YY Inc. Announces 2016 Annual General Meeting Results
November 28 2016 - 6:00AM
YY Inc. (NASDAQ:YY) (“
YY” or the
“
Company”), a live streaming platform, today
announced the results of its 2016 annual general meeting of
shareholders held in Hong Kong on November 28, 2016.
At the meeting, the shareholders of YY approved
the following resolutions:
RESOLVED, as a special resolution:
that the Company’s existing Article 10(d)(iii) of the articles
of association of the Company be deleted in its entirety and
replaced in substitution therefor with the following:
”Upon any sale, transfer, assignment or disposition of Class B
Common Shares by a holder thereof to any person or entity which is
not an Affiliate of such holder, such Class B Common Shares shall
be automatically and immediately converted into an equal number of
Class A Common Shares; provided that, except as set forth in
Article 10(d)(iv) below, a change in the beneficial ownership of
Class B Common Shares from a holder of Class B Common Shares to an
Affiliate of such holder shall not cause a conversion under this
Article 10(d)(iii). In addition, if at any time more than fifty
percent (50%) of the ultimate beneficial ownership of any holder of
Class B Common Shares (other than the Founders or the Founders’
Affiliates) changes, each such Class B Common Share shall be
automatically and immediately converted into one Class A Common
Share. For the avoidance of doubt, (a) the transfer, assignment or
disposition of Class B Common Shares by a holder thereof to any of
the following shall be exempt from, and not trigger, the automatic
conversion contemplated under this Article 10(d)(iii): (i) a
Founder or a Founder’s Affiliate or (ii) to a limited partner or a
shareholder of such holder; and (b) the creation of any pledge,
charge, encumbrance or other third party right of whatever
description on any Class B Common Shares to secure a holder’s
contractual or legal obligations shall not be deemed as a sale,
transfer, assignment or disposition unless and until any such
pledge, charge, encumbrance or other third party right is enforced
and results in the third party holding legal title to the related
Class B Common Shares, in which case all the related Class B Common
Shares shall be automatically converted into the same number of
Class A Common Shares.”
that any director or officer of the Company be and is hereby
authorized to take any and every action that might be necessary,
appropriate or desirable to give effect to the foregoing resolution
as such director or officer, in his absolute discretion, thinks
fit, including but not limited to, attendance on any filing or
registration procedures for and on behalf of the Company in the
Cayman Islands.
About YY Inc.
YY Inc. (“YY” or the “Company”) is a live
streaming platform that enables users to interact in live online
group activities through voice, text and video. Launched in July
2008, YY Client, the Company’s core product, empowers users to
create and organize groups of varying sizes to discover and
participate in a wide range of activities, including online music
and entertainment, online games, online dating, live game
broadcasting and education. YY Inc. was listed on NASDAQ in
November 2012 and generated revenues of US$910 million in the
fiscal year 2015.
CONTACT: For further information, please contact:
YY Inc.
Yuffie Fu
Tel: +86 (20) 8212-0000
Email: IR@YY.com
ICR, Inc.
Jessie Fan
Tel: +1 (646) 915-1611
Email: IR@YY.com
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