SHANGHAI, May 16, 2025 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company") today announced that all resolutions presented to the shareholders at its extraordinary general meeting held on May 16, 2025 (the "Extraordinary General Meeting") were duly passed. Each was approved by no less than 99.3% of the total votes cast, and no less than 80% of the votes cast by non-affiliate shareholders of the Company were in favor of each of the resolutions.
With the passage of these resolutions, the shareholders of the Company approved the Company's entry into the definitive agreements to sell its existing business in the PRC to Ursalpha Digital Limited, a company incorporated under the laws of the British Virgin Islands, for a total consideration of approximately US$351.94 million in cash as announced by the Company on April 3, 2025. The shareholders also approved certain procedural matters and authorized directors and officers of the Company to take necessary actions to effect the resolutions made in the Extraordinary General Meeting.
The full text of each resolution was included in the notice of the Extraordinary General Meeting, which was furnished to the Securities and Exchange Commission (the "SEC") on Form 6-K on April 11, 2025. The full text of each resolution is also available on the Company's
website: ir.cangoonline.com.
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