Thursday, March 17, 2016

Mecox Lane announced shareholders’ meeting to discuss merger with BVI company

Chinese retailer Mecox Lane Limited announced an extraordinary general meeting of shareholders which will take place on April 12, 2016. The main purpose of the shareholders’ meeting is to vote on the proposal to approve the agreement and plan of merger with the British Virgin Islands-incorporated business company Minat Associated Co., Ltd., and Cayman Islands-incorporated exempted company ChinaEquity Alliance Victory Co., Ltd., wholly owned by the BVI company.

The agreement and the plan of merger were previously announced in the end of 2015. Under the terms of the Merger Agreement, ChinaEquity is to be merged with and into the Chinese company, which will become a wholly owned subsidiary of the BVI company. As a result, Mecox Lane will become a privately-held company and its ADSs will be delisted from the NASDAQ Global Select Market.