Shopify shareholders to get 9 additional shares for every one share; Stock to trade at split-adjusted price from this date

The record date for Shopify 10 – 1 stock split was June 22, 2022 and the shareholders will receive 9 additional shares, for every 1 share held.

Shopify stock split is already approved by the company’s shareholders and the shares will trade on split-adjusted basis from June 29, 2022.

The record date for Shopify 10 – 1 stock split was June 22, 2022 and the shareholders will receive 9 additional Class A shares or Class B shares, as applicable, for every 1 share held. The additional shares will be credited to the investor’s account on June 28, 2022, from Computershare, the Company’s registrar and transfer agent.

On or around June 28, 2022, Computershare will send out direct registration system (DRS) advice statements to registered shareholders indicating the number of additional shares that they are receiving as a result of the Share Split. This will allow shareholders to hold their additional shares in book-entry form without having a physical share certificate issued.

Non-registered (beneficial) shareholders who hold their Class A shares in an account with their investment dealer or other intermediary will have their accounts automatically updated to reflect the Share Split in accordance with the applicable brokerage account providers’ usual procedures.

The New York Stock Exchange and the Toronto Stock Exchange had determined that the Class A shares would trade on a due bill basis from June 21, 2022 (being one trading day prior to the Record Date) to the Payment Date (i.e., June 28, 2022), inclusive.

A due bill is an entitlement attached to listed securities undergoing a material corporate action, such as the Share Split.

In this instance, the entitlement is to the additional Class A shares issuable as a result of the Share Split. Any trades that are executed during the due bill period will be flagged to ensure purchasers receive the entitlement to the additional Class A shares issuable as a result of the Share Split.

Ex-distribution trading in the Class A shares on a split-adjusted basis will commence on June 29, 2022, as of which date purchases of Class A shares will no longer have the attaching entitlement to the additional Class A shares. The due bill redemption date will be June 30, 2022. Earlier in April 2022, Shopify had announced that its Board had approved a proposed 10-for-1 split of the Company’s Class A and Class B shares. The share split makes share ownership more accessible to all investors.

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