Wanda Sports Group Company Limited Announces Intention to Terminate ADS Deposit Agreement and to seek Delisting of the ADSs f...
December 23 2020 - 7:37AM
Wanda Sports Group Company Limited (the “
Company”
or “
Wanda Sports Group”) (NASDAQ: WSG) today
announced that, in connection with the offer (the
“
Offer”) launched today by Wanda Sports &
Media (Hong Kong) Holding Co. Limited to acquire all of the issued
and outstanding class A ordinary shares of the Company (the
“
Class A Ordinary Shares”), including all Class A
Ordinary Shares represented by American depositary shares of the
Company (“
ADSs,” with every two ADSs representing
three Class A Ordinary Shares), the Company’s board of directors
(the “
Board”) has approved the termination of the
Deposit Agreement, dated as of July 26, 2019 and as amended, by and
among the Company, Deutsche Bank Trust Company Americas, and
holders and beneficial owners of ADSs issued thereunder (the
“
Deposit Agreement”). Notice is being provided to
holders of ADSs of the termination of the Deposit Agreement (the
“Notice”), which is expected to become effective on January 29,
2021, the expected date of the expiration of the Offer. The Board
has also approved seeking the delisting of the ADSs from the Nasdaq
Global Select Market (the “
Delisting”) as a result
of the termination of the Deposit Agreement. The delisting is
expected to occur on or about January 29, 2021.
The Company has filed with the U.S. Securities and Exchange
Commission (“SEC”) in relation to the Offer, the termination of the
Deposit Agreement and the Delisting a solicitation/recommendation
statement under a Schedule 14D-9 and a transaction statement under
a Schedule 13E-3 (collectively, the “Company
Filings”). This news release is for information purpose
only and is neither a solicitation/recommendation made by the
Company in relation to the Offer nor a substitute for any materials
filed as a part of the Company Filings. INVESTORS AND ADS HOLDERS
ARE URGED TO READ THE NOTICE AND THE COMPANY FILINGS IN THEIR
ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Investors and
ADS holders of the Company may obtain a free copy of these
materials and other documents filed with the SEC at the website
maintained by the SEC at www.sec.gov.
About Wanda Sports Group
Wanda Sports Group is a leading global sports
events, media and marketing platform with a mission to unite people
in sports and enable athletes and fans to live their passions and
dreams. Through its businesses, including Infront and the Wanda
Sports China, Wanda Sports Group has significant intellectual
property rights, long-term relationships and broad execution
capabilities, enabling it to deliver unrivalled sports event
experiences, creating access to engaging content and building
inclusive communities. Wanda Sports Group offers a comprehensive
array of events, marketing and media services through three primary
segments: Mass Participation, Spectator Sports and Digital,
Production, Sports Solutions (DPSS). Wanda Sport Group’s
full-service platform creates value for its partners and clients as
well as other stakeholders in the sports ecosystem, from rights
owners, to brands and advertisers, and to fans and athletes.
Headquartered in China, Wanda Sports Group has more
than 48 offices in 16 countries with over 1,000 employees around
the world. For more information, please visit
http://investor.wsg.cn/investor-relations.
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. These forward-looking statements include but
are not limited to, management quotes and the Company's financial
outlook. These forward-looking statements can be identified by
terminology such as ”will,” “estimate,” “project,” “predict,”
“believe,” “expect,” “anticipate,” “intend,” “potential,” “plan,”
“goal” and similar statements. The Company may also make written or
oral forward-looking statements in its periodic reports to
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. Such statements involve
certain risks and uncertainties that could cause actual results to
differ materially from those expressed or implied in the
forward-looking statements and, consequently, could be affected by
the uncertain and unprecedented impact of COVID-19 on the Company's
business and operations and the related impact on its liquidity
needs. These forward-looking statements include, but are not
limited to, statements about: the Company’s plan to terminate the
Deposit Agreement and seek the delisting of the ADSs from the
Nasdaq Global Select Market; and assumptions underlying or related
to any of the foregoing as well as risks, uncertainties, and other
factors described in “Risk Factors” and elsewhere in the Company’s
annual report on Form 20-F for the year ended December 31,
2019, which is available on the SEC’s website
at www.sec.gov. Additional information will be made available
in other filings that the Company makes from time to time with
the SEC.
In addition, any forward-looking statements
contained in this press release are based on assumptions that the
Company’s believes to be reasonable as of this date. The Company
undertakes no obligation to update any forward-looking statements
to reflect events or circumstances after the date of this press
release or to reflect new information or the occurrence of
unanticipated events, except as required by law.
For investor and media inquiries, please
contact:
Wanda Sports GroupEdith KwanTel: +86 (10) 8558
7456E-mail: ir@wsg.cn
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