The Special Committee was formed to consider the preliminary non-binding "going private" proposal set out in a September 12, 2019 letter from Tencent Holdings Limited and Hammer Capital.
The Board cautions the Bitauto's shareholders and others considering trading in its securities that no decisions have been made with respect to the company's response to the proposal.
There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated. The company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law.
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