Atento Announces Reverse Share Split


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 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.