Kaixin Auto Holdings announces results of the Extraordinary Shareholders’ Meeting
May 07 2021 - 6:00AM
Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN)
today announced the results of the extraordinary shareholders’
meeting held on May 7, 2021. All agenda items presented at the
meeting were approved by the shareholders, namely, (a) as an
ordinary resolution that each authorised issued and unissued
Ordinary share of a par value of US$0.0001 each be subdivided into
2 shares of a par value of US$0.00005 each, such that immediately
following the Share Subdivision, the authorised share capital of
the Company will be US$50,000 divided into 1,000,000,000 Ordinary
shares of a par value of US$0.00005 each and (b) as a special
resolution that the currently effective Second Amended and Restated
Memorandum and Articles of Association of the Company be amended
and restated by the deletion in their entirety and the substitution
in their place of the Third Amended and Restated Memorandum and
Articles of Association.
About Kaixin Auto Holdings
Kaixin Auto Holdings is one of the primary dealership networks
in the premium used car segment in China. Supported by the rapid
growth of China's used car market and leveraging its own hybrid
business model that offers both strong online and offline presence,
Kaixin has transformed from a tech-enabled financing platform into
a nationwide dealer network that combines its own and affiliated
dealers as well as value-added services.
Safe Harbor Statement
This announcement may contain 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. Among other things,
the business outlook for 2021 and quotations from management in
this announcement, as well as Kaixin’s strategic and operational
plans, contain forward-looking statements. Kaixin may also make
written or oral forward-looking statements in its filings with the
U.S. Securities and Exchange Commission ("SEC"), 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 Kaixin’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, including but not
limited to the following: our goals and strategies; our future
business development, financial condition and results of
operations; the expected growth of the social networking site
market in China; our expectations regarding demand for and market
acceptance of our services; our expectations regarding the
retention and strengthening of our relationships with used auto
dealerships; our plans to enhance user experience, infrastructure
and service offerings; competition in our industry in China; and
relevant government policies and regulations relating to our
industry. Further information regarding these and other risks is
included in our other documents filed with the SEC. All information
provided in this press release and in the attachments is as of the
date of this press release, and Kaixin does not undertake any
obligation to update any forward-looking statement, except as
required under applicable law.
For more information, please contact:
Kaixin Auto Holdings Investor
RelationsEmail: ir@kaixin.com
SOURCE: Kaixin Auto Holdings
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