Hollysys Announces Completion of Merger Transaction with Ascendent Capital Partners
• Requests trading of its shares be suspended as of close of trading July 25, 2024 BEIJING, July 25, 2024 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") and Ascendent Capital Partners ("Ascendent") today announced the completion of the merg...
Hollysys Announces Expected Completion Date of Merger Transaction with Ascendent Capital Partners
BEIJING, July 18, 2024 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") today announced that it expects to complete its merger transaction with a buyer controlled by Ascendent Capital Partners as soon asJuly 25, 2024. The parties have successfull...
Hollysys Announces Completion of Regulatory Review of Merger Transaction
BEIJING, July 2, 2024 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") today announced that it has been informed by Ascendent Capital Partners ("Ascendent") that a buyer controlled by Ascendent has obtained all the PRC approvals required to be obt...
Hollysys Announces Appointment of New Auditor
BEIJING, June 3, 2024 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") today announced the appointment of Vocation HK CPA Limited ("Vocation") as its independent registered public accounting firm, effectiveMay 28, 2024. The appointment of Vocatio...
Hollysys CEO Informs Company of Recent Share Sales
Expects to maintain majority of his holdings in the Company in anticipation of the going private transaction closing BEIJING, May 22, 2024 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") has been informed by its Chief Executive Officer, Dr.Chang...
Hollysys Automation Technologies Reports Unaudited Financial Results for the Third Quarter and the First Nine Months Ended March 31, 2024
First Nine Months of Fiscal Year 2024 Financial Highlights * Total revenues were $597.1 million, an increase of 2.5% compared to the comparable prior year period. * Gross margin was 31.0%, compared to 33.4% for the comparable prior year period.Non-GAAP gross margin was 31.2%, compared to 33.6...
Hollysys Automation Technologies Reports Unaudited Financial Results for the Second Quarter and the First Half Year Ended December 31, 2023
First Half of Fiscal Year 2024 Financial Highlights * Total revenues were $423.6 million, an increase of 2.1% compared to the comparable prior year period. * Gross margin was 31.9%, compared to 36.1% for the comparable prior year period.Non-GAAP gross margin was 32.1%, compared to 36.3% for t...
Hollysys Announces Shareholder Approval of Merger Agreement with Ascendent
BEIJING, Feb. 8, 2024 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") today announced that, at an extraordinary general meeting of shareholders ("EGM") held today, the Company's shareholders voted in favor of, among other things, the proposal to ...
Hollysys Recommends Shareholders Vote FOR Ascendent Transaction to Secure Compelling Value
Updated proxy to detail recent engagement with Dazheng BEIJING, Jan. 31, 2024 /PRNewswire/ -- The Board of Directors of Hollysys Automation Technologies Ltd. ("Hollysys" or the "Company") today issued a letter to shareholders reiterating its support for the proposed acquisition of the Company b...
Hollysys Reiterates Strong Support for Ascendent Deal; Provides Update on Engagement with Dazheng
- Special Committee concluded Dazheng proposal was not superior after rigorous negotiations - Dazheng was unable to provide sufficient assurances around equity financing and last-minute introduction of yet another new member after multiple changes in its consortium composition raised further que...
Hollysys Announces Shareholder Meeting to Vote on Acquisition by Ascendent Capital Partners
-- Board recommends shareholders to vote "FOR" merger agreement for acquisition by Ascendent at$26.50/share BEIJING, Jan. 5, 2024 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") today announced that it will hold an extraordinary general meeting ...
Hollysys Announces End of "Go-Shop" Period under Merger Agreement with Ascendent Capital Partners
* Company receives additional offers during "go-shop" period * None of the offers received constitutes or would reasonably be expected to result in a Superior Proposal BEIJING, Dec. 27, 2023 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") toda...
Hollysys to be Acquired by Ascendent Capital Partners for US$26.50 in Cash Per Share
* Hollysys Board has unanimously approved Ascendent's all cash offer at 42% premium to the unaffected price as of23 August 2023 * Agreement marks culmination of formal sale process conducted by Special Committee of independent directors BEIJING, Dec. 11, 2023 /PRNewswire/ -- Hollysys Automati...
Hollysys Update: EGM, Sale Process
- Hollysys intends to hold special meeting of shareholders in January 2024 - Special Committee continues sale process in expedited manner BEIJING, Nov. 22, 2023 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") today announced its intention to h...
Hollysys Automation Technologies Reports Unaudited Financial Results for the First Quarter Ended September 30, 2023
First Quarter of Fiscal Year 2024 Financial Highlights * Total revenues were $199.9 million, an increase of 17.6% compared to the comparable prior year period. * Gross margin was 34.6%, compared to 31.1% for the comparable prior year period.Non-GAAP gross margin was 34.8%, compared to 31.3% f...
Hollysys Provides Update on Sale Process; Responds to Shareholder Request for Special Meeting
- Board Special Committee receives several indications of interest from financial sponsors and strategic buyers - Board to confirm plans for special meeting, pending outcome of November 21 court hearing on an injunction application against Ace Lead Profits and its Hollysys shares BEIJING, Oct....
Hollysys Provides Update on Ongoing Sale Process and Special Meeting Request; Discloses Offer from Management-Backed Buyer Group
- Proposal on behalf of management team offers U.S. $25 per share - - Sale process continues as Special Committee engages other parties- BEIJING, Oct. 24, 2023 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") today announced that its special commi...
Hollysys Announces Formal Sale Process as Part of Review of Strategic Options
- Forms special committee of independent directors to conduct process - - Will evaluate proposal from bidder group - - Deutsche Bank to solicit additional potential offers on behalf of the Company - BEIJING, Oct. 2, 2023 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hol...
Hollysys Receives Notices of Intention to Request Special Meeting of Shareholders and Additionally an Unsolicited Offer to Acquire the Company
BEIJING, Sept. 5, 2023 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") announced that onAugust 23, 2023, it received from certain shareholders of the Company, notices of intention (collectively, the "Notices of Intention") to request the board of...
Hollysys Automation Technologies Reports Unaudited Financial Results for the Fourth Quarter and the Fiscal Year Ended June 30, 2023
Fiscal Year 2023 Financial Highlights * Total revenues were $777.4 million, an increase of 9.9% compared to the comparable prior year period. Unfavorable impact from depreciation of Renminbi against the U.S. dollar has adversely affected our revenues for fiscal year 2023. * Gross margin was ...
