Ninetowns Internet Technology Group Company Ltd. (NASDAQ: NINE) has announced the completion of the merger among the company, Ninetowns Holdings Ltd. (parent) and Ninetowns Merger Sub Ltd. (merger sub).
As a result of the merger, the company became a wholly owned subsidiary of Ninetowns Holding.
Registered shareholders entitled to the merger consideration will receive a letter of transmittal and instructions on how to surrender their share certificates in exchange for the merger consideration and should wait to receive the letter of transmittal before surrendering their share certificates. Payment of the merger consideration will be made to surrendering ADS holders and holders of ADSs in uncertificated form as soon as practicable after the Depositary receives the merger consideration.
The company also announced TODAY that it requested that trading of its ADSs on the NASDAQ Global Market (the “NASDAQ) be suspended beginning on May 30, 2014. The company requested that the NASDAQ file a Form 25 with the Securities and Exchange Commission notifying the SEC of the delisting of the company´s ADSs on the NASDAQ and the deregistration of the company´s registered securities. The company intends to terminate its reporting obligations under the Securities Exchange Act of 1934, as amended, by filing a Form 15 with the SEC in ten days. The company´s obligation to furnish to or file with the SEC certain reports and forms, including Form 20-F and Form 6-K, will be suspended immediately as of the filing date of the Form 15 and will cease once the deregistration becomes effective.
Ninetowns is a provider of online solutions for international trade, with its key services in automating import/export e-filing. More information can be found at ir.ninetowns.com.