GUANGZHOU, China, June 26, 2013 /PRNewswire/ -- 7 Days
Group Holdings Limited (NYSE: SVN; "7 Days Group" or the
"Company"), a leading economy hotel chain based in China, announced today that, at an
extraordinary general meeting held today, the Company's
shareholders voted in favor of the proposal to approve the
previously announced agreement and plan of merger dated
February 28, 2013 (the "Merger
Agreement"), by and among the Company, Keystone Lodging Company
Limited ("Parent"), Keystone Lodging Acquisition Limited ("Merger
Sub") and Keystone Lodging Holdings Limited ("Holdco"), pursuant to
which Merger Sub will merge with and into the Company with the
Company surviving the merger as a wholly owned subsidiary of Parent
(the "Merger"). Approximately 88.3% of the Company's ordinary
shares entitled to vote at the extraordinary general meeting were
voted in person or by proxy with respect to the proposal to approve
and authorize the Merger Agreement and the Cayman Islands plan of merger and the
transactions contemplated by the Merger Agreement, including the
Merger, of which approximately 86.0% voted in favor of such
proposal.
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 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 would result
in the Company becoming a privately held company and its American
depositary shares, each representing three ordinary shares of the
Company, would no longer be listed on the New York Stock
Exchange.
About 7 Days Group
7 Days Group is a leading and fast growing national economy
hotel chain based in China. It
converts and operates limited service economy hotels across major
metropolitan areas in China under
its award-winning "7 Days Inn" brand. The Company strives to offer
consistent and high-quality accommodations and services primarily
to the growing population of value-conscious business and leisure
travelers who demand affordable, clean, comfortable, convenient and
safe lodging, and to respond to its guests' needs.
Cautionary Note About Forward-looking Statements
This document may include certain statements that are not
descriptions of historical facts, but are forward-looking
statements. Forward-looking statements can generally be identified
by the use of forward-looking terminology such as "will," "should,"
"may," "believes," "expects" or similar expressions. Such
information is based upon expectations of the Company's management
that were reasonable when made but may prove to be incorrect. All
of such assumptions are inherently subject to uncertainties and
contingencies beyond the Company's control and based upon premises
with respect to future business decisions, which are subject to
change. The Company does not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
For further information, please contact:
Investor Contact:
Vivian Chen, Investor Relations
Director
7 Days Group Holdings Limited
+86-20-8922-5858
IR@7daysinn.cn
Investor Relations (US):
Mahmoud Siddig, Managing
Director
Taylor Rafferty
+1 (212) 889-4350
7DaysInn@taylor-rafferty.com
Investor Relations (HK):
Candy Cheung, Senior
Consultant
Taylor Rafferty
+852 3196 3712
7DaysInn@taylor-rafferty.com
SOURCE 7 Days Group Holdings Limited