Molecular Data Inc. Announces Share Distribution
SHANGHAI, China, June 30, 2020 (GLOBE NEWSWIRE) -- Molecular Data Inc. (“Molecular Data” or the “Company”) (MKD), a leading technology-driven platform in China’s chemical industry, today announced that it has completed the distribution of the Company’s ordinary shares held by MOLBASE Inc. (“MOLBASE”) to the existing shareholders of MOLBASE in proportion to MOLBASE’s current shareholding structure (the “Share Distribution”), effective June 30, 2020. This Share Distribution plan has been disclosed in the Company’s registration statement on Form F-1 declared effective on December 27, 2019 (the “Registration Statement”).
Prior to the Share Distribution, MOLBASE beneficially owned all of the Company’s issued and outstanding Class B ordinary shares, which constituted approximately 89.9% of the Company’s total issued and outstanding ordinary shares and 98.9% of the aggregate voting power of total issued and outstanding ordinary shares, and was deemed as the parent company of Molecular Data.
Subsequent to the completion of the Share Distribution, (i) Dr. Dongliang Chang beneficially owns 54,819,733 Class B ordinary shares of the Company, representing 15.9% of the Company’s total issued and outstanding ordinary shares and 65.3% of the aggregate voting power of the Company; and (ii) each existing shareholder of MOLBASE other than Dr. Dongliang Chang beneficially owns only Class A ordinary shares.
The following table sets forth information concerning the beneficial ownership of the Company’s ordinary shares as of June 30, 2020, following the completion of the Share Distribution, for: (i) each of the Company’s directors and executive officers; and (ii) each person known to the Company to beneficially own more than 5% of the Company’s issued and outstanding ordinary shares. The calculations in the table below are based on ordinary shares outstanding as of June 30, 2020, consisting of (x) 290,813,051 Class A ordinary shares, and (y) 54,819,733 Class B ordinary shares.
Beneficial ownership is determined in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”). In computing the number of shares beneficially owned by a person and the percentage ownership of that person, the Company has included shares that the person has the right to acquire within 60 days, including through the exercise of any option, warrant or other right or the conversion of any other security. These shares, however, are not included in the computation of the percentage ownership of any other person.
| Ordinary Shares Beneficially Owned | |||||||||
| Class A | Class B | Total | % of | % of | |||||
| Number | Number | Number | % | % | |||||
| Directors and Executive Officers*: | |||||||||
| Dongliang Chang | — | 54,819,733 | 54,819,733 | 15.9 | 65.3 | ||||
| Zheng Wang | 4,485,173 | — | 4,485,173 | 1.3 | — | ||||
| Dawei Ma | — | — | — | — | — | ||||
| Ning Zhu | — | — | — | — | — | ||||
| Yanbin Wang | — | — | — | — | — | ||||
| Zhaohong Li | * | — | * | * | — | ||||
| Qiaoqiao Sun | * | — | * | * | — | ||||
| Li Li | 5,376,979 | — | 5,376,979 | 1.5 | — | ||||
| All Directors and Executive Officers as a Group | 10,916,951 | 54,819,733 | 65,736,684 | 18.4 | 65.3 | ||||
| Principal Shareholders: | |||||||||
| Cool Emotion International Limited | — | 54,819,733 | 54,819,733 | 15.9 | 65.3 | ||||
| Trustbridge Entities | 52,940,896 | — | 52,940,896 | 15.3 | 6.3 | ||||
| Max Smart Limited | 49,351,150 | — | 49,351,150 | 14.3 | 5.9 | ||||
| Greatest Investments Limited | 43,801,792 | — | 43,801,792 | 12.7 | 5.2 | ||||
| Vangoo Entities | 38,814,375 | — | 38,814,375 | 11.2 | 4.6 | ||||
| Sinovation Ventures Entities | 36,225,916 | — | 36,225,916 | 10.5 | 4.3 | ||||
| TR Grand Fund Inc. | 24,987,925 | — | 24,987,925 | 7.2 | 3.0 | ||||
| Notes: | |
| * | Less than 1% of our total issued and outstanding ordinary shares as of June 30, 2020. |
| ** | For each person and group included in this column, percentage of voting power is calculated by dividing the voting power beneficially owned by such person or group by the voting power of all of the Company’s Class A and Class B ordinary shares as a single class. Each holder of Class A ordinary shares is entitled to one vote per share and each holder of our Class B ordinary shares is entitled to ten votes per share on all matters submitted to them for a vote. The Company’s Class A ordinary shares and Class B ordinary shares vote together as a single class on all matters submitted to a vote of our shareholders, except as may otherwise be required by law. The Company’s Class B ordinary shares are convertible at any time by the holder thereof into Class A ordinary shares on a one-for-one basis. |
Further information regarding the beneficial ownership of ordinary shares is or will be included in the Company’s filings with the SEC.
