BEIJING, May 30, 2016 /PRNewswire/ -- eLong, Inc. ("eLong"
or the "Company") (NASDAQ: LONG), a leading mobile and online
travel service provider in China,
announced today that, at an extraordinary general meeting held
today, the Company's shareholders voted in favor of the proposal to
authorize and approve the previously announced agreement and plan
of merger (the "merger agreement") dated February 4, 2016 and amended on April 1, 2016 by and among China E-dragon
Holdings Limited ("Parent"), China E-dragon Mergersub Limited
("Merger Sub") and the Company, pursuant to which Merger Sub will
be merged with and into the Company with the Company continuing as
the surviving company as a wholly-owned subsidiary of Parent after
the merger (the "merger"), and to authorize and approve any and all
transactions contemplated by the merger agreement, including the
merger.
Immediately after the completion of the merger, Parent will be
beneficially owned by (i) TCH Sapphire Limited, an affiliate of
Tencent Holdings Limited, (ii)
C-Travel International Limited, an affiliate of Ctrip.com
International, Ltd., (iii) Ocean Imagination L.P., (iv) Luxuriant
Holdings Limited, (v) Seagull Limited, (vi) Oasis Limited, an
entity controlled by Mr. Hao Jiang, the Chief Executive Officer of
the Company, and (vii) Mr. Rong Zhou, the Chief Operating Officer
of the Company.
Approximately 76.215% of the Company's total outstanding voting
ordinary shares, each of which is entitled to one vote, and all of
the Company's outstanding high-vote ordinary shares, each of which
is entitled to fifteen votes, representing approximately 98.183% of
the total voting power of the Company, voted in person or by proxy
at today's extraordinary general meeting. Of the voting power
represented by these ordinary shares and high-vote ordinary shares
voted in person or by proxy at the extraordinary general meeting,
approximately 99.998% were voted in favor of the proposal to
authorize and approve the merger agreement and any and all
transactions contemplated by the merger agreement, including the
merger. A two-thirds majority of the voting power represented by
the ordinary shares of the Company present and voting in person or
by proxy at the extraordinary general meeting was required for
approval of the merger. The parties currently expect to complete
the merger as soon as practicable, subject to the satisfaction or
waiver of the conditions set forth in the merger agreement. Upon
completion of the merger, the Company will become a privately held
company and its American depositary shares, each representing two
ordinary shares designated as "ordinary shares" of the Company, par
value US$0.01 per share, will no
longer be listed on any stock exchange, including the NASDAQ Global
Select Market.
About eLong
eLong, Inc. (Nasdaq: LONG) is a leader in mobile and online
accommodations reservations in China. eLong technology enables travelers to
book hotels, guesthouses, apartments and other accommodations, as
well as air and train tickets, through convenient mobile and tablet
applications, websites (www.eLong.com), 24 hour customer service,
and easy to use tools such as destination guides, maps and user
reviews.
Safe Harbor Statement
Any statements in this announcement about prospective
performance and plans for the Company, the expected timing to
completion of the proposed merger and the ability to complete the
proposed merger, and any other statements containing the words
"anticipate," "believe," "estimate," "expect," "forecast,"
"intend," "may," "plan," "project," "predict," "future," "is/are
likely to," "should" and "will" and similar expressions, other than
historical facts, constitute forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
Section 21E of the Securities Exchange Act of 1934, as amended, and
as defined in the Private Securities Litigation Reform Act of
1995. These statements are, by their nature, subject to a
number of risks and uncertainties that could cause our actual
performance and results to differ materially from those discussed
in the forward-looking statements.
In addition, the forward-looking statements included in this
announcement represent our views as of the date hereof. We
anticipate that subsequent events and developments will cause our
views to change. However, while we may elect to update these
forward-looking statements at some point in the future, we
specifically disclaim any obligation to do so. These
forward-looking statements should not be relied upon as
representing our views as of any date subsequent to the date
hereof.
Contact:
eLong, Inc.
Investor Relations
+86-10-6436-7570
ir@corp.elong.com
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SOURCE eLong, Inc.