- PR Newswire•9 months ago
BEIJING, Dec. 18, 2015 /PRNewswire/ -- Vimicro International Corporation (VIMC) ("Vimicro" or the "Company"), a leading video surveillance technology and solution provider in China, announced today the completion of the merger (the "merger") with Vimicro China Acquisition Limited ("Merger Sub"), a wholly-owned subsidiary of Vimicro China (Parent) Limited ("Parent"), pursuant to the Agreement and Plan of Merger dated September 15, 2015 (as amended on November 3, 2015, the "Merger Agreement"), by and among Parent, Merger Sub and the Company. Under the terms of the Merger Agreement, each of the Company's ordinary shares, par value US$0.0001 per share (the "Shares"), issued and outstanding immediately prior to the effective time of the merger has been cancelled in exchange for the right to receive US$3.375 in cash without interest, and each of the Company's American depositary shares, each representing four Shares (the "ADSs") issued and outstanding immediately prior to the effective time of the merger has been cancelled in exchange for the right to receive US$13.50 in cash without interest (less US$0.05 per ADS cancellation fee), other than (i) Shares (including Shares represented by ADSs) owned by Parent, Merger Sub or the Company (as treasury shares, if any), or by any direct or indirect wholly-owned subsidiary of Parent, Merger Sub or the Company, in each case immediately prior to the effective time of the merger, (ii) Shares (including Shares represented by ADSs) reserved (but not yet allocated) by the Company for settlement upon exercise of any options to purchase Shares outstanding under the Company's 2004 Share Option Plan or 2005 Share Incentive Plan (including any amendment and modification thereto) (the "Company Options"), (iii) the Shares and ADSs beneficially owned (as determined pursuant to Rule 13d-3 under the Securities Exchange Act of 1934, as amended) by any of Dr. Zhonghan (John) Deng, Vimicro Beijing Corporation, Mr. Zhaowei (Kevin) Jin, Vimicro Shenzhen Corporation, Dr. Xiaodong (Dave) Yang, Vimicro Tianjin Corporation and Alpha Spring Limited, but excluding (a) 2,356,434 Shares and 108,325 ADSs beneficially owned by Dr. Xiaodong (Dave) Yang, (b) 4,453,192 Shares and 15,000 ADSs beneficially owned by Dr. Zhonghan (John) Deng, and (c) 1,391,851 Shares and 100,000 ADSs beneficially owned by Mr. Zhaowei (Kevin) Jin, and/or (iv) any Shares that are issued and outstanding immediately prior to the effective time of the merger and are held by a holder of Shares who has validly exercised and not lost its rights to dissent from the merger pursuant to Section 238 of the Cayman Companies Law (the Shares described under (i) through (iv) above are collectively referred to herein as the "Excluded Shares").
- Accesswire•9 months agoTechnology Sector Equities Coverage -- JA Solar Holdings, NeoPhotonics, Exar Corp., and Vimicro Intl.
NEW YORK, NY / ACCESSWIRE / December 16, 2015 / Park Lane Advisor has initiated coverage on the following equities: JA Solar Holdings Company Ltd (NASDAQ: JASO), NeoPhotonics Corporation (NYSE: NPTN), ...
- PR Newswire•10 months ago
BEIJING, Dec. 15, 2015 /PRNewswire/ -- Vimicro International Corporation (NASDAQ: VIMC) ("Vimicro" or the "Company"), a leading video surveillance technology and solution provider in ...
Vimicro International Corporati (VIMC)
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