BEIJING, March 15, 2022 /PRNewswire/ -- Ucommune
International Ltd. (NASDAQ: UK)
("Ucommune" or the "Company"), a leading agile office space manager
and provider in China, today
announced an extraordinary general meeting of the Company (the
"Meeting") will be held at 10 A.M. on
April 21, 2022, Beijing time (10
P.M. on April 20, 2022, U.S.
Eastern time) at Floor 8, No.2 Guanghua Road, Chaoyang District,
Beijing, China. The purpose of the
meeting is to effect a share consolidation of 20 ordinary shares
with a par value of US$0.0001 each in
the Company's issued and unissued share capital into one ordinary
share with a par value of US$0.002
(the "Share Consolidation"). The Company has established the close
of business on March 29, 2022, Eastern
time (the "Record Date"), as the record date for determining
shareholders entitled to notice of, and to vote at, the Meeting and
any adjournments or postponements thereof.
Subject to the approval of Share Consolidation at the Meeting,
the Share Consolidation will be effective at 5 P.M. on April 21,
2022, U.S. Eastern time, and the Class A ordinary shares are
expected to begin trading on a post-Share Consolidation basis on
the Nasdaq Capital Market when markets open on the next business
trading day under the new CUSIP/ISIN numbers. No fractional shares
will be issued in connection with the Share Consolidation. All
fractional shares will be rounded up to the whole number of shares.
Subject to the approval of the shareholders at the Meeting,
immediately following the Share Consolidation, the authorized share
capital of the Company is US$50,000.00 divided into 25,000,000 ordinary
shares of par value of US$0.002 each,
comprising (a) 20,000,000 Class A ordinary shares of par value of
US$0.002 each and (b) 5,000,000 Class
B ordinary shares of par value of US$0.002 each.
Copies of the notice of the Meeting and the form of proxy are
available on the Company's corporate investor relations website at
https://ir.ucommune.com.
About Ucommune International Ltd.
Ucommune is China's leading
agile office space manager and provider. Founded in 2015, Ucommune
has created a large-scale intelligent agile office ecosystem
covering economically vibrant regions throughout China to
empower its members with flexible and cost-efficient office space
solutions. Ucommune's various offline agile office space services
include self-operated models, such as U Space, U Studio, and U
Design, as well as asset-light models, such as U Brand and U
Partner. By utilizing its expertise in the real estate and retail
industries, Ucommune operates its agile office spaces with high
efficiency and engages in the urban transformation of older and
under-utilized buildings to redefine commercial real estate
in China.
Safe Harbor Statements
This press release contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended. These forward-looking statements are made under the
"safe harbor" provisions of the U.S. Private Securities Litigation
Reform Act of 1995. These statements can be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates," "potential,"
"continue," "ongoing," "targets," "guidance" and similar
statements. The Company may also make written or oral
forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission (the "SEC"), in its annual
report to shareholders, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. Any statements that are not historical
facts, including statements about the Company's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: the Company's growth strategies; its
future business development, results of operations and financial
condition; its ability to understand members' needs and provide
products and services to attract and retain members; its ability to
maintain and enhance the recognition and reputation of its brand;
its ability to maintain and improve quality control policies and
measures; its ability to establish and maintain relationships with
members and business partners; trends and competition
in China's agile office space market; changes in its
revenues and certain cost or expense items; the expected growth
of China's agile office space market; PRC governmental
policies and regulations relating to the Company's business and
industry, and general economic and business conditions
in China and globally and assumptions underlying or
related to any of the foregoing. Further information regarding
these and other risks, uncertainties or factors is included in the
Company's filings with the SEC. All information provided in this
press release and in the attachments is as of the date of this
press release, and the Company undertakes no obligation to update
any forward-looking statement, except as required under applicable
law.
For investor and media inquiries, please contact:
Ucommune International Ltd.
ir@ucommune.com
ICR, LLC.
Robin Yang
ucommune@icrinc.com
+1 (212) 537-3847
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SOURCE Ucommune International Ltd.
