Business
Kaixin Auto Holdings announces results of the Extraordinary Shareholders’ Meeting
BEIJING, May 07, 2021 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN) today announced the results of the extraordinary
About this update from Kaixin Holdings
[{"type":"text","content":"BEIJING, May 07, 2021 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN) today announced the results of the extraordinary shareholders’ meeting held on May 7, 2021. All agenda items presented at the meeting were approved by the shareholders, namely, (a) as an ordinary resolution that each authorised issued and unissued Ordinary share of a par value of US$0.0001 each be subdivided into 2 shares of a par value of US$0.00005 each, such that immediately following the Share Subdivision, the authorised share capital of the Company will be US$50,000 divided into 1,000,000,000 Ordinary shares of a par value of US$0.00005 each and (b) as a special resolution that the currently effective Second Amended and Restated Memorandum and Articles of Association of the Company be amended and restated by the deletion in their entirety and the substitution in their place of the Third Amended and Restated Memorandum and Articles of Association. About Kaixin Auto Holdings Kaixin Auto Holdings is one of the primary dealership networks in the premium used car segment in China. Supported by the rapid growth of China's used car market and leveraging its own hybrid business model that offers both strong online and offline presence, Kaixin has transformed from a tech-enabled financing platform into a nationwide dealer network that combines its own and affiliated dealers as well as value-added services. Safe Harbor Statement This announcement may contain 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. Among other things, the business outlook for 2021 and quotations from management in this announcement, as well as Kaixin’s strategic and operational plans, contain forward-looking statements. Kaixin may also make written or oral forward-looking statements in its filings with the U.S. Securities and Exchange Commission (\"SEC\"), 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 historic...