Luckin Coffee's Extraordinary General Meeting of Shareholders passed a number of resolutions restricting the return of former counterfeit management

Beijing News (reporter Wang Ziyang) On the evening of December 13, Luckin Coffee issued an announcement that the Special General Meeting of Shareholders (EGM) voted to pass various resolutions such as the shareholders' equity plan, the company's organizational outline and the proposed amendments to the articles of association. The above resolution will strictly restrict the transfer of shares of certain former management shareholders in the liquidation process and the corresponding voting rights.

After the above resolution comes into effect, Luckin Coffee shareholders will not be allowed to transfer the company shares to any restricted person, and no restricted person may transfer the company shares, or such restricted persons will not exercise voting rights in respect of the company shares legally or actually owned. The decision was alleged to be a necessary defense against the return of the former fake management.

Earlier, on the evening of November 8, Luckin Coffee issued an announcement that it would convene a special shareholders' meeting to vote on the amendment plan of the company's articles of association. According to the announcement, the new articles of association mainly restrict the transfer of the shares of the original management shareholders in the liquidation process and the corresponding voting rights, and strictly restrict anyone related to the former fraudulent management, once holding the company's shares, their voting rights and transfer rights will also be strictly restricted. Luckin Coffee's board of directors said it fully supported the resolution to be voted on and recommended that all shareholders vote in favour.

Beijing News reporter Wang Ziyang

Edited by Li Yan proofread by Jia Ning