Sky-mobi Limited Announces Shareholder Approval of Merger Agreement
16 November 2016 - 9:10PM
Sky-mobi Limited (“Sky-mobi” or the “Company”) (Nasdaq:MOBI), a
mobile application platform and game publisher in China, today
announced that, at an extraordinary general meeting held today, the
Company’s shareholders voted in favor of the proposal to authorize
and approve the previously announced agreement and plan of merger
dated August 22, 2016 (the “Merger Agreement”), among the Company,
Amber Shining Investment Limited (“Parent”) and Power Rich Limited
(“Merger Sub”), pursuant to which, Merger Sub will be merged with
and into the Company with the Company continuing as the surviving
company and becoming a wholly owned subsidiary of Parent (the
“Merger”), and the plan of merger required to be filed with the
Registrar of Companies of the Cayman Islands (the “Plan of Merger”)
and the transactions contemplated thereby, including the Merger.
Approximately 98.6% of the Company’s total outstanding shares
voted in person or by proxy at today’s meeting were voted in favor
of the proposal to authorize and approve the Merger Agreement, the
Plan of Merger and the transactions contemplated thereby, including
the Merger.
Completion of the Merger is subject to the satisfaction or
waiver of the conditions set forth in the Merger Agreement.
The Company will work with various other parties to the Merger
Agreement to satisfy all other conditions precedent to the Merger
set forth in the Merger Agreement and complete the Merger as
quickly as possible. If and when completed, the Merger would
result in the Company becoming a privately held company and its
American depositary shares, each representing eight shares of the
Company, would no longer be listed on the NASDAQ Global Market.
About Sky-mobi Limited
Sky-mobi Limited is a mobile application platform and game
publisher in China. The Company works with handset companies to
pre-install its Maopao App Store and other Maopao applications on
handsets and with content providers to provide users with
applications and content titles. Users of Maopao App Store can
browse, download and enjoy a range of applications and content,
such as single-player games, mobile music and books on various
mobile handsets with different hardware and operating system
configurations. The Company also publishes domestic and foreign
game titles through its own Maopao App Store platform and third
party platforms. The Company's mobile social network community in
China, the Maopao Community, offers mobile social games as well as
applications and content with social networking functions to its
registered users. The Company is based in Hangzhou, China. For more
information, please visit: www.sky-mobi.com.
Safe Harbor Statements
This announcement contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. In some cases, you can identify
forward-looking statements by such terms as "may," "will,"
"believes," "expects," "anticipates," "intends," "estimates,"
"plans," "continues" or other similar expressions, the negative of
these terms, or other comparable terminology. Such statements are
subject to risks and uncertainties that could cause actual results
to differ materially from those projected. These forward-looking
statements are based on current expectations, assumptions,
estimates and projections about the Company and its industry. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by
law.
For further information, please contact:
Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
E-mail: lbergkamp@christensenir.com
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