BEIJING, Sept. 25, 2017 /PRNewswire/ -- Zhaopin Limited
(NYSE: ZPIN) ("Zhaopin" or the "Company"), a leading career
platform[1] in China
focused on connecting users with relevant job opportunities through
their career lifecycle, today announced that, at an extraordinary
general meeting of shareholders held today, the Company's
shareholders voted in favor of, among other things, the proposal to
authorize and approve the previously announced agreement and plan
of merger (the "Merger Agreement") dated April 6, 2017, among the Company, SEEK
International Investments Pty Ltd. ("Parent") and Zebra Mergerco,
Ltd. ("Merger Company"), pursuant to which Merger Company will be
merged with and into the Company with the Company continuing as the
surviving company (the "Merger"), the plan of merger required to be
filed with the Registrar of Companies of the Cayman Islands (the "Plan of Merger") and the
transactions contemplated by the Merger Agreement and the Plan of
Merger, including the Merger.
Approximately 94.0% voting rights of the Company entitled to
vote at the extraordinary general meeting were voted in person or
by proxy at today's extraordinary general meeting. Of those voting
rights, approximately 98.0% were voted in favor of the proposal to
authorize and approve the Merger Agreement, the Plan of Merger and
any and all transactions contemplated by the Merger Agreement,
including the Merger. A two-thirds majority of the voting power
represented by the ordinary shares of the Company present and
voting in person or by proxy at the extraordinary general meeting
was required for approving the Merger.
The parties currently expect to complete the Merger as soon as
practicable, subject to the satisfaction or waiver of the
conditions set forth in the Merger Agreement. If and when
completed, the Merger will result in the Company becoming a
privately-held company and its ADSs will no longer be listed on the
New York Stock Exchange. In addition, the ADSs and the Company's
Class A ordinary shares represented by the ADSs will cease to be
registered under Section 12 of the Securities Exchange Act of
1934.
About Zhaopin Limited
Zhaopin is a leading career platform in China, focusing on connecting users with
relevant job opportunities throughout their career lifecycle. The
Company's zhaopin.com website is the most popular career platform
in China as measured by average
daily unique visitors in each of the 12 months ended June 30, 2017, number of registered users as of
June 30, 2017 and number of unique
customers[2] for the three months ended June 30, 2017. The Company's over 140.0 million
registered users include diverse and educated job seekers who are
at various stages of their careers and are in demand by employers
as a result of the general shortage of skilled and educated workers
in China. In the fiscal year ended
June 30, 2017, approximately 49.3
million job postings[3] were placed on Zhaopin's
platform by 613,083 unique customers including multinational
corporations, small and medium-sized enterprises and state-owned
entities. The quality and quantity of Zhaopin's users and the
resumes in the Company's database attract an increasing number of
customers. This in turn leads to more users turning to Zhaopin as
their primary recruitment and career- related services provider,
creating strong network effects and significant entry barriers for
potential competitors. For more information, please visit
http://www.zhaopin.com.
Safe Harbor Statements
This news release may include certain statements that are not
descriptions of historical facts, but are forward-looking
statements. These forward-looking statements can be identified by
terminology such as "if," "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates" and similar
statements. Forward-looking statements involve risks, uncertainties
and other factors that could cause actual results to differ
materially from those contained in any such statements. Potential
risks and uncertainties include, but are not limited to,
uncertainties as to the expected timing of the completion of the
Merger; the parties' ability to complete the Merger considering the
various closing conditions, including any conditions related to
regulatory approvals; the possibility that various closing
conditions to the Merger may not be satisfied or waived and other
risks and uncertainties discussed in the Company's filings with the
U.S. Securities and Exchange Commission, as well as the Schedule
13E-3 transaction statement and the proxy statement filed by the
Company in connection with the Merger. The Company does not
undertake any obligation to update any forward-looking statement,
except as required under applicable law.
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[1]
Zhaopin's website is the most popular career platform in China as
measured by average daily unique visitors in each of the 12 months
ended June 30, 2017, the number of registered users as of June 30,
2017 and the number of unique customers for the three months ended
June 30, 2017.
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[2] A
"unique customer" refers to a customer that purchases the Company's
online recruitment services during a specified period. Zhaopin
makes adjustments for multiple purchases by the same customer to
avoid double counting. Each customer is assigned a unique
identification number in the Company's information management
system. Affiliates and branches of a given customer may, under
certain circumstances, be counted as separate unique
customers.
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[3]
Zhaopin calculates the number of job postings by counting the
number of newly placed job postings during each respective period.
Job postings that were placed prior to a specified period - even if
available during such period - are not counted as job postings for
such period. Any particular job posting placed on the Company's
website may include more than one job opening or
position.
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For more information, please contact:
Zhaopin Limited
Ms. Daisy Wang
Investor Relations
(86-10) 5863 5888 ext. 68346
ir@zhaopin.com.cn
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SOURCE Zhaopin Limited
