial trends that it
believes may affect its business, financial condition and results
of operations. These forward-looking statements speak only as of
the date of this press release and are subject to a number of
risks, uncertainties and assumptions including, without limitation,
the company's ability to continue to satisfy the NYSE's qualitative
and quantitative continued listing standards of the NYSE in the
future, including due to the company's financial condition or
results of operations, market conditions or the market perception
of the company's business, financial condition or results of
operations; a determination by the Company's board of directors not
to promptly implement or to abandon the proposed reverse share
split in its discretion. The company assumes no obligation to
update any forward-looking statements contained in this press
release as a result of new information, future events or
otherwise.
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SOURCE Atento S.A.