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News Breaks | | | | September 28, 2012 | | 08:34 EDT |  | PSOF | Pansoft holders approve going private transaction
Pansoft announced that the company has completed extraordinary meeting of stockholders for the fiscal year ended June 30 on Wednesday, September 26 at 9:15 a.m. Eastern Daylight Time, by web conference. Shareholders voted in favor to adopt the agreement and plan of merger, dated as of May 16, by and among Pansoft Company Limited, Timesway Group Limited and Genius Choice Capital Limited as it may be amended from time to time, and approve the transactions contemplated by the Merger Agreement, including the Merger. Therefore, the Special Committee and Board of Directors of Pansoft have declared the agreement of merger is adopted, which results in the Company becoming a privately held company. Once the modification of its business registration at British Virgin Islands is completed, its shares will no longer be listed on the NASDAQ Capital Market. Public shareholders of Pansoft will receive cash payments of $4.15 per share in return for their shares. | |
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