HI SUN TECH (00818.HK): Cloopen shareholders approve merger agreement, possible disposal remains subject to conditions
- The extraordinary general meeting documents disclosed that each of the parent company, the holding company and the merger subsidiary was formed solely for the merger and the investment and financing transactions related thereto.
- Upon the effective time of the merger, the parent company will be beneficially owned by Trustbridge Partners VII, L.P., TB Partners GP7 Limited, Retail Technology Asia Limited and Cloopen Co, Ltd.
NewTimeSpace News: On 25 September 2026, Hi Sun Technology (China) Limited (stock code: 00818) announced that Cloopen announced on 24 September 2026 (US time) that the merger agreement and the transactions contemplated thereunder, including the merger, were approved by approximately 99.98% of the total votes cast at the extraordinary general meeting of Cloopen's shareholders. Cloopen further announced that it will work with the other parties to the merger agreement to complete the merger in accordance with the merger agreement.
The announcement referred to the Company's announcement dated 15 September 2026 in relation to the possible disposal. The Company stated that, as at the date of the announcement, the possible disposal has not been completed and is subject to the fulfilment of certain conditions, and may or may not proceed; shareholders and potential investors should therefore exercise caution when dealing in the shares of the Company.
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