SHANGHAI, April 8, 2019 /PRNewswire/ -- eHi Car Services
Limited ("eHi" or the "Company") (NYSE: EHIC), a leading car rental
and car services company in China,
today announced that at an extraordinary general meeting of
shareholders held today, the Company's shareholders voted in favor
of, among other things, the proposal to authorize and approve the
previously announced agreement and plan of merger (the "Merger
Agreement"), dated February 18, 2019,
among the Company, Teamsport Parent Limited ("Parent") and
Teamsport Bidco Limited ("Merger Sub"), pursuant to which Merger
Sub will be merged with and into the Company with the Company
continuing as the surviving company (the "Merger"), the plan of
merger required to be filed with the Registrar of Companies of the
Cayman Islands in connection with
the Merger (the "Plan of Merger") and the transactions contemplated
by the Merger Agreement and the Plan of Merger, including the
Merger.
Approximately 75.60% of the Company's total outstanding ordinary
shares, representing approximately 94.42% voting rights of the
Company entitled to vote at the extraordinary general meeting,
voted in person or by proxy at today's extraordinary general
meeting. Of those voting rights, approximately 98.98% were voted in
favor of the proposal to authorize and approve the Merger
Agreement, the Plan of Merger and any and all transactions
contemplated by the Merger Agreement, including the Merger. This
represents approximately 93.46% of the total voting power of the
Company's shares that are issued and outstanding, and approximately
55.45% of the total number of the Company's Class A common shares,
par value US$0.001 per share (each, a
"Class A Share"), that are issued and outstanding, that were voted
at today's extraordinary general meeting in favor of the proposal
to authorize and approve the Merger Agreement and the transactions
contemplated by the Merger Agreement, including the Merger.
The parties currently expect to complete the Merger within the
month, subject to the satisfaction or waiver of the conditions set
forth in the Merger Agreement. If and when completed, the Merger
will result in the Company becoming a privately-held company and
the American depositary shares of the Company (each representing
two Class A Shares) ("ADSs") will no longer be listed on the New
York Stock Exchange. In addition, the ADSs and the Class A Shares
represented by the ADSs will cease to be registered under Section
12 of the Securities Exchange Act of 1934.
About eHi Car Services Limited
eHi Car Services Limited (NYSE: EHIC) is a leading car rental
and car services provider in China. The Company's mission is
to provide comprehensive mobility solutions as an alternative to
car ownership by best utilizing existing resources and sharing
economy to create optimal value. eHi distinguishes itself
in China's fast-growing car rental and car services
market through its complementary business model, customer-centric
corporate culture, broad geographic coverage, efficient fleet
management, leading brand name, and commitment to technological
innovation. eHi is the exclusive strategic partner
in China to the brands Enterprise Rent-A-Car, National
Car Rental and Alamo Rent A Car owned by Enterprise Holdings, Inc.,
the largest car rental provider in the world. Enterprise Holdings,
Inc. is owned by The Crawford Group, Inc. For more information
regarding eHi, please visit http://en.1hai.cn.
Safe Harbor
This news release may include certain statements that are not
descriptions of historical facts, but are forward-looking
statements. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates" and similar statements.
Forward-looking statements involve risks, uncertainties and other
factors that could cause actual results to differ materially from
those contained in any such statements. Potential risks and
uncertainties include, but are not limited to, the possibility that
various closing conditions to the Merger may not be satisfied or
waived and other risks and uncertainties discussed in the Company's
filings with the SEC, as well as the Schedule 13E-3 transaction
statement and the proxy statement filed by the Company in
connection with the Merger. The Company does not undertake any
obligation to update any forward-looking statement, except as
required under applicable law.
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SOURCE eHi Car Services Limited