BEIJING, Sept. 18, 2020 /PRNewswire/ — Bitauto Holdings Restricted (“Bitauto” or the “Firm”) (NYSE: BITA), a number one supplier of web content material & advertising and marketing providers, and transaction providers for China’s automotive trade, at the moment introduced it has referred to as a rare basic assembly of shareholders (the “EGM”), to be held on October 23, 2020 at 10:00 a.m. (China Commonplace Time), at JingAn Kerry Centre, Tower II, 46th Flooring, 1539 Nanjing West Highway, Shanghai 200040, China, to contemplate and vote on, amongst different issues, the proposal to authorize and approve the beforehand introduced settlement and plan of merger (the “Merger Settlement”) , dated June 12, 2020, among the many Firm, Yiche Holding Restricted (“Guardian”), and Yiche Mergersub Restricted, a completely owned Subsidiary of Guardian (“Merger Sub”), the plan of merger required to be filed with the Registrar of Firms of the Cayman Islands (the “Plan of Merger”) and the transactions contemplated thereby, together with the merger.
Based on the Merger Settlement and the Plan of Merger, on the efficient time of the merger, Merger Sub will merge with and into the Firm and stop to exist, with the Firm being the surviving firm and changing into a completely owned subsidiary of Guardian. If consummated, the merger would consequence within the Firm changing into a privately held firm, and its American depositary shares (every representing one Class A atypical share, par worth US$0.00004 per share) (the “ADSs”) would now not be listed or traded on the New York Inventory Change or every other inventory trade, and the Firm’s ADS program can be terminated. As well as, the Firm’s ADSs and Class A atypical shares represented by the ADSs would stop to be registered underneath Part 12 of the Securities Change Act of 1934 following the consummation of the merger.
The Firm’s board of administrators (the “Board”), performing upon the unanimous advice of a committee of unbiased administrators established by the Board, approved and accepted the execution, supply and efficiency of the Merger Settlement, the Plan of Merger and the consummation of the transactions contemplated thereby, together with the merger, and recommends that the Firm’s shareholders and ADS holders vote FOR, amongst different issues, the proposal to authorize and approve the execution, supply and efficiency of the Merger Settlement, the Plan of Merger and the consummation of the transactions contemplated thereby, together with the merger.
Shareholders of file on the shut of enterprise within the Cayman Islands on October 9, 2020 will probably be entitled to attend and vote on the EGM and any adjournment thereof. ADS holders as of the shut of enterprise in New York Metropolis on September 21, 2020 will probably be entitled to instruct Citibank, N.A., the ADS depositary, to vote the Class A atypical shares represented by the ADSs on the EGM.
Further data relating to the EGM and the Merger Settlement might be discovered within the transaction assertion on Schedule 13E-Three and the definitive proxy assertion hooked up as Exhibit (a)-(1) thereto, as amended, filed with the U.S. Securities and Change Fee (the “SEC”), which might be obtained, together with different filings containing details about the Firm, the proposed merger and associated issues, with out cost, from the SEC’s web site www.sec.gov. Requests for added copies of the definitive proxy assertion ought to be directed to Innisfree M&A Integrated, the Firm’s proxy solicitor, at +1-888-750-5834 (toll free in the US) or +1-412-232-3651 (exterior the US).
SHAREHOLDERS AND ADS HOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THESE MATERIALS AND OTHER MATERIALS FILED WITH OR FURNISHED TO THE SEC WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, THE PROPOSED MERGER AND RELATED MATTERS.
The Firm and sure of its administrators and govt officers could, underneath SEC guidelines, be deemed to be “individuals” within the solicitation of proxies from the shareholders with respect to the proposed Merger. Data relating to the individuals who could also be thought of “individuals” within the solicitation of proxies is about forth within the Schedule 13E-Three transaction assertion referring to the proposed Merger and the definitive proxy assertion hooked up thereto. Additional data relating to individuals who could also be deemed individuals, together with any direct or oblique pursuits they might have, can also be set forth within the definitive proxy assertion.
This announcement is for data functions solely and doesn’t represent a proposal to buy or the solicitation of a proposal to promote any securities or a solicitation of any proxy, vote or approval with respect to the proposed transaction or in any other case, nor shall or not it’s an alternative choice to any proxy assertion or different filings which have been or will probably be made with the SEC.
Protected Harbor Assertion
This press launch comprises statements that specific the Firm’s present opinions, expectations, beliefs, plans, goals, assumptions or projections relating to future occasions or future outcomes and subsequently are, or could also be deemed to be, “forward-looking statements” throughout the which means of the U.S. Non-public Securities Litigation Reform Act of 1995 (the “Act”). These forward-looking statements might be recognized by terminology resembling “if,” “will,” “anticipated” and related statements. Ahead-looking statements contain inherent dangers, uncertainties and assumptions. Dangers, uncertainties and assumptions embrace: uncertainties as to how the Firm’s shareholders will vote on the assembly of shareholders; the likelihood that competing presents will probably be made; the likelihood that financing is probably not out there; the likelihood that numerous closing situations for the transaction is probably not happy or waived; and different dangers and uncertainties mentioned in paperwork filed with the SEC by the Firm, in addition to the Schedule 13E-Three transaction assertion and the proxy assertion filed by the Firm. These forward-looking statements replicate the Firm’s expectations as of the date of this press launch. You shouldn’t rely on these forward-looking statements as predictions of future occasions. The Firm doesn’t undertake any obligation to replace any forward-looking assertion, besides as required underneath relevant legislation.
About Bitauto Holdings Restricted
Bitauto Holdings Restricted (NYSE: BITA) is a number one supplier of web content material & advertising and marketing providers, and transaction providers for China’s automotive trade. Bitauto’s enterprise consists of three segments: promoting and subscription enterprise, transaction providers enterprise and digital advertising and marketing options enterprise.
Bitauto’s promoting and subscription enterprise gives a wide range of promoting providers to automakers via the bitauto.com web site and corresponding cellular apps which offer shoppers with up-to-date car pricing and promotional data, specs, evaluations and client suggestions. Bitauto additionally gives transaction-focused on-line commercials and providers for promotional actions to its enterprise companions, together with automakers, car sellers, auto finance companions and insurance coverage firms. Bitauto presents subscription providers by way of its SaaS platform, which gives web-based and mobile-based built-in digital advertising and marketing options to new automobile car sellers in China. The SaaS platform allows car supplier subscribers to create their very own on-line showrooms, checklist pricing and promotional data, present car supplier contact data, place commercials and handle buyer relationships to assist them attain a broad set of purchase-minded prospects and successfully market their vehicles to shoppers on-line.
Bitauto’s transaction providers enterprise is primarily carried out by its managed subsidiary, Yixin Group Restricted (SEHK: 2858), a number one on-line car finance transaction platform in China, which gives transaction platform providers in addition to self-operated financing providers.
Bitauto’s digital advertising and marketing options enterprise gives automakers with one-stop digital advertising and marketing options, together with web site creation and upkeep, on-line public relations, on-line advertising and marketing campaigns, promoting agent providers, huge information purposes and digital picture creation.
For extra data, please go to ir.bitauto.com.
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