May 29, 2020

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Notable News Spotlight: eHi Car Services Limited (NYSE:EHIC)

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eHi Car Services Limited (NYSE:EHIC) performed 0.94% to trade value at $11.81 in recent trading session and its total traded volume was 380586 shares versus to an average volume of 432.6K. The company has market cap of $824.1 million. The stock has monthly performance of -3.12% while its yearly performance remained at -9.85%.

eHi Car Services Limited (NYSE:EHIC) reported that at an extraordinary general meeting of shareholders held today, the Company’s shareholders voted in favor of, among other things, the proposal to authorize and approve the previously announced agreement and plan of merger (the “Merger Agreement”), dated February 18, 2019, among the Company, Teamsport Parent Limited (“Parent”) and Teamsport Bidco Limited (“Merger Sub”), pursuant to which Merger Sub will be merged with and into the Company with the Company continuing as the surviving company (the “Merger”), the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands in connection with the Merger (the “Plan of Merger”) and the transactions contemplated by the Merger Agreement and the Plan of Merger, including the Merger.

Approximately 75.60% of the Company’s total outstanding ordinary shares, representing approximately 94.42% voting rights of the Company entitled to vote at the extraordinary general meeting, voted in person or by proxy at today’s extraordinary general meeting. Of those voting rights, approximately 98.98% were voted in favor of the proposal to authorize and approve the Merger Agreement, the Plan of Merger and any and all transactions contemplated by the Merger Agreement, including the Merger. This represents approximately 93.46% of the total voting power of the Company’s shares that are issued and outstanding, and approximately 55.45% of the total number of the Company’s Class A common shares, par value US$0.001 per share (each, a “Class A Share”), that are issued and outstanding, that were voted at today’s extraordinary general meeting in favor of the proposal to authorize and approve the Merger Agreement and the transactions contemplated by the Merger Agreement, including the Merger.

The parties currently expect to complete the Merger within the month, subject to the satisfaction or waiver of the conditions set forth in the Merger Agreement. If and when completed, the Merger will result in the Company becoming a privately-held company and the American depositary shares of the Company (each representing two Class A Shares) (“ADSs”) will no longer be listed on the New York Stock Exchange. In addition, the ADSs and the Class A Shares represented by the ADSs will cease to be registered under Section 12 of the Securities Exchange Act of 1934.

The stock demonstrated move of 0.43% in previous 5 days graph. Its quarterly performance stands with the percentage of 14.77% while its year to date performance showed change of 12.48%.

The Company has an insider ownership of 25.84% and institutional ownership remained 44.10%. Its return on investment (ROI) for the last 12 month was 3.90%.

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