ReneSola and Bank of New York Mellon Agree to Waive Depositary Service Fee for Shareholders
SHANGHAI, Nov. 22, 2019 /PRNewswire/ -- ReneSola Ltd ("ReneSola" or the "Company") (www.renesolapower.com) (NYSE: SOL), a leading fully integrated solar project developer, today announced that the Company and Bank of New York Mellon ("BNYM"), the Company's depositary bank for its American Depositary Shares ("ADSs"), have reached an agreement to waive the annual depositary service fee ("DSF") for the holders of the Company's ADSs.
BNYM currently charges the holders of ReneSola's ADSs a fee of USD$0.02 per ADS per annum for depositary services. The agreement specifies that, effective November 21, 2019, ReneSola will make an annual payment to BNYM for depositary services on behalf of its shareholders.
The Board believes that this action reinforces our intention to be one of the most shareholder-friendly companies in the solar power development industry. As a global leader in our industry that is publicly traded in the United States, we strive to go beyond the highest standards of good corporate governance. While not required, this fee waiver is another indication of our commitment to treating our shareholders fairly and ethically.
Founded in 2005, and listed on the New York Stock Exchange in 2008, ReneSola (NYSE: SOL) is an international leading brand of solar project developer. Leveraging its global presence and solid experience in the industry, ReneSola is well positioned to develop green energy projects with attractive return around the world. For more information, please visit www.renesolapower.com.
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