IFM Investments announces settlement of shareholder petition

theflyonthewall.com

IFM Investments announced that, following amicable negotiations, the company and the company's founders have signed an agreement with GL Asia Mauritius II Cayman to settle certain legal proceedings, including the petition to request an order to wind up the company and other remedies filed by GLA on December 30, 2011, in the Grand Court of the Cayman Islands. Under the terms of this agreement, GLA has agreed to withdraw all outstanding proceedings against the company upon the consummation of the transactions contemplated under the agreement. In addition, this agreement does not change the respective shareholding in the company of the company's founders and GLA. As of April 18, the latest practicable date, the company's founders are the largest beneficial owners of the company with approximately 40.5% of the company's shares.

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