BEIJING, Oct. 23, 2020 /PRNewswire/ — Bitauto Holdings Restricted (“Bitauto” or the “Firm”) (NYSE: BITA), a number one supplier of web content material & advertising and marketing companies, and transaction companies for China’s automotive business, right this moment introduced that at a unprecedented basic assembly held right this moment, the Firm’s shareholders voted in favor of (i) the proposal to authorize and approve the beforehand introduced settlement and plan of merger, dated as of June 12, 2020 (the “Merger Settlement”), by the Firm, Yiche Holding Restricted (“Dad or mum”), and Yiche Mergersub Restricted (“Merger Sub”), pursuant to which Merger Sub will merge with and into the Firm, with the Firm persevering with because the surviving firm and changing into a completely owned subsidiary of the Dad or mum (the “Merger”), (ii) the plan of merger required to be filed with the Registrar of Corporations of the Cayman Islands (the “Plan of Merger”), and (iii) the consummation of the transactions contemplated by the Merger Settlement and the Plan of Merger, together with the Merger.
Roughly 88.9% of the Firm’s whole extraordinary shares excellent as of the shut of enterprise within the Cayman Islands on the share document date of October 9, 2020 voted in individual or by proxy on the extraordinary basic assembly. Every shareholder has one vote for every extraordinary share. Of the extraordinary shares voted on the assembly, roughly 99.9% voted in favor of the Merger Settlement, the Plan of Merger and the transactions contemplated thereby, together with the Merger.
Completion of the Merger is topic to the satisfaction or waiver of the closing circumstances set forth within the Merger Settlement. The Firm will work with the opposite events to the Merger Settlement in the direction of satisfying the closing circumstances and full the Merger in a well timed method. If and when accomplished, the Firm will turn out to be a non-public firm and its American depositary shares will now not be listed or traded on any inventory alternate.
About Bitauto Holdings Restricted
Bitauto Holdings Restricted (NYSE: BITA) is a number one supplier of web content material & advertising and marketing companies, and transaction companies for China’s automotive business. Bitauto’s enterprise consists of three segments: promoting and subscription enterprise, transaction companies enterprise and digital advertising and marketing options enterprise.
Bitauto’s promoting and subscription enterprise supplies quite a lot of promoting companies to automakers by way of the bitauto.com web site and corresponding cell apps which give customers with up-to-date vehicle pricing and promotional data, specs, evaluations and shopper suggestions. Bitauto additionally supplies transaction-focused on-line commercials and companies for promotional actions to its enterprise companions, together with automakers, vehicle sellers, auto finance companions and insurance coverage firms. Bitauto provides subscription companies by way of its SaaS platform, which supplies web-based and mobile-based built-in digital advertising and marketing options to new automobile vehicle sellers in China. The SaaS platform allows vehicle supplier subscribers to create their very own on-line showrooms, record pricing and promotional data, present vehicle supplier contact data, place commercials and handle buyer relationships to assist them attain a broad set of purchase-minded prospects and successfully market their cars to customers on-line.
Bitauto’s transaction companies enterprise is primarily performed by its managed subsidiary, Yixin Group Restricted (SEHK: 2858), a number one on-line vehicle finance transaction platform in China, which supplies transaction platform companies in addition to self-operated financing companies.
Bitauto’s digital advertising and marketing options enterprise supplies 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 companies, large information purposes and digital picture creation.
For extra data, please go to ir.bitauto.com.
Protected Harbor Assertion
This press launch comprises statements that categorical the Firm’s present opinions, expectations, beliefs, plans, aims, assumptions or projections concerning future occasions or future outcomes and due to this fact are, or could also be deemed to be, “forward-looking statements” throughout the that means of the U.S. Non-public Securities Litigation Reform Act of 1995 (the “Act”). These forward-looking statements will be recognized by terminology corresponding to “if,” “will,” “anticipated” and related statements. Ahead-looking statements contain inherent dangers, uncertainties and assumptions. Dangers, uncertainties and assumptions embody: uncertainties as to how the Firm’s shareholders will vote on the assembly of shareholders; the likelihood that competing provides shall be made; the likelihood that financing is probably not obtainable; the likelihood that varied closing circumstances 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-3 transaction assertion and the proxy assertion filed by the Firm. These forward-looking statements mirror the Firm’s expectations as of the date of this press launch. You shouldn’t depend upon 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.
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Bitauto Holdings Restricted
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