IMAX Corporation Responds To Results Of Shareholder Vote On IMAX China Privatization Transaction; Despite 70% Of Shareholders Voting "For", Proposed Transaction Does Not Meet The Necessary Threshold For Approval
IMAX Corporation Responds To Results Of Shareholder Vote On IMAX China Privatization Transaction; Despite 70% Of Shareholders Voting "For", Proposed Transaction Does Not Meet The Necessary Threshold For Approval
"Even though our proposal received the vast majority of votes cast, and support from both leading independent proxy advisory firms, the vote did not achieve the threshold needed for approval," said Rich Gelfond, CEO of IMAX. "While disappointing, the vote demonstrates that shareholders believe, as we do, that the future of IMAX China is bright. We are committed to our business in China and our team will continue to create new growth opportunities for the IMAX(R) brand and technology in this vital market for blockbuster entertainment. Furthermore, we will explore opportunities to deploy the incremental capital intended for this transaction through alternate means of creating shareholder value, such as share repurchases of IMAX Corporation stock."Despite 70% of Shareholders Voting "FOR", Proposed Transaction Does Not Meet the Necessary Threshold for Approval
儘管70%的股東投了讚成票，擬議中的交易仍未達到批准的必要門檻
NEW YORK, Oct. 10, 2023 /PRNewswire/ -- IMAX Corporation (NYSE:IMAX) today confirmed that the Company's proposal to acquire IMAX China's outstanding 96.3 million shares will not proceed following a vote by IMAX China shareholders.
亞洲網紐約2023年10月10日電IMAX公司(紐約證券交易所代碼：IMAX)今天證實，在IMAX中國股東投票表決後，公司收購IMAX中國已發行的9630萬股票的提議將被擱置。
At the Extraordinary General Meeting (EGM) of IMAX China shareholders held October 9 EST/October 10 HKT, 70% of the shares voted were in favor of the proposed transaction; however, votes against exceeded the 10% threshold required by Hong Kong law to defeat a privatization transaction. In total, approximately 61% of the total disinterested shares of IMAX China common stock were voted.
在香港東部時間10月9日/香港時間10月10日舉行的IMAX中國股東特別大會上，70%的股份投票贊成擬議的交易，但反對票超過了香港法律規定的10%的門檻，以阻止私有化交易。總計，約61%的IMAX中國普通股的無利害關係股份獲得了投票。
"Even though our proposal received the vast majority of votes cast, and support from both leading independent proxy advisory firms, the vote did not achieve the threshold needed for approval," said Rich Gelfond, CEO of IMAX. "While disappointing, the vote demonstrates that shareholders believe, as we do, that the future of IMAX China is bright. We are committed to our business in China and our team will continue to create new growth opportunities for the IMAX(R) brand and technology in this vital market for blockbuster entertainment. Furthermore, we will explore opportunities to deploy the incremental capital intended for this transaction through alternate means of creating shareholder value, such as share repurchases of IMAX Corporation stock."
IMAX首席執行官裡奇·蓋爾方德表示：“儘管我們的提案獲得了絕大多數選票，並得到了兩家領先的獨立代理諮詢公司的支持，但投票並未達到批准所需的門檻。”雖然投票結果令人失望，但投票結果表明，股東們和我們一樣相信，中國的未來是光明的。我們致力於中國的業務，我們的團隊將繼續在這個重要的大片娛樂市場為IMAX(註冊商標)品牌和技術創造新的增長機會。此外，我們將探索通過其他創造股東價值的方式來配置用於此次交易的增量資本的機會，例如回購IMAX公司的股票。“
IMAX China (HKSE: 1970.HK) is a Hong Kong-listed subsidiary established by IMAX Corporation to oversee its business in Greater China.
IMAX中國(香港聯交所代號：1970.HK)是IMAX Corporation在香港上市的附屬公司，負責監管其在大區中國的業務。
