SHANGHAI, Dec. 11, 2017 /PRNewswire/ -- eHi Car Services
Limited (NYSE: EHIC, "eHi" or the "Company), a leading car rental
and car services company in China,
announced today that, in response to the non-binding proposal from
Goliath Advisors Limited ("GAL") received by the Company's Board of
Directors on November
26th, 2017 (the "Proposal"), the Board of
Directors of eHi has formed a special committee (the "Special
Committee") comprised of independent directors Mr. Qian Miao, Mr. Andrew
Xuefeng Qian and Mr. David Jian
Sun, to evaluate the Proposal.
Since the Company's announcement of receipt of the Proposal on
November 27, 2017, GAL has further
indicated that its taking-private acquisition proposal is
conditional on certain management and existing shareholders of the
Company participating in the transaction contemplated by the
Proposal, subject to other conditions set forth in the
Proposal.
No decisions have been made by the Special Committee with
respect to the Company's response to the Proposal. The Special
Committee has not set a definitive timetable for the completion of
its evaluation of the Proposal or any other alternative
transactions (if any) and does not currently intend to announce
developments unless and in the event a definitive agreement has
been reached. There can be no assurance that any definitive offer
will be made, that any agreement will be executed or that the
transactions contemplated by the Proposal or any other transaction
will be approved or consummated.
About eHi Car Services Limited
eHi Car Services Limited (NYSE: EHIC) is a leading car rental
and car services providers in China. The Company's mission is
to provide comprehensive mobility solutions as an alternative to
car ownership by best utilizing existing resources and sharing
economy to create optimal value. eHi distinguishes itself
in China's fast-growing car rental and car services
market through its complementary business model, customer-centric
corporate culture, broad geographic coverage, efficient fleet
management, leading brand name, and commitment to technological
innovation. eHi is the exclusive strategic partner
in China of Enterprise, the largest car rental company in
the world, and is the designated and preferred business partner of
Ctrip, a leader in the online travel agency industry in China.
For more information regarding eHi, please
visit http://en.1hai.cn.
Safe Harbor Statement
This press release contains certain "forward-looking
statements" within the meaning of federal securities laws. All
statements, other than statements of historical facts, included
herein are "forward-looking statements" including, among other
things, statements about eHi's beliefs and expectations. The
expectations reflected in these forward-looking statements involve
significant assumptions, risks and uncertainties, and these
expectations may prove to be incorrect. Investors should not place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. Potential
risks and uncertainties include, but are not limited to, risks
discussed in ehi's filings with the U.S. Securities and Exchange
Commission at www.sec.gov. Other than as required under
the securities laws, the Company does not assume a duty to update
these forward-looking statements.
For investor and media inquiries, please contact:
In China:
eHi Car Services Limited
Tel: +86 (21) 6468-7000 ext. 8830
E-Mail: ir@ehic.com.cn
In the United States:
The Piacente Group, Inc.
Ms. Brandi Piacente
Tel: +1-212-481-2050
E-Mail: ehi@thepiacentegroup.com
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SOURCE eHi Car Services Limited