How do I buy or sell Sequans stock?

Sequans is listed on the New York Stock Exchange in the form of American Depositary Shares (“ADSs”) under the ticker symbol “SQNS” and beginning November 29, 2019  its corresponding CUSIP number is 817323207 or ISIN number US8173232070. You can buy and sell Sequans ADSs through your own full-service, discount, and on-line brokerage firm exactly the same way as you buy listed U.S. shares.  ADSs may not be purchased directly from Sequans.

What are ADSs?

American Depositary Shares, or ADSs, are the equity instrument used by non-U.S. companies to trade their shares on the U.S. markets.  ADSs can be held in book-entry form or as a physical certificate.

What are ADRs?

American Depositary Receipts, or ADRs, are negotiable U.S. certificates representing ownership of the ADSs in a non-U.S. corporation.

What is the difference between and ADR and an ADS?

An ADR is a negotiable certificate issued by a depositary bank representing a specific number of shares of a non-U.S. company traded on a U.S. stock exchange.  An ADS is the share issued under the ADR agreement which is actually traded.  In many cases the terms ADR and ADS are used interchangeably. Effective November 29, 2019, each Sequans ADS will represent four ordinary shares of Sequans.

What is the impact of the change in the ADS/share ratio announced on November 15, 2019?

On November 15, 2019 Sequans announced that its Board of Directors had approved a change in the number of its ordinary shares represented by American Depositary Shares, issued by the Bank of New York Mellon as depositary, from 1 ordinary share per ADS to 4 ordinary shares per ADS. The change in exchange ratio for the ADSs will have the same effect as a 1-for-4 reverse stock split of the ADSs. The ADSs will continue to trade on the New York Stock Exchange.  Sequans’ ordinary shares are not affected by the change.

The new ADS to ordinary share ratio of 1 for 4 became effective prior to the commencement of trading on the New York Stock Exchange on Friday, November 29, 2019.

No fractional ADSs will be issued. Holders who would otherwise receive fractional ADSs will receive a cash payment in lieu of such fractional ADSs. The cash in lieu rate will be set when the depositary sells the ADSs that would otherwise have been issued as fractional ADSs in one or more market trades.  ADS holders with ADSs held in book-entry form or through a bank, broker or other nominee are not required to take any action and will see the impact of the change to the ADS ratio reflected in their accounts after November 29, 2019. Beneficial holders may contact their bank, broker or nominee for more information. ADS holders with ADSs held in certificate form may exchange their certificates for book-entry ADSs resulting from the changed ADS ratio. Shortly after November 29, 2019, such ADS holders will receive a Letter of Transmittal and instructions for exchanging their certificates from the depositary.

Who is the depositary bank for Sequans ADSs?

The Bank of New York Mellon (BNYM) acts as depositary bank and plays a key role in the process of issuance and cancellation of ADSs.  For general information, please visit The Bank of New York Mellon’s website at www.adrbnymellon.com and search for Sequans Profile Page.

How do I update my account information or obtain information about my Sequans holdings?

ADS holders directly registered on the books of the depositary should direct questions about the account holdings to The Bank of New York Mellon’s Shareowner Services division by using the following contact:

The Bank of New York Mellon Investor Services
PO Box 505000
Louisville, KY 40233-5000

Overnight/certified/registered delivery : BNY Mellon, 462 South 4th Street, Suite 1600, Louisville, KY 40202

Toll Free number for Domestic U.S. calls:  888-269-2377
Number for calls from outside the U.S.:  1 201-680-6825

Email: shrrelations@bnymellon.com 
Website:  http://www.bnymellon.com/shareowner

Those owning Sequans ADSs through a broker or nominee in “street name” should direct questions about their holdings to their respective broker or nominee representative.

Does Sequans pay dividends?

No, Sequans does not currently pay dividends.

What if I have a question that hasn’t been answered?

Please visit the Contact Sequans Investor Relations section.