Country Style Cooking Announces Shareholder Approval of Merger Agreement
Country Style Cooking Restaurant Chain Co Ltd, a quick service restaurant chain in China, announced at an extraordinary general meeting today, the Company's proposal to authorise and approve the previously announced agreement and plan of a merger dated December 17, 2015 (the ‘Merger Agreement’).
The merger concerns Country Style Cooking Restaurant Chain Holding Limited (‘Parent’) and Country Style Cooking Restaurant Chain Merger Company Limited (‘Merger Sub’). Approximately 98.09% of the ordinary shares voted in person or by proxy at today's meeting were voted in favour of the proposal to authorize and approve the Merger Agreement, the Plan of Merger and the transactions contemplated thereby, including the Merger.
Completion of the Merger is subject to the satisfaction or waiver of the conditions set forth in the Merger Agreement. The Company will work with various other parties to the Merger Agreement to satisfy all other conditions precedent to the Merger set forth in the Merger Agreement and complete the Merger as quickly as possible. If and when completed, the Merger will result in the Company becoming a privately held company and its American depositary shares, each representing four ordinary shares of the Company, will no longer be listed on the New York Stock Exchange.