Ucommune Announces Extraordinary General Meeting

Rhea-AI Summary

Ucommune International Ltd (NASDAQ: UK) announced an extraordinary general meeting on August 19, 2022, at 10 A.M. Beijing time. The meeting's purpose is to amend the voting power of Class B ordinary shares from 15 votes to 35 votes per share. The record date for determining shareholders eligible to vote is August 2, 2022. Ucommune, a prominent agile office space manager in China, aims to enhance its capital structure and strengthen shareholder influence through this change.

Positive

• Increase in voting power for Class B ordinary shares from 15 to 35 votes, enhancing shareholder influence.

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• None.

BEIJING, Aug. 2, 2022 /PRNewswire/ -- Ucommune International Ltd (NASDAQ: UK) ("Ucommune" or the "Company"), a leading agile office space manager and provider in China, today announced an extraordinary general meeting of the Company (the "Meeting") will be held at 10 A.M. on August 19, 2022, Beijing time (10 P.M. on August 18, 2022, U.S. Eastern time) at Floor 8, No.2 Guanghua Road, Chaoyang District, Beijing, China. The purpose of the Meeting 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 of par value of US$0.002 each (the "Class B Ordinary Shares") from fifteen (15) votes for each Class B Ordinary Share to thirty-five (35) votes for each Class B Ordinary Share. Pursuant to the Current M&A, Company obtained the ordinary resolutions of the holders of Class B Ordinary Shares to approve the proposed variation of rights of Class B Ordinary Shares set forth in the notice of the Meeting on August 2, 2022. The Company has established the close of business on August 2, 2022, Eastern time (the "Record Date"), as the record date for determining shareholders entitled to notice of, and to vote at, the Meeting and any adjournments or postponements thereof.

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 extraordinary general meeting on August 19, 2022?

The meeting aims to amend the voting power of Class B ordinary shares from 15 votes to 35 votes each.

When is the record date for Ucommune's extraordinary general meeting?

The record date is August 2, 2022.

Where will Ucommune's extraordinary general meeting be held?

The meeting will be held at Floor 8, No.2 Guanghua Road, Chaoyang District, Beijing, China.

What stock symbol is associated with Ucommune International Ltd?

The stock symbol for Ucommune International Ltd is UK.