China Customer Relations Centers, Inc. Shareholders Approve Privatization

TAI’AN, China, June 18, 2021 / PRNewswire / – China Customer Relations Centers, Inc. (Nasdaq: CCRC) (the “Company”), a leading provider of e-commerce business process outsourcing and financial services in China, today announced that at the extraordinary general meeting of shareholders (the “EGM”) held on June 18, 2021, the shareholders of the Company voted in favor, among others, of the proposals for authorization and approval (i) of the agreement and the proposed merger previously announced on March 12, 2021 (the “Merger Agreement”), by and among the Company, Taiying Group Ltd., a limited liability trading company incorporated in the British Virgin Islands (“Parent”) and Taiying International Inc., a limited liability trading company incorporated in the British Virgin Islands and a wholly owned subsidiary of the parent company (“Merger Sub”); (ii) the plan of amalgamation and articles of amalgamation to be filed with the Registrar of Corporate Affairs of the British Virgin Islands (the “Merger Plan”), pursuant to which Merger Sub will merge with and into the Company and cease to exist, the Company continuing to be the surviving company and becoming a wholly owned subsidiary of the parent company (the “Merger “); and (iii) all transactions contemplated by the Merger Agreement and the Merger Plan, including the Merger.

At the EGM, the quorum was reached and approximately 80% of the outstanding shares of the Company voted in favor of the proposal to authorize and approve the Merger Agreement and all the transactions contemplated by the Merger Agreement and the Plan. of Fusion, including the Fusion.

The parties currently plan to complete the Merger as soon as possible, subject to satisfaction or waiver of the conditions set out in the Merger Agreement. Upon completion of the Merger, the Company will become and continue to operate as a private company, and its common shares will no longer be listed on the NASDAQ Capital Market.

About China Customer Relations Centers, Inc.

The Company is a leading provider of e-commerce business process outsourcing and financial services in China focusing on the complex, voice and online segments of customer support services, including:

The Company’s service is currently offered from its call centers located at Liaoning Province, Shandong Province, Jiangsu Province, Guangdong Province, Yunnan Province, Hubei Province, Jiangxi Province, Hebei Province, Anhui Province, Sichuan province, Heilongjiang Province, Xinjiang Uighur Autonomous Region, Guangxi Zhuang Autonomous Region, Chongqing City, Shanghai City, and Beijing City. More information about the company can be found at: www.ccrc.com.

Safe Harbor Declaration

This press release contains statements which express the Company’s current opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results and are therefore or may be considered “forward-looking statements” within the meaning of the US Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “if”, “will”, “expected” and similar statements. Forward-looking statements involve inherent risks, uncertainties and assumptions and other factors that could cause actual results to differ materially from those contained in such statements. The risks, uncertainties and assumptions include, but are not limited to: uncertainties as to the expected benefits and costs of the proposed Merger, the expected timing of the completion of the Merger and the ability of the parties to complete the Merger in light of the various closing conditions; the possibility that funding may not be available; the possibility that various closing conditions of the transaction will not be met or waived; and other risks and uncertainties discussed in the documents filed with the SEC by the Company, as well as in the transaction report of Schedule 13E-3, all amendments thereto and the proxy circular filed by the Company. These forward-looking statements reflect the Company’s expectations as of the date of this press release. You should not rely on these forward-looking statements as predictions of future events. The Company does not undertake any obligation to update any forward-looking statement, except as required by applicable law.

For more information please contact:

Sherry Zheng
Weitian Group SARL
Email: [email protected]
Phone: + 1-718-213-7386

Cision

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SOURCE China Customer Relations Centers, Inc.


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