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Alternative Market Briefing

SINA calls on shareholders to reject activist hedge fund's board nominees

Wednesday, October 04, 2017

Komfie Manalo, Opalesque Asia:

Embattled Chinese online media company SINA Corporation on Tuesday called on its shareholders to vote for its candidate the Yichen Zhang and reject each of activist hedge fund Aristeia Capital's nominee on the white proxy card in the company's upcoming 2017 Annual General Meeting of Shareholders on November 3, 2017.

SINA said in a letter to its shareholders, "At the SINA 2017 Annual General Meeting to be held on November 3, 2017, you will be asked to make an important decision regarding the composition of the Company's Board of Directors that could impact the future of the Company and the value of your investment in SINA. Your Board of Directors unanimously recommends that you vote 'FOR' the re-election of Yichen Zhang on the WHITE proxy card TODAY."

The company claimed that under its current leadership and direction of the Board, SINA continues to successfully execute its strategic plan, deliver strong financial results, drive growth and create substantial value for all shareholders. Despite this successful track record, Aristeia has publicly stated that it will solicit proxies in order to elect two of its own nominees to your Board.

The letter added, "Currently, you are represented by a Board of Directors that is hi......................

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