E-House (EJ) Shareholders Approve Merger Agreement
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E-House (China) Holdings Limited (NYSE: EJ) announced that, at an extraordinary general meeting, the Company's shareholders voted in favor of the proposal to authorize and approve the previously announced agreement and plan of merger dated April 15, 2016 (the "Merger Agreement") by and among E-House Holdings Ltd. ("Parent"), E-House Merger Sub Ltd. ("Merger Sub") and the Company, the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands, substantially in the form attached to the Merger Agreement (the "Plan of Merger"), and the transactions contemplated thereby (including the Merger, as defined below).
Of those shares voted at the meeting, approximately 89.79% were voted in favor of the proposal to authorize and approve the Merger Agreement, 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"), the Plan of Merger and the transactions contemplated thereby, including the Merger.
The parties currently expect that the Merger will close in August 2016, subject to the satisfaction or waiver of the conditions set forth in the Merger Agreement. Upon the completion of the Merger, the Company will become a privately held company, and its American depositary shares, each representing one ordinary share of the Company, will no longer be listed on the New York Stock Exchange.
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