The Board of Directors recommends that shareholders vote against the proposal to remove Sean Shao
as Independent Director of the Board
BEIJING, June 26, 2020 (GLOBE NEWSWIRE) – Luckin Coffee Inc. (the “Company”) (NASDAQ: LK) announced today that the Company’s Board of Directors (the “Board”) was notified (the “Notification”) by Mr. Charles Zhengyao Lu who, in his capacity as Chairman of the Board, had decided to convene an Extraordinary General Meeting of shareholders of the Company (the “proposed EGM”) at 15:00, July 5, 2020, Time of Beijing, in accordance with a request from Haode Investment Inc. (“Haode”). Haode, a company owned by Mr. Lu, is a shareholder in the Company that owns 208,146,050 Class B common shares, representing approximately 37.2% of the aggregate voting power of the Company’s capital shares as of June 26, 2020 .
The Board has reviewed the Notice, and the majority of the Board directors 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 independent director of the Board, due to concerns about a possible disruption to the ongoing internal investigation, considering that Mr. Shao is currently He serves as Chairman of the Special Committee of the Board.
A copy of the proposed EGM notice posted on the Company’s website is attached as Exhibit 99.3 to the current Report on Form 6-K provided by the Company today.
Safe Harbor Statement
This announcement 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 United States Private Securities Litigation Reform Act of 1995. These statements may be identified by terminology as “will”, “wait”, “anticipate”, ” future “” intentions “,” plans “,” believe “,” estimates “,” potential “,” continue “,” ongoing “,” objectives “,” guidance “and similar statements. The Company may also make forward written or oral statements in its periodic reports to the United States Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written and in oral statements made by its officers, directors or employees to third parties. Any statement other than a historical fact, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Various 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 commercial development, results of operations and financial condition; its ability to understand the buyer’s needs and provide products and services to attract and retain buyers; your ability to maintain and enhance your brand recognition and reputation; your ability to trust third-party merchants and logistics service providers to provide delivery services to buyers; its ability to maintain and improve quality control policies and measures; your ability to establish and maintain relationships with merchants; trends and competition in the Chinese e-commerce market; changes in your income and certain cost or expense items; the expected growth of China’s e-commerce market; The PRC’s government policies and regulations related to the Company’s industry, and general economic and business conditions globally and in China and the assumptions underlying or related to any of the foregoing. More information about 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 assumes no obligation to update any forward-looking statements, except as required by applicable law.
About Luckin Coffee Inc.
Luckin Coffee Inc. (NASDAQ: LK) has pioneered a technology-driven retail network to provide high-quality, high-affordability, and high-comfort coffee and other products to customers. Powered by big data analytics, artificial intelligence, and proprietary technologies, the Company pursues its mission to be a part of everyone’s everyday life, starting with coffee. The company was founded in 2017 and is based in China. For more information, visit investor.luckincoffee.com.
Investor and media contacts
Investor Relations:
Luckin Coffee Inc. IR
Email: [email protected]
Bill Zima / Fitzhugh Taylor
ICR, Inc.
Telephone: 646 880 9039
Media relations:
Luckin Coffee Inc. PR
Email: [email protected]
Ed Trissel / Jack Kelleher
Joele Frank, Wilkinson Brimmer Katcher
Telephone: 212 355 4449
