KongZhong Corporation (ADR) (NASDAQ:KZ), one of the top-notch game developers in the People’s Republic of China has lately been making news over its progressive moves which are of course steps towards accelerating the company to the highest levels of business success. Today’s meeting must come as great news to a lot of investors as well as those persons concerned about the company’s operations.
This is after it used the meeting to make clear its intention to form a merger dated as of December 1, 2016.The new decision got the shareholders involved since they all participated under a common vote with the largest number voting in favor of the merger.
The involvement of shareholders in decision making in companies is a move that most of the high end and successful companies have been embracing over the years and it has assisted streamline operations as well as propel companies to higher levels in terms of economic well-being.
It was a prerequisite requirement that the merger plan be filed with the Registrar of Companies of the Cayman Islands which as a matter of fact happened as planned. Among the company names mentioned in the merger agreement included Wiseman International Limited and Linkedsee Limited.
Companies Law of the Cayman Islands and special resolutions needed to be adhered to by all means towards hitting the merger agreement and that was done in the best fashion ever. The waiver of the conditions set forth in the Merger Agreement is something that the merger’s completion will greatly be subject to.
The successful game developer looks forward to indulging with some other parties to the merger agreement to satisfy the wide range of conditions precedent to the Merger set forward in the Merger Agreement and one thing that is for sure is the fact that expectations remain high that the whole merger process will be completed in the shortest time possible.
The completion of the process will transform the company into becoming privately held company wholly owned by parent company. It is also important to point out to the fact that the American depositary shares, each one serving as a representation of the forty ordinary shares of the provider, will cease to be listed on the NASDAQ Global Select Market.
