Yiche's Privatization Agreement Approved By General Meeting Of Shareholders

Yiche recently announced that the company’s privatization agreement reached previously had been approved by shareholders at an extraordinary general meeting.

In June 2020, Yiche Holding Limited and Yiche Mergersub Limited signed a privatization agreement. According to the agreement, Yiche will be acquired by an investor consortium at a price of USD16 per ADS in cash, valuing Yiche at about USD1.1 billion.

The announcement also disclosed that the transaction was expected to be completed in the second half of 2020, and the acquisition funds of the investor consortium would be a combination of cash and existing equity. After that, Yiche will become a private company and be delisted from the New York Stock Exchange.

It is said that shareholders representing approximately 88.9% of Yiche’s total outstanding shares participated in the voting in person or by delegated representatives, and each shareholder has one vote per ordinary share. In the end, shareholders passed the privatization agreement with about 99.9% approval.

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