Hollysys Announces Shareholder Approval of Merger Agreement with Ascendent

Core Points - Hollysys Automation Technologies Ltd. announced that shareholders voted in favor of the merger agreement with Ascendent Capital Partners, resulting in Hollysys becoming a wholly owned subsidiary of Superior Technologies Holding Limited [1][2] - Approximately 76.95% of the total issued and outstanding ordinary shares voted at the extraordinary general meeting, with 86.94% of those votes in favor of the merger [2] - The merger is subject to conditions, including that no more than 10% of shareholders dissent, and the company has received notices of objection from shareholders holding more than 10% of shares [3][4] Company Overview - Hollysys is a leading provider of automation control system solutions in China, with operations in eight other countries and regions across Asia [5] - The company specializes in integrated solutions for industrial automation and rail transportation, delivering a full spectrum of automation hardware, software, and services [6] - Since its founding in 1993, Hollysys has completed over 45,000 projects for approximately 23,000 customers in various sectors, establishing leading market positions [6]