Luckin Coffee Inc. (the “Company”) (NASDAQ: LK) today announced that the Board of Directors of the Company (the “Board”) was notified (the “Notification”) by Mr. Charles Zhengyao Lu that, in his capacity as the Chairman of the Board, he had decided to convene an Extraordinary General Meeting of the shareholders of the Company (the “Proposed EGM”) at 15:00, July 5, 2020, Beijing time, pursuant to a requisition by Haode Investment Inc. (“Haode”). Haode, a company beneficially owned by Mr. Lu, is a stockholder of the Company holding 208,146,050 Class B ordinary shares, which represent approximately 37.2% of the aggregate voting power of the Company’s equity stocks as of June 26, 2020.To get more news about luckin coffee china, you can visit shine news official website.
The Board has reviewed the Notification, and the majority of directors of the Board have confirmed the date of the Proposed EGM. The Board resolved to recommend to shareholders to vote against the proposal to remove Mr. Sean Shao as an independent director of the Board, due to concerns of potential disruption to the ongoing internal investigation considering Mr. Shao currently serves as the chairman of the Special Committee of the Board.
A copy of the notice of the Proposed EGM posted to the Company’s website is attached as Exhibit 99.3 to the Current Report on Form 6-K furnished by the Company today.Banks including Credit Suisse Group AG have won court orders to liquidate tens of millions of dollars in Luckin Coffee Inc. stock owned by embattled Chairman Charles Lu, a development that could weaken his control over the company as a crucial shareholder vote looms.