SHANGHAI, Jan. 28, 2016 /PRNewswire/ -- Noah Holdings
Limited ("Noah" or the "Company") (NYSE: NOAH), today announced
that, at the extraordinary general meeting ("EGM") of shareholders
held on January 28, 2016, the
Company's shareholders voted in favor of the proposal to adopt a
dual-class share structure (the "Dual-class Share Structure"),
pursuant to which the Company's authorized share capital shall be
re-organized and re-designated into Class A ordinary shares
and Class B ordinary shares, with each Class A ordinary
share being entitled to one (1) vote and each Class B
ordinary share being entitled to four (4) votes on all matters
subject to vote at general meetings of the Company, as well as the
proposal to amend and restate the Company's memorandum and articles
of association to reflect the adoption of the Dual-class Share
Structure and other related matters. Ms. Jingbo Wang, Noah's Founder, Chairman and CEO,
and Mr. Zhe Yin, Noah's Co-founder,
Executive Director and CEO of Noah's subsidiary Gopher Asset
Management, will receive Class B ordinary shares and all other
shareholders will receive Class A ordinary shares.
"The dual-class share structure is an important part of our long
term strategy. We are building our platform for the next
decade. This structure will keep our focus on long-term
priorities rather than short-term fluctuations and ensure that we
keep intact our values and elements of success espoused by our
founders", commented Kenny Lam,
Noah's Group President.
ABOUT NOAH HOLDINGS LIMITED
Founded in 2005, Noah Holdings Limited is a leading wealth
management services provider with a focus on global wealth
investment and asset allocation services for high net worth
individuals and enterprises in China. In the third quarter of 2015, Noah
distributed over US$4.1 billion of
wealth management products. As of September
30, 2015, Noah had assets under management of US$12.1 billion.
Noah distributes a wide array of wealth management products,
including fixed income products, private equity fund products,
mutual fund products and insurance products. Noah also develops and
manages financial products denominated in both Renminbi and U.S.
dollars, covering real estate funds and funds of funds, including
private equity funds, real estate funds, hedge funds and fixed
income funds through Gopher Asset Management. In addition, in 2014,
the Company launched a proprietary internet finance platform to
provide financial products and services to white-collar
professionals and enterprise clients in China. Noah delivers customized financial
solutions to clients through a network of 1,038 relationship
managers across 130 branches and sub-branches in 65 cities in
China, and serves the
international investment needs of its clients through a wholly
owned subsidiary in Hong Kong. The
Company's wealth management business had 88,663 registered clients
as of September 30, 2015.
Noah has won numerous awards and recognition, including top 5 in
Fortune's list of Fastest-Growing Companies in 2015, Forbes' Best
Potential Business in China award
in 2015, STCN's Best Third Party Wealth Management Company award in
2014, Hurun Report's Popular Independent Wealth Management
Institution award in 2013 and 2014, and Deloitte's Technology Fast
500 Asia Pacific award in 2013.For more information please visit
Noah at ir.noahwm.com.
Contacts:
Ken Liu
Noah Holdings Limited
Tel: +86-21-8035-9221
ir@noahwm.com
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SOURCE Noah Holdings Limited