Noah Holdings Shareholders Approve Dual-class Share Structure - Quick Facts

(RTTNews) - Noah Holdings Limited (NOAH), a wealth management services provider, announced Thursday that its shareholders voted in favor of the proposal to adopt a dual-class share structure at the extraordinary general meeting held on January 28. Pursuant to this, the company's authorized share capital shall be re-organized and re-designated into Class A ordinary shares and Class B ordinary shares. Each Class A ordinary share will be entitled to one vote and each Class B ordinary share will be entitled to four votes on all matters subject to vote at general meetings of the Company.

The company also said the proposal to amend and restate the Company's memorandum and articles of association would reflect the adoption of the Dual-class Share Structure and other related matters.

Jingbo Wang, Noah's Founder, Chairman and CEO, and Zhe Yin, Noah's Co-founder, Executive Director and CEO of Noah's subsidiary Gopher Asset Management, will receive Class B ordinary shares and all other shareholders will receive Class A ordinary shares.

Kenny Lam, Noah's Group President, said, "The dual-class share structure is an important part of our long term strategy. We are building our platform for the next decade. This structure will keep our focus on long-term priorities rather than short-term fluctuations and ensure that we keep intact our values and elements of success espoused by our founders."