BEIJING, July 30, 2015 /PRNewswire/ -- E-Commerce
China Dangdang Inc. (NYSE: DANG) (the "Company" or "Dangdang"), a
leading business-to-consumer e-commerce company in China, today announced that the special
committee (the "Special Committee") of the Company's board of
directors has retained Duff & Phelps (Duff & Phelps, LLC
and Duff & Phelps Securities, LLC) as its financial advisor and
Shearman & Sterling LLP as its United
States legal counsel in connection with its review and
evaluation of the previously announced preliminary non-binding
"going private" proposal letter that the Company's board of
directors received on July 9,
2015.
The Special Committee is continuing its evaluation of the
proposed "going private" transaction. There can be no assurance
that any definitive offer will be made, that any agreement will be
executed or that this or any other transaction will be approved or
consummated. The Company does not undertake any obligation to
provide any updates with respect to this or any other transaction,
except as required under applicable law.
About Dangdang
E-Commerce China Dangdang Inc. is a leading business-to-consumer
e-commerce company in China. On
its website dangdang.com and through mobile Dangdang, the Company
offers books and media products as well as selected general
merchandise products including fashion and apparel, baby, children
and maternity and home and lifestyle products, among others. It
also operates the dangdang.com marketplace program, which allows
third-party merchants to sell their products alongside products
sourced by the Company. Dangdang is transforming itself into an
integrated online shopping experience with prominent destination
categories. Dangdang's nationwide fulfilment and delivery
capabilities, high-quality customer service support and scalable
technology infrastructure enable it to provide a compelling online
shopping experience to customers.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements.
Dangdang may also make written or oral forward-looking statements
in its periodic reports to the U.S. Securities and Exchange
Commission, in its annual report to shareholders, in press releases
and other written materials and in oral statements made by its
officers, directors or employees to third parties. Statements that
are not historical facts, including statements about Dangdang's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: Dangdang's
growth strategies; its future business development, results of
operations and financial condition; its ability to attract and
retain new customers and to increase revenues generated from repeat
customers; its expectations regarding demand for and market
acceptance of its products and services; trends and competition in
China's business-to-consumer
e-commerce market; changes in its revenues and certain cost or
expense items; the expected growth of the Chinese
business-to-consumer e-commerce market; Chinese governmental
policies relating to Dangdang's industry and general economic
conditions in China. Further
information regarding these and other risks is included in
Dangdang's annual report on Form 20-F and other documents filed
with the Securities and Exchange Commission. Dangdang does not
undertake any obligation to update any forward-looking statement,
except as required under applicable law. All information provided
in this press release is as of the date of this press release, and
Dangdang undertakes no duty to update such information, except as
required under applicable law.
Investor Relations Contact:
Tony Hung
Senior Investor Relations Director
E-Commerce China Dangdang Inc.
Phone: +86-10-5799-2301
E-mail: ir@dangdang.com
Elaine Ketchmere, CFA
Compass Investor Relations
+1-310-528-3031
Email: eketchmere@compass-ir.com
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SOURCE E-Commerce China Dangdang Inc.