Gridsum Announces Formation of a Special Committee to Evaluate Non-Binding Proposal
GRIDSUM HOLDING INC ADS (GSUM)
Last gridsum holding inc ads earnings: 5/25 04:05 pm
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Source: PR Newswire
BEIJING, July 22, 2019 /PRNewswire/ -- Gridsum Holding Inc. ("Gridsum" or "Company") (NASDAQ: GSUM), a leading provider of cloud-based big-data analytics and artificial intelligence ("AI") solutions in China, today announced that in response to the non-binding proposal received by the Company's Board of Directors on July 15, 2019 (the "Proposal") from Guosheng Qi, Guofa Yu, their respective affiliated entities, and Beta Dynamic Limited, the Board of Directors of Gridsum has formed a special committee (the "Special Committee") comprised of three independent directors Mr. Dannis Cheuk Yin Lee, Mr. Xudong Gao and Mr. Feng Lu, to evaluate the Proposal and any other alternative transactions. Mr. Lee has been appointed as Chairman of the Special Committee.No decisions have been made by the Special Committee with respect to the Company's response to the Proposal or any other alternative transaction. The Special Committee has not set a definitive timetable for the completion of its evaluation
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