Alibaba.com Shareholders Approve Privatization Proposal
Release Date: 25 May 2012
Alibaba Group Holding Limited ("Alibaba Group") and Alibaba.com Limited (HKSE: 1688; 1688.HK "Alibaba.com") jointly announced that the proposal for the privatization of Alibaba.com by way of a scheme of arrangement ("Scheme") has been approved by a sufficient majority of the independent shareholders of Alibaba.com at the Court Meeting today. Approximately 95 percent of the shares held by independent shareholders voting in person or by proxy were voted in favor of the privatization and a majority of the shareholders voting in person or by proxy on a headcount basis also voted in favor of the privatization. Subject to the Scheme becoming effective, Alibaba.com's scheme shareholders will receive a cancellation price of HK$13.50 per share in cash. Available material includes video and stills from the meeting.