Home / Knowledge / News / Apparel/Garments / Exceed to further adjourn extraordinary general meeting
Exceed to further adjourn extraordinary general meeting
29
Jul '14
Exceed Company Ltd., one of the leading domestic sportswear brands in China, announced that it intends to further adjourn its extraordinary general meeting of shareholders that was called to authorize and approve the proposed 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, a wholly owned subsidiary of Parent.
 
The extraordinary general meeting was originally scheduled to take place in Hong Kong on April 16, 2014. It was subsequently adjourned to July 29, 2014 following Mr. Lin's advice to the Company that he required additional time to obtain the contemplated financing for the proposed transaction. At the extraordinary general meeting, shareholders will consider and vote on the proposal to authorize and approve the Merger Agreement.
 
On July 28, 2014, the independent committee and the board of directors of the Company determined that a further adjournment of the meeting would be in the best interests of its shareholders because Mr. Lin had advised the Company that he required additional time to obtain the contemplated financing for the proposed transaction. The Company intends to hold the extraordinary general meeting of shareholders on July 29, 2014 but to immediately adjourn the meeting without conducting any business.
 
Apart from the motion to adjourn, no other business will be conducted at the extraordinary general meeting of shareholders on July 29, 2014. The resolutions set out in the notice of the extraordinary general meeting dated July 10, 2014 will be considered and voted on at such time as the adjourned extraordinary general meeting is resumed.
 
The Company intends to resume the adjourned extraordinary general meeting of shareholders as soon as practicable following confirmation from Mr. Lin that financing is on deposit in an account outside of the People's Republic of China and available at the closing of the transaction. The Company will give notice to shareholders of the date on which the adjourned extraordinary general meeting will be resumed as soon as a date is selected, and in any event not less than seven calendar days prior to such resumed meeting.
 

Exceed Company Ltd


Must ReadView All

Textiles | On 28th May 2016

US to rethink on inclusion of Indian PET in GSP

With the US set to rethink the inclusion of polyethylene...

Textiles | On 28th May 2016

China’s textile exports marginally down in Jan-April

The exports of textiles and apparel from China dropped marginally...

Textiles | On 28th May 2016

MMF sector seeks anti-dumping duty on Chinese fabrics

Reeling under the impact of cheap Chinese fabrics, Surat’s textile...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

Which chemicals are likely to dominate the sustainable textiles industry?...

Dinaz Madhukar
DLF Emporio and DLF Promenade

How do you see the competition from e-stores? What is the marketing...

Veronique Lee
Modavanti

Sustainable fashion is not necessarily pocket- friendly. Are consumers...

Kai Poehler
Voith Paper GmbH & Co. KG

<b><i>The glass mat industry is growing by five to eight per cent...

Eric Scholler
Groz-Beckert

<b><i>The Indian market has huge potential in technical textiles, and by...

Steve Cole
Xerium Technologies

<b><i>Steve Cole of Xerium Technologies discusses the industry. Xerium is...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
May 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search