© Reuters.
HONG KONG – iClick Interactive Asia Group Limited (NASDAQ: ICLK), a prominent enterprise and marketing cloud platform in China, announced today that its shareholders have approved a merger agreement that will see the company become a wholly owned subsidiary. The approval came during an extraordinary general meeting held today, where a majority of 99.77% of the votes cast were in favor of the merger with TSH Investment Holding Limited and its subsidiary.
The merger, first announced on November 24, 2023, is now pending the satisfaction or waiver of certain conditions as outlined in the agreement. iClick is collaborating closely with the other parties involved to meet these conditions and finalize the merger expeditiously. Once the merger is completed, iClick is expected to transition to a privately-held entity, and its American depositary shares (ADSs) will be delisted from NASDAQ and its ADS program terminated.
At the meeting, approximately 54.97% of iClick’s outstanding shares were present in person or by proxy, representing about 84.64% of the total voting power. The company’s Class A shares and Class B shares, including those represented by ADSs, each had different voting rights, with Class A shares carrying one vote each and Class B shares carrying twenty votes each.
Founded in 2009 and headquartered in Hong Kong, iClick has been a leader in providing data-driven solutions to brands, helping them grow their businesses throughout the consumer lifecycle. The company operates in eleven locations across Asia and Europe.
The completion of the merger is contingent upon meeting the remaining conditions set forth in the merger agreement. The company has made it clear that it does not intend to update the information provided in the press release unless required by law. This announcement is based on a press release statement.
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