Dada Nexus shareholders approve merger with JD Sunflower

Dada Nexus (DADA) announced that at an extraordinary general meeting of shareholders , the company’s shareholders voted in favor of the Agreement and Plan of Merger dated April 1 by and between the company, JD Sunflower Investment – Parent – and JD Sunflower Merger Sub, a wholly owned subsidiary of Parent, pursuant to which Merger Sub will merge with and into the company and cease to exist, with the company continuing as the surviving company and becoming a wholly owned subsidiary of Parent. Approximately 73.4% of the company’s total outstanding ordinary shareson the share record date of May 22 voted. The Merger Agreement, the Plan of Merger and the transactions contemplated thereby, including the merger, were approved by approximately 92.1% of the total votes cast at the EGM. 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.