BEIJING, March 11, 2016 /PRNewswire/ -- Jumei
International Holding Limited (NYSE: JMEI) ("Jumei" or the
"Company"), China's leading online
retailer of beauty products, today announced that it has appointed
Mr. Adam J. Zhao as a new member to
its board of directors (the "Board"). In addition, the Board
has formed a special committee to consider the non-binding "going
private" proposal that the Board received on February 17, 2016.
New Director Appointment
The Company appointed Mr. Adam J.
Zhao as a director. The Board reviewed the independence
of Mr. Zhao and determined that Mr. Zhao satisfied the independence
requirements of Section 303A of the Corporate Governance Rules of
the New York Stock Exchange and the "independence" standards under
Rule 10A-3 under the Securities Exchange Act of 1934.
Mr. Adam J. Zhao has been the
chief financial officer and board secretary of PapayaMobile since
December 2014. Mr. Zhao is currently
an independent director of eLong, Inc. (Nasdaq: LONG). Prior to
joining PapayaMobile, Mr. Zhao was the CFO and board secretary of
Country Style Cooking Restaurant Chain (NYSE: CCSC), beginning in
January 2012. Prior to that, he was
the corporate vice president of Ninetowns Internet Technology Group
(Nasdaq: NINE), beginning in August
2007. From 2004 to 2007, he was the CFO of Digital Media
Group acquired by VisionChina (Nasdaq: VISN). Mr. Zhao's earlier
experiences include investment management positions at New Hope
Capital and serving as an investment director at a Hong Kong investment company. Mr. Zhao
received his bachelor's degree in economics from Beijing
International Study University in 1989 and his MBA from the
University of Illinois in Chicago in
2003.
Formation of Special Committee
The Board has formed a special committee consisting of two
independent and disinterested directors, Mr. Sean Shao and newly-appointed director Mr.
Adam J. Zhao, to consider the
previously announced preliminary non-binding "going private"
proposal that the Board received on February
17, 2016. Mr. Sean Shao
will chair the special committee.
The Board cautions the Company's shareholders and others
considering trading in its securities that the Board just received
the aforementioned preliminary non-binding proposal letter and no
decisions have been made with respect to the Company's response to
the proposal. There can be no assurance that any definitive offer
will be made, that any agreement will be executed or that this or
any other transaction will be approved or consummated. The
Company does not undertake any obligation to provide any updates
with respect to this or any other transaction, except as required
under applicable law.
About Jumei
Jumei (NYSE: JMEI) is China's
leading online retailer of beauty products. Jumei's internet
platform is a trusted destination for consumers to discover and
purchase branded beauty products, fashionable apparel and other
lifestyle products through the Company's jumei.com and
jumeiglobal.com websites and mobile application. Leveraging its
deep understanding of customer needs and preferences, as well as
its strong merchandizing capabilities, Jumei has adopted multiple
effective sales formats to encourage product purchases on its
platform, including curated sales, online shopping mall and flash
sales. More information about Jumei can be found at
http://jumei.investorroom.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates" and similar statements. Jumei may also make
written or oral forward-looking statements in its periodic reports
to the U.S. Securities and Exchange Commission ("SEC") on Forms
20-F and 6-K, in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Statements
that are not historical facts, including statements about Jumei's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement. Further information regarding such risks and
uncertainties is included in Jumei's filings with the SEC,
including its annual report on Form 20-F. All information provided
in this press release and in the attachments is as of the date of
this press release, and Jumei does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
For investor and media inquiries, please contact:
Jumei International Holding Limited
Mr. Sterling Song
Investor Relations Director
Phone: +86-10-5676-6983
Email: kans@jumei.com
Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
Email: carnell@christensenir.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com
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SOURCE Jumei International Holding Limited