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Exceed calls extraordinary shareholders meeting
25
Mar '14
Exceed Company Ltd., one of the leading domestic sportswear brands in China, announced that it has called an extraordinary general meeting of its shareholders (the "Special Meeting"), to be held on April 16, 2014, at 10:00 a.m. (Hong Kong time), at United Conference Centre 10/F, United Centre, 95 Queensway, Hong Kong.
 
The meeting will consider and vote on the proposal to adopt the previously announced Agreement and Plan of Merger (the "Merger Agreement"), dated December 2, 2013, by and among the Company, Pan Long Company Limited ("Parent"), an exempted company with limited liability incorporated under the laws of the Cayman Islands and wholly owned by Mr. Shuipan Lin ("Mr. Lin"), the Company's Chairman and Chief Executive Officer, and Pan Long Investment Holdings Limited ("Merger Sub"), a wholly owned subsidiary of Parent.
 
Pursuant to the terms and subject to the conditions of the Merger Agreement, Merger Sub will merge with and into the Company with the Company as the surviving corporation and becoming a wholly owned subsidiary of Parent (the "Merger"). 
 
If completed, the Merger will result in the Company becoming a privately held company and the ordinary shares of the Company no longer being listed on NASDAQ. The Company's board of directors, acting upon the unanimous recommendation of an independent committee, approved the Merger Agreement and the Merger and resolved to recommend that the Company's shareholders vote to adopt the Merger Agreement.
 
Shareholders of record as of the close of business in the British Virgin Islands on March 21, 2014, the record date for the Special Meeting, are entitled to receive notice of the Special Meeting and to vote the ordinary shares of the Company owned by them at the Special Meeting. 
 

Exceed Company


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