Ucommune Announces Adjournment of Extraordinary General Meeting
Ucommune International Ltd (NASDAQ: UK) announced the adjournment of its extraordinary general meeting originally held on August 19, 2022. The adjourned meeting is set for August 24, 2022. The purpose is to amend the voting power of Class B ordinary shares from 15 votes to 35 votes each. Shareholders approved the adjournment to allow further discussion on this amendment. The record date for determining eligible shareholders was August 2, 2022. Ucommune is a leading agile office space manager in China, offering flexible office solutions in economically vibrant regions.
- Shareholder approval for adjournment allows for further discussion of important amendments.
- Proposed increase in voting power for Class B shares may strengthen control for certain shareholders.
- Uncertainty regarding the outcome of the amended voting power discussion may affect investor confidence.
BEIJING, Aug. 19, 2022 /PRNewswire/ -- Ucommune International Ltd (NASDAQ: UK) ("Ucommune" or the "Company"), a leading agile office space manager and provider in China, today announced that at the extraordinary general meeting of the Company (the "Initial Meeting") held at 10 A.M. on August 19, 2022, Beijing time (10 P.M. on August 18, 2022, U.S. Eastern time), its shareholders approved the adjournment of the Initial Meeting to 10 A.M. on August 24, 2022, Beijing time (10 P.M. on August 23, 2022, U.S. Eastern time) ("Adjourned Meeting"), to be held in the same office at Floor 8, No.2 Guanghua Road, Chaoyang District, Beijing, China. The purpose of the Initial Meeting and the Adjourned Meeting is the same and is to amend the Company's Amended and Restated Memorandum and Articles of Association currently in effect (the "Current M&A") to change the voting power of the Class B ordinary shares, par value of US
Dial-in details: https://meeting.tencent.com/dm/ilrnykQyOJ5T
Copies of the notice of the Meeting and the form of proxy are available on the Company's corporate investor relations website at https://ir.ucommune.com.
About Ucommune International Ltd
Ucommune is China's leading agile office space manager and provider. Founded in 2015, Ucommune has created a large-scale intelligent agile office ecosystem covering economically vibrant regions throughout China to empower its members with flexible and cost-efficient office space solutions. Ucommune's various offline agile office space services include self-operated models, such as U Space, U Studio, and U Design, as well as asset-light models, such as U Brand and U Partner. By utilizing its expertise in the real estate and retail industries, Ucommune operates its agile office spaces with high efficiency and engages in the urban transformation of older and under-utilized buildings to redefine commercial real estate in China.
Safe Harbor Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "potential," "continue," "ongoing," "targets," "guidance" and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "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. Any statements that are not historical facts, including statements about the Company'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: the Company's growth strategies; its future business development, results of operations and financial condition; its ability to understand members' needs and provide products and services to attract and retain members; its ability to maintain and enhance the recognition and reputation of its brand; its ability to maintain and improve quality control policies and measures; its ability to establish and maintain relationships with members and business partners; trends and competition in China's agile office space market; changes in its revenues and certain cost or expense items; the expected growth of China's agile office space market; PRC governmental policies and regulations relating to the Company's business and industry, and general economic and business conditions in China and globally and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
Ucommune International Ltd
ir@ucommune.com
ICR, LLC
Robin Yang
ucommune@icrinc.com
+1 (212) 537-3847
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SOURCE Ucommune International Ltd
FAQ
What is the purpose of Ucommune's adjourned meeting on August 24, 2022?
When was the original meeting for Ucommune held?
What changes are being proposed for Class B shares during Ucommune's meetings?
What date was set for determining eligible Ucommune shareholders?
