WUHAN, China, July 12, 2021 /PRNewswire/ -- DouYu International
Holdings Limited ("DouYu" or the "Company") (Nasdaq: DOYU), a
leading game-centric live streaming platform in China and a pioneer in the eSports value
chain, today announced that on July 10,
2021, the State Administration for Market Regulation of
the People's Republic of China, or
the SAMR, posted an announcement of its decision to prohibit the
proposed merger (the "Merger") between HUYA Inc. ("Huya") and DouYu
International Holdings Limited ("DouYu") following SAMR's antitrust
review (the "SAMR Decision"). DouYu fully respects and will abide
by the SAMR Decision, and will
comply with all regulatory requirements, conduct its
businesses in accordance with the applicable laws and regulations,
and fulfill its social responsibilities.
In light of the SAMR Decision, on July
12, 2021, Huya, Tiger Company Ltd., a wholly owned
subsidiary of Huya, DouYu, and Nectarine Investment Limited
("Tencent"), a wholly owned
subsidiary of Tencent Holdings
Limited entered into a termination agreement, pursuant to which the
Agreement and Plan of Merger, dated October
12, 2020, by and among the same parties (the "Merger
Agreement"), including all schedules and exhibits thereto, and all
ancillary agreements contemplated thereby or entered pursuant
thereto, were terminated with immediate effect. DouYu and
Tencent entered into a termination
agreement, dated July 12, 2021,
pursuant to which the Reassignment Agreement, dated October 12, 2020, by and between DouYu and
Tencent, including all schedules and
exhibits thereto, and all ancillary agreements contemplated thereby
or entered pursuant thereto, were terminated with immediate
effect.
DouYu previously announced that, in accordance with the terms of
the Merger Agreement, its board of directors approved a cash
dividend in an aggregate amount of US$60,000,000 (the "Cash Dividend") to be paid on
or around the date of the closing of the Merger and in no event
later than 20 days after the closing of the Merger to the holders
of ordinary shares of DouYu whose names appear on DouYu's register
of members as of the close of business on certain record date after
the date when the required DouYu shareholder approval is obtained
and prior to the closing of the Merger. In consideration of the
termination of the Merger, Douyu's board of directors approved the
cancellation of the Cash Dividend.
Concurrently, Tencent and Mr. Shaojie
Chen entered into a termination agreement on July 12, 2021, pursuant to which the Share
Transfer Agreement, dated August 13,
2020, by and among the same parties with respect to the
purchase by Tencent of 3,703,704
ordinary shares of DouYu from an affiliate of Mr. Shaojie Chen, including all schedules and
exhibits thereto, and all ancillary agreements contemplated thereby
or entered pursuant thereto, were terminated with immediate
effect.
As an independently operated and managed company, DouYu will
make continuous efforts to enhance leadership over China's eSports value chain, enrich quality
live-streaming, video and other content, and cultivate a highly
engaged and vibrant gamer community.
About DouYu International Holdings Limited
Headquartered in Wuhan, China,
DouYu International Holdings Limited (Nasdaq: DOYU) is a leading
game-centric live streaming platform in China and a pioneer in the eSports value
chain. DouYu operates its platform on both PC and mobile apps,
through which users can enjoy immersive and interactive games and
entertainment live streaming. DouYu's platform brings together a
deep pool of top live streamers. By providing a sustainable
streamer development system built on advanced technology
infrastructure and capabilities, DouYu helps ensure a consistent
supply of quality content. Through collaborations with a variety of
participants across the eSports value chain, the Company has gained
coveted access to a wide variety of premium eSports content, which
further attracts viewers and enhances user experience. For more
information, please see http://ir.douyu.com/.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. Statements that
are not historical facts, including statements about the Company's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties, and a number of factors could cause actual results
to differ materially from those contained in any forward-looking
statement. In some cases, forward-looking statements can be
identified by words or phrases such "as "may," "will," "expect,"
"anticipate," "target," "aim," "estimate," "intend," "plan,"
"believe," "potential," "continue," "is/are likely to" or other
similar expressions. Further information regarding these and other
risks, uncertainties or factors is included in the Company's
filings with the Securities Exchange Commission. All information
provided in this press release is as of the date of this press
release, and the Company does not undertake any duty to update such
information, except as required under applicable law.
Investor Relations Contact
Emma Ma
DouYu International Holdings Limited
Email: ir@douyu.tv
Phone: +1 (646) 224-6934
Robin Yang
ICR, Inc.
Email: DouYu.IR@icrinc.com
Phone: +1 (646) 224-6934
Media Relations Contact
Emma Ma
DouYu International Holdings Limited
Email: pr_douyu@douyu.tv
Phone: +1 (646) 308-1475
Edmond Lococo
ICR, Inc.
Email: DouYu.PR@icrinc.com
Phone: +1 (646) 308-1475
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SOURCE DouYu International Holdings Limited