SHANGHAI, April 19, 2012 /PRNewswire-Asia-FirstCall/ --
China Real Estate Information Corporation ("CRIC" or the "Company")
(NASDAQ: CRIC), a leading provider of real estate information,
consulting and online services in China, today announced that, at the
extraordinary general meeting of the Company's shareholders (the
"EGM") held earlier today, shareholders voted in favor of approving
and adopting the previously announced Agreement and Plan of Merger,
dated December 28, 2011 (the "Merger
Agreement"), among the Company, E-House (China) Holdings Limited ("E-House") (NYSE:
EJ), an exempted company with limited liability incorporated under
the laws of the Cayman Islands,
and CRIC (China) Holdings Limited
("Merger Sub"), an exempted company with limited liability
incorporated under the laws of the Cayman
Islands and a wholly owned subsidiary of E-House.
Shareholders holding approximately 95.23% of the Company's total
outstanding ordinary shares voted in person or by proxy at the EGM.
Based on the final tabulation, CRIC's shareholders voted
overwhelmingly in favor of the merger with (i) approximately 99.95%
of the ordinary shares present in person or by proxy at the EGM and
(ii) approximately 89.53% of the Company's total outstanding
ordinary shares other than those held directly or indirectly by
E-House, held in the Company's treasury or issued to the Company's
depositary and reserved for future share incentive grants, voting
in favor of the proposal to approve and adopt the Merger Agreement
and the transactions contemplated thereby.
Completion of the merger is subject to the satisfaction or
waiver of the conditions set forth in the Merger Agreement. The
Company will work with E-House to satisfy all other conditions
precedent to the merger set forth in the Merger Agreement and
complete the merger as quickly as possible. When completed, the
merger will result in CRIC becoming a private company and a wholly
owned subsidiary of E-House. In addition, CRIC's American
depositary shares ("ADSs"), each representing one CRIC ordinary
share, would cease to be listed on the Nasdaq Global Select
Market.
About CRIC
China Real Estate Information Corporation ("CRIC") (NASDAQ:
CRIC) is a leading provider of real estate information, consulting
and online services with a presence in over 180 cities across
China. CRIC, a subsidiary of
E-House (China) Holdings Limited
(NYSE: EJ), merged with the online real estate business of SINA
Corporation (NASDAQ: SINA) upon the completion of CRIC's initial
public offering and listing of its ADSs on the NASDAQ Global Select
Market in October 2009. Leveraging its proprietary, advanced
and comprehensive real estate information database and analysis
system, CRIC provides a broad range of real estate-related services
to all participants in the real estate value chain, including
developers, suppliers, agents, brokers, service providers and
individual consumers. CRIC's services include subscription-based
information services, customized consulting services and online
services through several real estate websites that provide
region-specific real estate information and access to online
communities. For more information about CRIC, please visit
http://www.cric.com.
For investor and media inquiries please contact:
In China:
Michelle Yuan
Director, Investor Relations
China Real Estate Information Corporation
Phone: +86 (21) 6086-7369
E-mail: michelleyuan@cric.com
Derek Mitchell
Ogilvy Financial, Beijing
Phone: +86 (10) 8520-6284
E-mail: cric@ogilvy.com
In the U.S.:
Jessica Barist Cohen
Ogilvy Financial, New York
Phone: +1 (646) 460-9989
E-mail: cric@ogilvy.com
SOURCE China Real Estate Information Corporation