51job, Inc. (JOBS) Shareholders Approve Merger Agreement
Get Alerts JOBS Hot Sheet
Join SI Premium – FREE
51job, Inc. (Nasdaq: JOBS) announced today 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, dated as of June 21, 2021, as amended by amendment No. 1 to agreement and plan of merger, dated as of March 1, 2022, between the Company and Garnet Faith Limited, an exempted company with limited liability incorporated under the laws of the Cayman Islands, and the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands, pursuant to which Merger Sub will merge with and into the Company, with the Company continuing as the surviving company, and to authorize and approve the consummation of any and all transactions contemplated by the Merger Agreement and the Plan of Merger, including the Merger.
Approximately 76% of the Company's total outstanding common shares, including common shares represented by the Company's American depositary shares (the "ADSs"), voted in person or by proxy at the extraordinary general meeting. Each shareholder has one vote for each common share. These shares represented approximately 76% of the total outstanding votes represented by the Company's total common shares outstanding at the close of business in the Cayman Islands on the record date of April 14, 2022. The Merger Agreement, the Plan of Merger and the transactions contemplated thereby, including the Merger, were approved by approximately 93% of the total votes cast at the extraordinary general meeting.
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 the other parties to the Merger Agreement towards satisfying all other conditions precedent to the Merger set forth in the Merger Agreement and completing the Merger as quickly as possible. If and when completed, the Merger would result in the Company becoming a privately held company and its ADSs would no longer be listed or traded on any stock exchange, including the NASDAQ Global Select Market, and the Company's ADS program would be terminated.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Glacier Bancorp (GBCI) Approved to Acquire Six Montana Branches From HTLF Bank (HTLF)
- Azul (AZUL) Said in Talks With Gol (GOL) Shareholder for Stock-Based Deal - Bloomberg
- Geospace Technologies (GEOS) Releases Land Seismic Data Acquisition Node
Create E-mail Alert Related Categories
Corporate News, Mergers and AcquisitionsRelated Entities
Definitive AgreementSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!