BEIJING, China – Luckin Coffee Inc. (NASDAQ: LK) announced on June 26 that the Board of Directors of the Company (the “Board”) was notified (the “Notification”) by Mr. Charles Zhengyao Lu that, in his capacity as the Chairman of the Board, he had decided to convene an Extraordinary General Meeting of the shareholders of the Company (the “Proposed EGM”) at 15:00, July 5, 2020, Beijing time, pursuant to a requisition by Haode Investment Inc. (“Haode”).
Haode, a company beneficially owned by Mr. Lu, is a stockholder of the Company holding 208,146,050 Class B ordinary shares, which represent approximately 37.2% of the aggregate voting power of the Company’s equity stocks as of June 26, 2020.
The Board has reviewed the Notification, and the majority of directors of the Board have confirmed the date of the Proposed EGM.
The Board of Luckin Coffee resolved to recommend to shareholders to vote against the proposal to remove Mr. Sean Shao as an independent director of the Board, due to concerns of potential disruption to the ongoing internal investigation considering Mr. Shao currently serves as the chairman of the Special Committee of the Board.
A copy of the notice of the Proposed EGM posted to the Company’s website is attached as Exhibit 99.3 to the Current Report on Form 6-K furnished by the Company on June 26.