China Consumer Relations Centers, Inc. Announces Receipt of Preliminary Non-Binding “Heading Private” Proposal and Formation of Special Committee

TAI’AN, China, Nov. 30, 2020 /PRNewswire/ — China Client Relations Facilities, Inc. (Nasdaq: CCRC) (“CCRC” or the “Company”), a foremost e-commerce and money solutions enterprise procedure outsourcing (“BPO”) services supplier in China, nowadays announced that its board of administrators (the “Board”) has acquired a preliminary non-binding proposal letter dated November 27, 2020 jointly submitted by its founder and chairman of the Board, Mr. Zhili Wang, Mr. Debao Wang, Mr. Guoan Xu, Mr. Qingmao Zhang, Mr. Lengthy Lin, Mr. Jishan Sunlight and their respective affiliated entities (collectively, the “Buyer Group”), to receive all of the excellent shares of the Enterprise not presently owned by the Consumer Team in a heading personal transaction for $5.37 per share in funds (the “Proposal”). A duplicate of the proposal letter is attached hereto as Annex A.

CCRC’s Board has shaped a special committee of independent and disinterested directors (the “Special Committee”) consisting of Tianjun Zhang, Owens Meng, and Jie Xu with Tianjun Zhang servicing as the chairman of the Particular Committee, to contemplate the Proposal. The Distinctive Committee has retained Houlihan Lokey (China) Constrained as its monetary advisor and Hogan Lovells as its international authorized counsel in connection with its evaluate and evaluation of the Proposal.

The Board cautions the Company’s shareholders and other individuals contemplating investing in the Company’s securities that no conclusion has been built on the response to the Proposal. There can be no assurance that any definitive provide will be produced, that any arrangement will be executed or that this or any other transaction will be accredited or consummated. The Business does not undertake any obligation to supply any updates with respect to this or any other transaction, other than as demanded beneath applicable regulation.

About China Customer Relations Facilities, Inc.

The Corporation is a main e-commerce and fiscal services BPO service company in China concentrating on the intricate, voice-centered and on-line-based mostly segments of shopper treatment products and services, together with:

  • client romantic relationship administration
  • technical assistance
  • sales
  • consumer retention
  • promoting surveys and
  • study.

The Company’s provider is now delivered in Provinces of Shandong, Jiangsu, Henan, Guangdong, Yunnan, Hubei, Sichuan, Hebei, Anhui, Xinjiang, Guangxi, Jiangxi, Heilongjiang, and Chongqing. Additional details about the Corporation can be observed at:

Protected Harbor Statements

Specified statements contained in this announcement may well be seen as “forward-on the lookout statements” within just the that means of Portion 27A of the U.S. Securities Act of 1933, as amended, and Area 21E of the U.S. Securities Exchange Act of 1934, as amended. This kind of forward-wanting statements require recognized and unidentified threats, uncertainties and other things, which may induce the real functionality, economical condition or effects of operations of the Corporation to be materially different from any long run functionality, fiscal ailment or final results of functions implied by this sort of forward-hunting statements. The precision of these statements may perhaps be impacted by a selection of small business challenges and uncertainties that could lead to precise effects to differ materially from individuals projected or expected. The Firm undertakes no ongoing obligation, other than that imposed by regulation, to update these statements.

For even further facts, be sure to speak to

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

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Resource China Shopper Relations Facilities, Inc.