BEIJING, Aug. 21, 2014
/PRNewswire/ -- iSoftStone Holdings Limited ("iSoftStone" or "the
Company," NYSE: ISS), a leading China-based IT services provider in
the People's Republic of China, is
pleased to announce that in addition to the previously
announced recommendation of Institutional Shareholder Services Inc.
("ISS"), Glass Lewis & Co., LLC ("Glass Lewis") and Egan-Jones
Proxy Services ("Egan-Jones") have recommended that iSoftStone
shareholders vote FOR the approval of the agreement and plan of
merger dated as of April 18, 2014 (the "Merger Agreement"),
among the Company, New iSoftStone Holdings Limited ("Parent") and
New iSoftStone Acquisition Limited, pursuant to which Parent will
acquire iSoftStone (the "Transaction") for US$0.57 per ordinary share of the Company (a
"Share") or US$5.70 per American
depositary share, each representing ten Shares (an "ADS").
Like ISS, Glass Lewis and Egan-Jones are leading independent
international proxy advisory firms and their voting analyses and
recommendations are relied upon by thousands of major institutional
investment firms, mutual funds and fiduciaries throughout the
world.
The Company's extraordinary general meeting of shareholders (the
"Shareholder Meeting") to consider and vote on, among other things,
the Merger Agreement and the Transaction will be held on
Monday, August 25, 2014 at
10:00 a.m. (Hong Kong Time) at 26th Floor, Gloucester Tower,
The Landmark, 15 Queen's Road Central, Hong Kong. Record holders of Shares on the
close of business in the Cayman
Islands on August 14, 2014 or
their proxy holders are entitled to vote at this meeting. Holders
of ADSs as of the close of business in New York City on August
4, 2014, are entitled to instruct J.P. Morgan Chase
Bank, N.A., in its capacity as the ADS depositary, how to vote the
Shares underlying their ADSs. ADS holders are reminded that
the ADS depositary must receive such voting instructions no later
than 10:00 a.m. (New York City Time) on Friday, August 22, 2014.
The Company's shareholders and ADS holders are encouraged to
read the Company's definitive proxy materials in their entirety as
they provide, among other things, important information regarding
the Merger Agreement and the Transaction. The Company has also
retained D.F. King & Co., Inc. ("D.F. King") as its proxy solicitor to assist it
in connection with its upcoming Shareholder Meeting. Shareholders
and ADS holders who have questions about the Merger Agreement or
the Transaction, need additional copies of the Company's proxy
materials, or need assistance in voting their shares are encouraged
to contact D.F. King by email at
isoftstone@dfking.com or by phone at +1-800-901-0068 (toll free) or
+1-212-269-5550 (outside of the United
States).
If shareholder approval of the Merger Agreement and the
Transaction is obtained at the Shareholder Meeting, the Transaction
is expected to close shortly thereafter. Upon the completion
of the Transaction, the Company will become privately held, and its
ADSs will no longer be listed on the New York Stock Exchange.
About iSoftStone Holdings Limited
Founded in 2001, iSoftStone is a leading China-based IT services provider serving both
greater China and global clients.
iSoftStone provides an integrated suite of IT services and
solutions, including consulting & solutions, IT services,
and business process outsourcing services. The company focuses on
industry verticals that include technology, communications,
banking, financial services, insurance, energy, transportation, and
public sectors.
Cautionary Statement concerning Forward Looking
Statements
This document may include certain statements that are not
descriptions of historical facts, but are forward-looking
statements. Such statements include, among others, those concerning
expected benefits and costs of the proposed Transaction; management
plans relating to the Transaction; the expected timing of the
completion of the Transaction; the parties' ability to complete the
Transaction considering the various closing conditions, including
any conditions related to regulatory approvals, as well as all
assumptions, expectations, predictions, intentions or beliefs about
future events. Forward-looking statements can generally be
identified by the use of forward-looking terminology such as
"will," "should," "may," "believes," "expects" or similar
expressions. All of such assumptions are inherently subject to
uncertainties and contingencies beyond the Company's control and
based upon premises with respect to future business decisions,
which are subject to change. The Company does not undertake any
obligation to update any forward-looking statement, except as
required under applicable law.
For more information, please contact:
iSoftStone Holdings Limited
Mr. Charles Zhang
Acting Chief Financial Officer
ir@isoftstone.com
Christensen
Mr. Tom Myers
+86 10 5900 1548
tmyers@christensenir.com
SOURCE iSoftStone Holdings Limited