SHANGHAI, Jan. 28, 2016 /PRNewswire/ -- Noah Holdings Limited ("Noah" or the "Company") (NYSE: NOAH), today announced that, at the extraordinary general meeting ("EGM") of shareholders held on January 28, 2016, the Company's shareholders voted in favor of the proposal to adopt a dual-class share structure (the "Dual-class Share Structure"), pursuant to which the Company's authorized share capital shall be re-organized and re-designated into Class A ordinary shares and Class B ordinary shares, with each Class A ordinary share being entitled to one (1) vote and each Class B ordinary share being entitled to four (4) votes on all matters subject to vote at general meetings of the Company, as well as the proposal to amend and restate the Company's memorandum and articles of association to reflect the adoption of the Dual-class Share Structure and other related matters. Ms. Jingbo Wang, Noah's Founder, Chairman and CEO, and Mr. Zhe Yin, Noah's Co-founder, Executive Director and CEO of Noah's subsidiary Gopher Asset Management, will receive Class B ordinary shares and all other shareholders will receive Class A ordinary shares.
"The dual-class share structure is an important part of our long term strategy. We are building our platform for the next decade. This structure will keep our focus on long-term priorities rather than short-term fluctuations and ensure that we keep intact our values and elements of success espoused by our founders", commented Kenny Lam, Noah's Group President.
ABOUT NOAH HOLDINGS LIMITED
Founded in 2005, Noah Holdings Limited is a leading wealth management services provider with a focus on global wealth investment and asset allocation services for high net worth individuals and enterprises in China. In the third quarter of 2015, Noah distributed over US$4.1 billion of wealth management products. As of September 30, 2015, Noah had assets under management of US$12.1 billion.
Noah distributes a wide array of wealth management products, including fixed income products, private equity fund products, mutual fund products and insurance products. Noah also develops and manages financial products denominated in both Renminbi and U.S. dollars, covering real estate funds and funds of funds, including private equity funds, real estate funds, hedge funds and fixed income funds through Gopher Asset Management. In addition, in 2014, the Company launched a proprietary internet finance platform to provide financial products and services to white-collar professionals and enterprise clients in China. Noah delivers customized financial solutions to clients through a network of 1,038 relationship managers across 130 branches and sub-branches in 65 cities in China, and serves the international investment needs of its clients through a wholly owned subsidiary in Hong Kong. The Company's wealth management business had 88,663 registered clients as of September 30, 2015.
Noah has won numerous awards and recognition, including top 5 in Fortune's list of Fastest-Growing Companies in 2015, Forbes' Best Potential Business in China award in 2015, STCN's Best Third Party Wealth Management Company award in 2014, Hurun Report's Popular Independent Wealth Management Institution award in 2013 and 2014, and Deloitte's Technology Fast 500 Asia Pacific award in 2013.For more information please visit Noah at ir.noahwm.com.
Noah Holdings Limited
SOURCE Noah Holdings Limited