Car Services

EHi Car Services Announces Extraordinary General Meeting of Shareholders

Hi Car Services Limited (“eHi” or the “Company”) (NYSE: EHIC), a leading automobile condo and car services corporation in China, nowadays introduced that it has known as a first-rate widespread meeting of shareholders (the “EGM”) to be held on April 8, 2019, at 10:00 a.M. (Shanghai time), at Unit 12/F, Building No. 5, Guosheng Center, 388 Daduhe Road, Shanghai, 200062, the People’s Republic of China. The meeting might be held to don’t forget and vote on, among other topics: the notion to authorize and approve the formerly announced amended and restated settlement and plan of merger (the “Merger Agreement”) dated February 18, 2019, a few of the Company, Teamsport Parent Limited (“Parent”), and Teamsport Bidco Limited (“Merger Sub”), a completely owned subsidiary of Parent; the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands (the “Plan of Merger”); and the transactions contemplated thereby, which include the Merger (as defined under).

Car Services Announces

Under the Merger Agreement and the Plan of Merger, at the powerful time of the Merger, Merger Sub will merge with and into the Company, with the Company surviving the merger because of the surviving corporation under Cayman Islands law (the “Merger”). If completed, the proposed Merger might bring about the Company turning into a privately held organization this is wholly owned with the aid of affiliates of Mr. Ray Ruiping Zhang, the chairman, and leader executive officer of the Company, MBK Partners Fund IV, L.P., The Crawford Group, Inc., Ctrip Investment Holding Ltd., Ocean General Partners Limited and Dongfeng Asset Management Co., Ltd. (collectively, the “Buyer Group”).

Following the consummation of the Merger, the American depositary shares of the Company (every representing Class A, not great stocks, par price US$0.001 consistent with percentage) (“ADSs”) will not be listed at the New York Stock Exchange. Also, the ADSs and the Company’s Class A not outstanding stocks represented by the ADSs will cease to be registered beneath Section 12 of the Securities Exchange Act of 1934.

The Company’s board of directors, performing upon the unanimous recommendation of a special committee of the Company’s board of directors composed totally of impartial administrators unaffiliated with the Buyer Group or any member of the control of the Company, authorized and authorized the Merger Agreement, the Plan of Merger and the transactions contemplated thereby (together with the Merger) and resolved to propose that the Company’s shareholders vote FOR, among other things, the suggestion to authorize and approve the Merger Agreement, the Plan of Merger and the transactions contemplated thereby (which includes the Merger).

Shareholders of the file near business inside the Cayman Islands on March 22, 2019, might be entitled to wait and vote at the EGM. In addition, as of the close of commercial enterprise in New York City on March eleven, 2019, ADS holders can be allowed to coach JPMorgan Chase Bank, N.A., in its capacity because the ADS depositary, to vote the Class A common stocks represented via their ADSs at the EGM.

More Similar Posts