ChinaCache Adopts Shareholder Rights Plan
10 Maio 2018 - 7:00AM
ChinaCache International Holdings Ltd. ("ChinaCache" or the
"Company") (Nasdaq GS:CCIH), a leading total solutions provider of
Internet content and application delivery services in China, today
announced that its Board of Directors (the “Board”) has unanimously
adopted a shareholder rights plan (the “Rights Plan”).
The Rights Plan, which has a term of three years, is designed to
preserve long-term shareholder value in the event of a potential
takeover which appears to the Board to be coercive or unfair or
otherwise not in the best interest of the Company and its
shareholders. The Rights Plan was not adopted in response to
any specific effort to acquire control of the Company.
Pursuant to the Rights Plan, each shareholder as recorded in the
register of members at the close of business on May 21, 2018 (the
“Record Date”) will be granted one right for each outstanding
ordinary share of the Company held by the shareholder. The rights
are not immediately exercisable and subject to certain limited
exceptions, the rights will only be exercisable after the
acquisition of 15% or more of the Company’s ordinary shares by a
person or group (an “Acquiring Person”) or the commencement of a
tender offer or exchange offer that would result in a person or
group becoming an Acquiring Person.
Mr. Song Wang, Chairman and Chief Executive Officer of
ChinaCache, said, “Today’s action by the Board is a solid and
prudent step to protect and safeguard the long-term best interests
of our shareholders, our customers and the Company. Toward the end
of 2017, and a few times in 2018, we experienced uncharacteristic
volatility in our share price and trading volume. We serve a
number of sizeable and important customers and provide critical
services for their operations. With a Rights Plan in effect,
we are taking tangible action to mitigate risks that any potential
unsolicited takeover attempt would cause a disruption to the
essential services we provide. The Rights Plan also provides
the bedrock for a more stable environment from which management can
focus efforts on repositioning our longer-term strategy for
turnaround and the execution of those initiatives that will drive
it and deliver shareholder value.”
Details pertaining to the Rights Plan are contained in a Form
6-K filed by the Company with the U.S. Securities and Exchange
Commission on May 10, 2018.
About ChinaCache International Holdings
Ltd.
ChinaCache International Holdings Ltd. is a leading total
solutions provider of Internet content and application delivery
services in China. Through its distinctive 3-tier Internet
ecosystem, ChinaCache also offers Internet data center management,
Internet Exchange operations and cloud hosting services.
ChinaCache's network is interconnected with the incumbent
carriers as well as other local Internet & broadband service
providers in China. With two decades of experience in
developing customized solutions for China’s complex Internet
infrastructure, ChinaCache has helped enterprises, SME clients,
government agencies and other organizations enhance the reliability
and scalability of their online services and applications. To
learn more about ChinaCache and how it has improved end-user
experience, please visit ir.chinacache.com.
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" and similar statements. ChinaCache may also
make written or oral forward-looking statements in its reports
filed or furnished to the U.S. Securities and Exchange Commission,
in its annual reports to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. 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 statements, including but not limited to the
following: the Company's goals and strategies, expansion plans, the
expected growth of the content and application delivery services
market, the Company's expectations regarding keeping and
strengthening its relationships with its customers, and the general
economic and business conditions in the regions where the Company
provides its solutions and services. Further information regarding
these and other risks is included in the Company's filings with the
U.S. Securities and Exchange Commission. All information provided
in this press release is as of the date of this press release, and
ChinaCache undertakes no duty to update such information, except as
required under applicable law.
For investor and media inquiries please
contact:
Investor Relations DepartmentChinaCache International
HoldingsTel: +86 10 6408-5686Email: ir@chinacache.com
Mr. Ross WarnerThe Piacente Group | Investor RelationsTel: +86
10 5730-6201Email: chinacache@tpg-ir.com
Ms. Brandi PiacenteThe Piacente Group | Investor RelationsTel:
+1 212-481-2050Email: chinacache@tpg-ir.com
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