WENLING, China, Nov. 20, 2020 /PRNewswire/ -- Fuling Global Inc.
(Nasdaq: FORK) ("Fuling Global" or the "Company"), a manufacturer
and distributor of mainly environmentally-friendly plastic and
paper foodservice disposable products, announced that at an
extraordinary general meeting of shareholders (the "EGM") held
today, the Company's shareholders voted in favor of, among other
things, the proposal to authorize and approve (i) the previously
announced agreement and plan of merger dated as of September 1, 2020 (the "Merger Agreement"), by
and among the Company, Fuling ParentCo Inc., an exempted company
with limited liability incorporated under the laws of the
Cayman Islands ("Parent") and
Fuling MergerCo Inc., an exempted company with limited liability
incorporated under the laws of the Cayman
Islands and a wholly-owned subsidiary of Parent ("Merger
Sub"); (ii) the plan of merger required to be filed with the
Registrar of Companies of the Cayman
Islands (the "Plan of Merger"), pursuant to which Merger Sub
will merge with and into the Company, with the Company continuing
as the surviving company and becoming a wholly owned subsidiary of
the Parent (the "Merger"); and (iii) any and all transactions
contemplated by the Merger Agreement and the Plan of Merger,
including the Merger.
Six registered shareholders entitled to vote were present at the
EGM by proxy or by their duly authorized representatives
representing 72.71% in nominal value of the total issued voting
shares in the Company. As such, a quorum was present. The Merger
Agreement, the Plan of Merger and the transactions contemplated
thereby, including the Merger, were approved by approximately
95.25% of the ordinary shares present and voting in person or by
proxy at the EGM.
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 ordinary shares will no longer be listed on the NASDAQ Capital
Market.
About Fuling Global Inc.
Fuling Global manufactures and distributes mainly
environmentally-friendly disposable serviceware for the foodservice
industry, with six precision manufacturing facilities in the U.S.,
Mexico, Indonesia and China. The Company's plastic and paper
serviceware products include disposable cutlery, drinking straws,
cups, plates and other plastic and paper products and are used by
more than one hundred customers, including some of the world's most
notable quick-service restaurants and retailers, primarily in the
U.S., China, Canada and European countries. More
information about the Company can be found at:
http://ir.fulingglobal.com/.
Safe Harbor Statement
This press release contains statements that express the
Company's current opinions, expectations, beliefs, plans,
objectives, assumptions or projections regarding future events or
future results and therefore are, or may be deemed to be,
"forward-looking statements" within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995 (the "Act"). These
forward-looking statements can be identified by terminology such as
"if," "will, ""expected" and similar statements. Forward-looking
statements involve inherent risks, uncertainties and assumptions
and other factors that could cause actual results to differ
materially from those contained in any such statements. Risks,
uncertainties and assumptions include, but are not limited to the
following: uncertainties as to the expected benefits and costs of
the proposed Merger, the expected timing of the completion of the
Merger, and the parties' ability to complete the Merger considering
the various closing conditions; the possibility that financing may
not be available; the possibility that various closing conditions
for the transaction may not be satisfied or waived; and other risks
and uncertainties discussed in documents filed with the SEC by the
Company, as well as the Schedule 13E-3 transaction statement and
the proxy statement filed by the Company. These forward-looking
statements reflect the Company's expectations as of the date of
this press release. You should not rely upon these forward-looking
statements as predictions of future events. The Company does not
undertake any obligation to update any forward-looking statement,
except as required under applicable law.
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SOURCE Fuling Global Inc.
