CL Workshop Group Limited filed an 8-K announcement on November 4, 2026, disclosing a change to its ADS-to-ordinary-share ratio effective November 6, 2026, with an equivalent effect of a one-for-eighty reverse split for ADS holders.

Key Highlights

  • New ADS ratio: One (1) ADS will represent six hundred and forty (640) Class A ordinary shares, up from one (1) ADS representing eight (8) Class A ordinary shares.
  • Equivalent reverse split: The ADS ratio change will have the same effect as a one-for-eighty (80) reverse split for ADS holders, according to the filing.
  • Effective date: The change takes effect at the open of business on November 6, 2026, subject to Nasdaq confirmation.
  • New CUSIP number: The new CUSIP number assigned to the ADSs is 63903R205.
  • Ordinary shares unaffected: The company disclosed that no ordinary shares will be issued or cancelled, and holders of ordinary shares will be unaffected by the new ADS ratio.
  • Fractional entitlements: No fractional ADSs will be issued; any fractional entitlements will be settled in cash, after deduction of applicable taxes, fees, and expenses.

CL Workshop Group Changes ADS Structure Ahead of November 6 Effective Date

CL Workshop Group Limited (NASDAQ:NWGL), described in the filing as "a global forestry company that focuses on the timber and wood products industry," announced that the ratio of its American Depositary Shares to Class A ordinary shares will change from 1:8 to 1:640. The company disclosed this change is effective November 6, 2026, subject to confirmation from Nasdaq, and that ADSs are expected to continue trading on the Nasdaq Capital Market under the existing ticker symbol "NWGL" on a split-adjusted basis from that date.

According to the filing, the ADS ratio change will have the same effect as a one-for-eighty (80) reverse split for ADS holders. The Class A ordinary shares, however, will not be affected. The company stated that no ordinary shares will be issued or cancelled in connection with the ADS ratio change, and that holders of ordinary shares will be unaffected. The company assigned a new CUSIP number, 63903R205, to the adjusted ADSs.

ADS holders holding through DTC or the Direct Registration System are not required to take any action, the filing indicated. Where fractional ADS entitlements arise from the ratio adjustment, the filing stated these will be settled in cash after the deduction of applicable taxes, fees, and expenses. No fractional ADSs will be issued. The filing contains forward-looking statements that the company notes are subject to risks and uncertainties, including those discussed in its regulatory filings, and actual results may differ materially from anticipated results.

What Was Disclosed

CL Workshop Group Limited announced a change to its ADS-to-Class A ordinary share ratio from 1:8 to 1:640, effective November 6, 2026, with a new CUSIP of 63903R205. The change is equivalent to a 1-for-80 reverse split for ADS holders, while ordinary shareholders are unaffected.