JM Wowo Announces Results of 2016 Annual General Meeting
December 20 2016 - 8:30AM
Wowo Limited (the “Company” or “JM Wowo”) (NASDAQ:JMU), a leading
B2B online e-commerce platform that provides integrated services to
suppliers and customers in the foodservice industry in China, today
announced the results of its 2016 Annual General Meeting (“AGM”)
which was held on December 15, 2016 in Shanghai, where it adopted
the following resolutions, effective immediately:
- The change of company name to “JMU Limited”;
- The reelections of Mr. Jianguang Wu, Mr. Feng Pan and Dr. Gang
Yu as directors of the Company.
The Company’s board of directors believes that
the new name will better reflect its business scope since the
divestiture of Wowo Group Limited, the Company’s group buying and
other non-foodservice-related businesses.
About JM Wowo
JM Wowo currently operates China’s leading B2B
online e-commerce platform that provides integrated services to
suppliers and customers in the catering industry. With the help of
Internet and cloud technologies, JM Wowo has the vision to reshape
the procurement and distribution pattern and build a fair business
ecosystem in the catering industry in China. JM Wowo is further
promoting the use of its platform for small- and medium-sized
restaurants and restaurant chains in China.
Through cooperation with national and local
industry associations and reputable restaurant groups across China,
JM Wowo has formed a leading industrial alliance and has great
resource leverage in China’s catering industry. JM Wowo works
closely with suppliers and customers in the catering industry,
providing one-stop procurement services, as well as other
value-added services.
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 “aim”, “anticipate”, “believe”, “estimate”,
“expect”, “going forward”, “intend”, “ought to”, “plan”, “project”,
“potential”, “seek”, “may”, “might”, “can”, “could”, “will”,
“would”, “shall”, “should”, “is likely to” and the negative form of
these words and other similar expressions. Among other things,
statements that are not historical facts, including statements
about JM Wowo’s beliefs and expectations, the business outlook and
quotations from management in this announcement, as well as JM
Wowo’s strategic and operational plans, are or contain
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: The general economic and business conditions in China
may deteriorate. The growth of Internet and mobile user population
in China might not be as strong as expected. JM Wowo’s plan to
enhance customer experience, upgrade infrastructure and increase
service offerings might not be well received. JM Wowo might not be
able to implement all of its strategic plans as expected.
Competition in China may intensify further. All information
provided in this press release is as of the date of this press
release and are based on assumptions that we believe to be
reasonable as of this date, and JM Wowo does not undertake any
obligation to update any forward-looking statement, except as
required under applicable law.
Contact:
Lichao Zhao, IR Director
Wowo Limited
zhaolichao@ccjmu.com
Tel: +86-185-1627-8876
Bill Zima
ICR Inc.
bill.zima@icrinc.com
Tel: +1(203)-682-8200
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