Brief: Kingsoft Cloud Says Entering Into A Definitive Agreement To Acquire Controlling Interests In Camelot Employee Scheme

Kingsoft Cloud Holdings

02/08/2021 12:56

Aug 2 (Reuters) - Kingsoft Cloud Holdings Ltd  KC.O :
    * KINGSOFT CLOUD - ENTERING INTO A DEFINITIVE AGREEMENT TO
ACQUIRE
CONTROLLING INTERESTS IN CAMELOT EMPLOYEE SCHEME
    * KINGSOFT CLOUD HOLDINGS LTD - PROPOSED TRANSACTION IS
EXPECTED
TO BRING SIGNIFICANT SYNERGIES TO COMPANY
    * KINGSOFT CLOUD - WILL BUY REMAINING STAKE FROM OTHER
EXISTING
SHAREHOLDERS IN CAMELOT BY ISSUING UP TO RMB782.5 MILLION WORTH
OF ADDITIONAL ORDINARY SHARES IN JUNE 2023
    * KINGSOFT CLOUD - TO ISSUE TO EACH OF TWO CAMELOT
CO-FOUNDERS
UNRESTRICTED & RESTRICTED SHARES REPRESENTING ABOUT 1.6% AND
1.0% OF OUTSTANDING SHARES
    * KINGSOFT CLOUD - WILL ISSUE ORDINARY SHARES REPRESENTING
ABOUT
1.8% OF OUTSTANDING SHARES TO OTHER EXISTING SHAREHOLDERS OF
CAMELOT

Source text for Eikon:  ID:nGNX308rx4 
Further company coverage:  KC.O 

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