58 share repurchase agreement between City and major shareholder DCM

Absrtact: 58 The same city as of April 15, the share structure of July 8 News, 58 of the same city in the paper submitted to the Securities and Exchange Commission disclosed that the company recently spent nearly 157 million U.S. dollars from the major shareholder DCM buy back 7,838,949 Shares of Class B. June 30, 58 the same city and
58 share structure of the city as at April 15

July 8 News, 58 of the same city in the paper submitted to the U.S. Securities and Exchange Commission disclosed that the company recently spent nearly 157 million U.S. dollars from the major shareholder DCM repurchase of 7,838,949 shares of Class B shares.

June 30, 58 the same city and the major shareholder DCM reached a share repurchase agreement, the former with a common stock of 20 U.S. dollars from DCM V, L.P. and DCM Affiliates Fund V, L.P. 7,838,949 shares of Class B shares were bought and traded at a total price of 156,778,980 dollars.

After the deal was completed, DCM also held 12,134,733 shares of Class B, accounting for 7.05% of total equity. According to the 2013 annual report of the city of 58, which was submitted in April, the DCM also held 22,034,498 shares, with a shareholding of 13.5%, 58 of the city's fourth largest shareholder.

It should be pointed out that, since the 58 shares in the same city are all entitled to a special voting rights of the shares of B, so this seemingly conventional stock repurchase project is actually 58 of the city is recovering the company's control of a move.

58 shares of Class A common and Class B common stock are issued when the city is listed, in which a shares 1 votes per share, while the B shares enjoy 10 voting rights per share. (Xiao Feng)