Buyer Consortium Updates Shareholders of Hollysys Automation Technologies With Additional Information Relating to Consent Solicitation
July 14, 2021 at 00:29 AM EDT
The buyer consortium (the “Consortium”) consisting of Mr. Shao Baiqing, Ace Lead Profits Limited, and CPE Funds Management Limited today issued a letter to shareholders of Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) (the “Company” or “Hollysys”) with additional information regarding the Consortium’s proposed acquisition of the Company and the consent solicitation. The Consortium strongly believes that the proposed acquisition is the best and only option to shareholders to achieve immediate liquidity on their investment, at a highly attractive premium and with far greater certainty. The Consortium reminds shareholders of the Company as of June 24, 2021 to sign, date and return the WHITE consent card as soon as possible before July 22, 2021.
The full text of the Consortium’s letter is as follows:
Dear Fellow Shareholders,
We, the buyer consortium (the “Consortium” or “we”) consisting of Mr. Shao Baiqing (“Mr. Shao”), Ace Lead Profits Limited (“Ace Lead”), and CPE Funds Management Limited (“CPE”) would like to remind you to please submit your consent to our resolutions concerning the proposed acquisition (the “Proposed Acquisition”) of all outstanding ordinary shares of the Company not already owned by the Consortium at a price of $17.10 per share in cash, by following the instructions on the WHITE consent card.
If you hold shares through a bank or broker (i.e., in “street-name” or as a “beneficial owner”) and have not yet received the Consortium’s consent materials by mail or email, please contact your bank or broker as soon as possible and request instructions regarding the WHITE consent card. If you are a record holder (i.e., you hold shares in your own name on the register of members of the Company), please promptly contact Innisfree M&A Incorporated (“Innisfree”), the firm assisting the Consortium with the consent solicitation, at the telephone number or email address below to request a copy of the WHITE consent card.
Additionally, in case it is helpful, we would like to share with all shareholders the information we have provided in response to certain limited inquiries we have received:
Shareholders with questions about how to submit consents and related matters should promptly contact Innisfree by email at HOLIconsent@innisfreema.com or by phone at +1 (877) 750-9501 (toll-free from the U.S. and Canada), or at +1 (412) 232-3651 (from other locations), during the hours of 10:00 a.m-7:00 p.m. Eastern Time, Monday-Friday, and 10:00 a.m.-2:00 p.m. Eastern Time on Saturdays. We ask you to please return your signed WHITE consent card to us as soon as possible before July 22, 2021.
Thank you for your support and prompt action!