Smart Share Global Shareholders Approve Merger Plan with Mobile Charging
Smart Share Global announced that at an extraordinary general meeting of shareholders, the Company's shareholders voted in favor of the proposal to authorize and approve the previously announced Agreement and Plan of Merger, dated August 1, by and among the Company, Mobile Charging Group Holdings, Mobile Charging Investment, a wholly-owned subsidiary of Parent and Mobile Charging Merger, a wholly-owned subsidiary of MidCo, pursuant to which, at the effective time of the merger, Merger Sub will merge with and into the Company, with the Company continuing as the surviving company and becoming a wholly-owned subsidiary of MidCo, the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands and the transactions contemplated thereby, including the merger. Approximately 79.0% of the Company's total outstanding ordinary shares, including the ordinary shares represented by the Company's American depositary shares as of 5:00 p.m. New York City time on December 12, voted in person or by proxy at the EGM. Each shareholder has one vote for each class A ordinary share and ten votes for each class B ordinary share. These shares represented approximately 90.9% of the total outstanding votes represented by the Company's total ordinary shares outstanding on the record date. The Merger Agreement, the Plan of Merger and the transactions contemplated thereby, including the merger, were approved by approximately 92.8% of the total votes cast at the EGM. 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 the other parties to the Merger Agreement towards completing the merger in due course. If consummated, the merger will result in the Company becoming a privately held company and its ADSs will no longer be listed or traded on any securities exchange or quotation system, including the Nasdaq Capital Market, and the Company's ADS program will be terminated.
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Smart Share Global Secures 92.8% Shareholder Approval for Merger Agreement
- Shareholder Voting Outcome: At today's extraordinary general meeting, approximately 79.0% of the company's ordinary shareholders participated in the vote, with 92.8% supporting the merger agreement, reflecting strong shareholder confidence in the company's future direction.
- Merger Agreement Details: Under the merger agreement signed on August 1, 2025, the company will become a wholly-owned subsidiary of MidCo post-merger, marking a strategic shift towards becoming a private entity, which is expected to enhance operational flexibility.
- Market Impact: Upon completion of the merger, the company's American Depositary Shares will no longer be traded on Nasdaq, which may affect investor liquidity but could also allow for more focused management and resource allocation.
- Future Outlook: This merger will enable Smart Share to better integrate resources and enhance its competitiveness in China's mobile charging service market, with expectations of driving future growth potential.
Smart Share Global Secures 92.8% Shareholder Approval for Merger Agreement
- Strong Shareholder Support: At the extraordinary general meeting on December 31, 2025, approximately 79% of the company's ordinary shareholders voted in favor of the merger agreement, reflecting strong confidence in the company's future direction.
- Merger Agreement Details: The merger agreement, signed on August 1, 2025, will result in the company becoming a wholly-owned subsidiary of MidCo, marking a significant structural change that could enhance operational efficiency.
- Significant Voting Outcome: Approximately 92.8% of votes cast supported the merger, indicating high shareholder approval for the company's strategic direction, which is expected to strengthen its competitive position in the market.
- Future Outlook: Upon completion of the merger, the company's ADS will no longer be traded on Nasdaq, transitioning to a private entity, which may provide the company with a more flexible operational environment to adapt to market changes.
