Press Release: Phoenix New Media Announces Further Update on Proposed Sale of Investment in Yidian
Press Release: Phoenix New Media Announces Further Update on Proposed Sale of Investment in Yidian
Press Release: Phoenix New Media Announces Further Update on Proposed Sale of Investment in Yidian
新聞稿：鳳凰新媒體宣佈擬出售一店股權的進一步更新
Phoenix New Media Announces Further Update on Proposed Sale of Investment in Yidian
鳳凰新媒體宣佈擬出售一店股權的進一步更新
PR Newswire
美通社
BEIJING, Jan. 20, 2020
北京，2020年1月20日
BEIJING, Jan. 20, 2020 /PRNewswire/ -- Phoenix New Media Limited ("Phoenix New Media", "ifeng" or the "Company") (NYSE: FENG), a leading new media company in China, today announced that it has entered into an agreement (the "Co-Sale Agreement") with Long De Cheng Zhang (Tianjin) Investment Management Center and Long De Holdings (Hong Kong) Co., Limited (collectively, the "Long De Entities") to settle the dispute with respect to the Long De Entities' co-sale rights under the existing shareholders agreement of Particle Inc. ("Particle" or "Yidian") as previously announced by the Company. The co-sale rights were alleged in connection with the Company's sale of shares of Particle to Run Liang Tai and its designated entities (the "Proposed Buyers") pursuant to a share purchase agreement (the "SPA") dated March 22, 2019, as amended by a supplemental agreement (the "Supplemental Agreement") dated July 23, 2019 (the "Proposed Transaction").
北京，2020年1月20日/美通社/--中國領先的新媒體公司鳳凰新媒體有限公司(以下簡稱“鳳凰新媒體”、“峯峯”或“本公司”)(紐約證券交易所股票代碼：FENG)今天宣佈，該公司已與龍德成張(天津)投資管理中心和龍德控股(香港)有限公司(統稱“龍德控股(香港)有限公司”)簽訂了一項協議(以下簡稱“聯售協議”)。Long de Entities(“Long de Entities”)，以解決本公司先前公佈的有關Long De Entities根據Particle Inc.(“Particle”或“一電”)的現有股東協議而享有的聯售權的爭議。聯售權利被指與本公司根據日期為2019年3月22日的股份購買協議(“SPA”)(經日期為2019年7月23日的補充協議(“補充協議”)修訂)向Run樑泰及其指定實體(“建議買家”)出售Particle股份有關(“建議交易”)。
Pursuant to the Co-Sale Agreement, the Long De Entities will sell approximately 9.8 million preferred shares of Particle (the "Long De Sale Shares") to the Proposed Buyers for a total consideration of approximately US$20.7 million in cash and the number of Particle shares to be sold by the Company will be reduced accordingly. As a result, the Company is expected to sell a total of 29.19% of the total outstanding shares of Particle (which reflected the completion of the issuance of additional shares under Particle's share incentive plan) to the Proposed Buyers for a total consideration of approximately US$427.3 million in cash under the SPA as amended by the Supplemental Agreement and the Co-Sale Agreement.
根據聯售協議，龍德實體將向建議買家出售約9.8百萬股Particle優先股(“長期出售股份”)，總代價約為2,070萬美元現金，本公司將出售的Particle股份數目將相應減少。因此，本公司預期將根據經補充協議及聯售協議修訂的SPA，以現金總代價約4.273億美元向建議買家出售合共29.19%的Particle總流通股(反映Particle的股份激勵計劃下額外股份的發行完成)。
Similar to the Company's arrangement with the Proposed Buyers under the Supplemental Agreement, the Long De Entities will deliver the Long De Sale Shares to the Proposed Buyers in two batches. The Company agreed to provide an interest-free loan of approximately US$9.7 million to the Proposed Buyers to enable them to pay for the first batch of Long De Sale Shares. Closing for the second batch of Long De Sale Shares is expected to occur within 10 business days after closing for the second batch of Particle shares to be sold by the Company and repayment of the loan to the Company by the Proposed Buyers, both of which are expected to occur no later than August 2020 according to the Co-Sale Agreement.
與本公司根據補充協議與建議買家的安排類似，龍德實體將分兩批向建議買家交付Long de Sale股份。本公司同意向建議買家提供約970萬美元的免息貸款，使他們能夠支付首批Long de Sale股份。預計第二批Long de Sale股份將於本公司將出售的第二批Particle股份完成交易及建議買家向本公司償還貸款後10個營業日內完成，根據聯售協議，兩者均預計不遲於2020年8月完成。
The Co-Sale Agreement is subject to approval by the shareholders of the Company's parent company, Phoenix Media Investment (Holdings) Limited (HK: 2008), a company listed on The Stock Exchange of Hong Kong. While the Company has completed delivery of the first batch of Particle shares to the Proposed Buyers pursuant to the Supplemental Agreement and received consideration of US$200 million for such shares as well as a further deposit of US$50 million, there are still uncertainties as to the completion of the remaining part of the Proposed Transaction. There can be no assurance that the Proposed Transaction will be eventually closed.
聯售協議須經本公司母公司鳳凰傳媒投資(控股)有限公司(HK：2008)股東批准，鳳凰傳媒投資(控股)有限公司(HK：2008)為香港聯合交易所上市公司。雖然本公司已根據補充協議完成向建議買家交付首批粒子股份，並收到該等股份的代價2億美元以及額外按金50,000,000美元，但建議交易的其餘部分能否完成仍存在不確定因素。不能保證擬議中的交易最終會完成。
About Phoenix New Media Limited
關於鳳凰新媒體有限公司
Phoenix New Media Limited (NYSE: FENG) is a leading new media company providing premium content on an integrated Internet platform, including PC and mobile, in China. Having originated from a leading global Chinese language TV network based in Hong Kong, Phoenix TV, the Company enables consumers to access professional news and other quality information and share user-generated content on the Internet through their PCs and mobile devices. Phoenix New Media's platform includes its PC channel, consisting of ifeng.com website, which comprises interest-based verticals and interactive services; its mobile channel, consisting of mobile news applications, mobile video application, digital reading applications and mobile Internet website; and its operations with the telecom operators that provides mobile value-added services.
鳳凰新媒體有限公司(紐約證券交易所代碼：FENG)是中國領先的新媒體公司，在包括PC和移動在內的綜合互聯網平台上提供優質內容。該公司起源於總部設在香港的領先的全球中文電視網絡鳳凰衞視，使消費者能夠通過個人電腦和移動設備在互聯網上獲取專業新聞和其他高質量的信息，並分享用户生成的內容。鳳凰新媒體的平台包括PC頻道，由鳳凰網網站組成，包括基於興趣的垂直和互動服務；移動頻道，由移動新聞應用、移動視頻應用、數字閲讀應用和移動互聯網網站組成；以及與提供移動增值服務的電信運營商的運營。
Safe Harbor Statement
安全港聲明
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Phoenix New Media's strategic and operational plans, contain forward-looking statements. Phoenix New Media may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("SEC") on Forms 20-F and 6-K, 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. Statements that are not historical facts, including statements about Phoenix New Media'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 goals and strategies; the Company's future business development, financial condition and results of operations; the expected growth of the online and mobile advertising, online video and mobile paid service markets in China; the Company's reliance on online advertising and MVAS for the majority of its total revenues; the Company's expectations regarding demand for and market acceptance of its services; the Company's expectations regarding the retention and strengthening of its relationships with advertisers, partners and customers; fluctuations in the Company's quarterly operating results; the Company's plans to enhance its user experience, infrastructure and service offerings; the Company's reliance on mobile operators in China to provide most of its MVAS; changes by mobile operators in China to their policies for MVAS; competition in its industry in China; and relevant government policies and regulations relating to the Company. Further information regarding these and other risks is included in the Company's filings with the SEC, including its registration statement on Form F-1, as amended, and its annual report on Form 20-F. All information provided in this press release is as of the date of this press release, and Phoenix New Media does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
本公告包含前瞻性陳述。這些聲明是根據1995年美國私人證券訴訟改革法中的“安全港”條款作出的。這些前瞻性陳述可以通過諸如“將”、“預期”、“預期”、“未來”、“打算”、“計劃”、“相信”、“估計”和類似的表述來識別。其中，本公告中的業務展望和管理層引述，以及鳳凰新媒體的戰略和運營計劃，均含有前瞻性表述。鳳凰新媒體還可以在提交給美國證券交易委員會(SEC)的20-F和6-K表格的定期報告、提交給股東的年度報告、新聞稿和其他書面材料以及高級管理人員、董事或員工對第三方的口頭陳述中做出書面或口頭的前瞻性陳述。非歷史事實的陳述，包括有關鳳凰新媒體的信仰和期望的陳述，都是前瞻性陳述。前瞻性陳述涉及固有的風險和不確定性。許多因素可能導致實際結果與任何前瞻性陳述中包含的結果大不相同，這些因素包括但不限於：公司的目標和戰略；公司未來的業務發展、財務狀況和經營業績；中國在線和移動廣告、在線視頻和移動付費服務市場的預期增長；公司總收入的大部分依賴在線廣告和MVAS；公司對其服務的需求和市場接受度的預期；公司對保持和加強與廣告商關係的預期。, 本新聞稿的內容包括：本公司與合作伙伴和客户之間的關係；本公司季度經營業績的波動；本公司提升用户體驗、基礎設施和服務產品的計劃；本公司對中國移動運營商提供其大部分MVA服務的依賴；中國移動運營商對其MVAS政策的變化；中國本行業的競爭；以及與本公司相關的政府相關政策和法規。有關這些和其他風險的更多信息包括在該公司提交給證券交易委員會的文件中，包括其經修訂的F-1表格的註冊聲明和20-F表格的年度報告。本新聞稿中提供的所有信息均為截至本新聞稿發佈之日，除適用法律要求外，鳳凰新媒體不承擔任何更新任何前瞻性陳述的義務。
For investor and media inquiries please contact:
投資者和媒體查詢，請聯繫：
Phoenix New Media Limited
鳳凰新媒體有限公司
Qing Liu
清流
Email: investorrelations@ifeng.com
電子郵件：investorrelations.com@ifeng.com
ICR, Inc.
ICR，Inc.
Jack Wang
傑克·王(Jack Wang)
Tel: +1 (646) 405-4883
電話：+1(646)405-4883
Email: investorrelations@ifeng.com
電子郵件：investorrelations.com@ifeng.com
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SOURCE Phoenix New Media Limited
來源：鳳凰新媒體有限公司
(END) Dow Jones Newswires
(完)道瓊通訊社
January 20, 2020 06:00 ET (11:00 GMT)
2020年1月20日東部時間06：00(格林尼治標準時間11：00)
譯文內容由第三人軟體翻譯。