BEIJING, Sept. 12, 2016 /PRNewswire/ -- E-Commerce China
Dangdang Inc. (NYSE: DANG) (the "Company" or "Dangdang"), a leading
business-to-consumer e-commerce company in China, today announced that the Company's
shareholders voted in favor of, among others, the proposal to
authorize and approve (i) the previously announced agreement and
plan of merger (the "merger agreement") dated May 28, 2016 by and among Dangdang Holding
Company Limited ("Parent"), Dangdang Merger Company Limited
("Merger Sub") and the Company, pursuant to which Merger Sub will
be merged with and into the Company with the Company continuing as
the surviving company and a wholly-owned subsidiary of Parent after
the merger (the "merger"), (ii) the plan of merger required to be
filed with the Registrar of Companies of the Cayman Islands, substantially in the form
attached to the merger agreement (the "plan of merger"), and (iii)
the transactions contemplated by the merger agreement, including
the merger.
Approximately 97.7% of the voting rights of the shares voting in
person or by proxy were voted in favor of the proposal to authorize
and approve the merger agreement, plan of merger and the
transactions contemplated by the merger agreement, including the
merger. A two-thirds majority of the voting power represented by
the shares of the Company present and voting in person or by proxy
at the extraordinary general meeting was required for approving the
merger.
The parties currently expect to complete the merger as soon as
practicable, subject to the satisfaction or waiver of the
conditions set forth in the merger agreement. Upon completion of
the merger, the Company will become a privately held company and
its American depositary shares will no longer be listed on the New
York Stock Exchange.
Safe Harbor and Informational Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "if," "will," "expected," and
similar statements. Forward-looking statements involve inherent
risks, uncertainties and assumptions, including the possibility
that financing may not be available; the possibility that various
closing conditions for the transaction may not be satisfied or
waived; and other risks and uncertainties discussed in documents
filed with the SEC by the Company, including the Schedule 13E-3 and
the proxy statement filed by the Company. Further information
regarding the risks is included in the Company's filings with the
U.S. Securities and Exchange Commission. These forward-looking
statements reflect the Company's expectations as of the date of
this press release. You should not rely upon these forward-looking
statements as predictions of future events. The Company does not
undertake any obligation to update any forward-looking statement,
except as required under applicable law.
About Dangdang
E-Commerce China Dangdang Inc. is a leading business-to-consumer
e-commerce company in China. On
its website dangdang.com and through mobile Dangdang, the Company
offers books and media products as well as selected general
merchandise products including fashion and apparel, baby, children
and maternity and home and lifestyle products, among others. It
also operates the dangdang.com marketplace program, which allows
third-party merchants to sell their products alongside products
sourced by the Company. Dangdang is transforming itself into an
integrated online shopping experience with prominent destination
categories. Dangdang's nationwide fulfilment and delivery
capabilities, high-quality customer service support and scalable
technology infrastructure enable it to provide a compelling online
shopping experience to customers. For more information, please
visit ir.dangdang.com.
For more information, please contact:
Ye Ji
Investor Relations
E-Commerce China Dangdang Inc.
Phone: +86-10-5799-2306
E-mail: ir@dangdang.com
Elaine Ketchmere, CFA
Compass Investor Relations
+1-310-528-3031
Email: eketchmere@compass-ir.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/e-commerce-china-dangdang-inc-announces-shareholders-vote-to-approve-going-private-transaction-300326004.html
SOURCE E-Commerce China Dangdang Inc.