DouYu International Holdings Ltd 6-K, filed Oct 14, 2020

DouYu International Holdings Ltd (DOYU)

6-K 2020-10-14 For: 2020-10-14

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Added on April 06, 2026

About this 6-K

DouYu International Holdings Ltd filed this 6-K on October 14, 2020.

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Exhibit No.		Description

99.1		Agreement and Plan of Merger dated as of October 12, 2020 among HUYA Inc., Tiger Company Ltd., DouYu International Holdings Limited and Nectarine Investment Limited.

		DOUYU INTERNATIONAL HOLDINGS LIMITED


Date:	October 14, 2020	By:	/s/ Shaojie Chen
			Name:	Shaojie Chen
			Title:	Chief Executive Officer, Director

Article I. THE MERGER	2
Section 1.1 The Merger	2
Section 1.2 Effective Time	2
Section 1.3 Closing of the Merger	2
Section 1.4 Effects of the Merger	3
Section 1.5 Memorandum and Articles of Association	3
Section 1.6 Directors	3
Section 1.7 Officers	3
Section 1.8 Regulatory filings	3
Article II. CONVERSION OF SECURITIES	3
Section 2.1 Conversion of Securities	3
Section 2.2 Treatment of DouYu RSU Awards	5
Section 2.3 Exchange Fund	6
Section 2.4 Exchange Procedures	7
Section 2.5 Transfer Books; No Further Ownership Rights	8
Section 2.6 Purported Dissenting Shares	9
Section 2.7 Termination of Exchange Fund	10
Section 2.8 No Liability	11
Section 2.9 Lost, Stolen or Destroyed Certificates	11
Section 2.10 Withholding Rights	11
Section 2.11 Agreement of Fair Value	11
Article III. REPRESENTATIONS AND WARRANTIES OF DOUYU	11
Section 3.1 Organization and Qualification; Subsidiaries	12
Section 3.2 Capitalization	12
Section 3.3 Authority	13
Section 3.4 SEC Reports; Financial Statements	14
Section 3.5 No Undisclosed Liabilities	16
Section 3.6 Absence of Changes	16
Section 3.7 Consents and Approvals; No Violations	17
Section 3.8 Property	18
Section 3.9 Legal Proceedings	18
Section 3.10 Permits; Compliance with Applicable Laws	18
Section 3.11 Employee Benefit Plans	20
Section 3.12 Labor Matters	21
Section 3.13 Taxes	21
Section 3.14 Material Contracts	22
Section 3.15 Insurance Matters	24
Section 3.16 Intellectual Property	24
Section 3.17 PRC Subsidiaries	26
Section 3.18 Interested Party Transactions	27
Section 3.19 Opinion of Financial Advisor	27
Section 3.20 Brokers	27
Section 3.21 Non-Reliance	28

Section 3.22 No Additional Representations	28
Article IV. REPRESENTATIONS AND WARRANTIES OF Huya AND MERGER SUB	28
Section 4.1 Organization and Qualification; Subsidiaries	28
Section 4.2 Capitalization	29
Section 4.3 Authority	30
Section 4.4 SEC Reports; Financial Statements	31
Section 4.5 No Undisclosed Liabilities	32
Section 4.6 Absence of Changes	32
Section 4.7 Consents and Approvals; No Violations	34
Section 4.8 Property	34
Section 4.9 Legal Proceedings	35
Section 4.10 Permits; Compliance with Applicable Laws	35
Section 4.11 Employee Benefit Plans	36
Section 4.12 Labor Matters	37
Section 4.13 Taxes	37
Section 4.14 Material Contracts	38
Section 4.15 Insurance Matters	40
Section 4.16 Intellectual Property	41
Section 4.17 PRC Subsidiaries	42
Section 4.18 Interested Party Transactions	43
Section 4.19 Opinion of Financial Advisor	44
Section 4.20 Brokers	44
Section 4.21 Non-Reliance	44
Section 4.22 No Additional Representations	44
Article V. REPRESENTATIONS AND WARRANTIES OF TOM	45
Section 5.1 Organization	45
Section 5.2 Authority	45
Section 5.3 Ownership	45
Section 5.4 Consents and Approvals; No Violations	45
Section 5.5 No Additional Representations	46
Article VI. COVENANTS RELATED TO CONDUCT OF BUSINESS	46
Section 6.1 Conduct of Business of DouYu	46
Section 6.2 Conduct of Business of Huya	49
Section 6.3 Access to Information	51
Article VII. ADDITIONAL AGREEMENTS	52
Section 7.1 Preparation of and Filing of the Form F-4, the Proxy Statement and the Schedule 13E-3	52
Section 7.2 Acquisition Proposals Relating to DouYu	53
Section 7.3 DouYu Shareholders Meetings	55
Section 7.4 Reasonable Best Efforts	56
Section 7.5 Public Announcements	57
Section 7.6 Indemnification; Directors’ and Officers’ Insurance	57
Section 7.7 Notification of Certain Matters	59

Section 7.8 Fees and Expenses	60
Section 7.9 Delisting of Stock	60
Section 7.10 Anti-Takeover Statutes	60
Section 7.11 Resignations	60
Section 7.12 Governance Matters	60
Section 7.13 DouYu Corporate Structure Matters	61
Section 7.14 Participation in Litigation	62
Section 7.15 Tax Treatment	62
Section 7.16 Closing Dividends	63
Section 7.17 Voting of DouYu Shares by Tencent	63
Section 7.18 Reassignment Agreement	64
Section 7.19 Exemption from Dissenter Rights.	64
Section 7.20 Tencent Indemnity	64
Section 7.21 Termination of DouYu Share Incentive Plan	64
Section 7.22 Compensation Matters.	65
Section 7.23 Corporate Actions	66
Article VIII. CONDITIONS TO CONSUMMATION OF THE MERGER	66
Section 8.1 Conditions to Each Party’s Obligations to Effect the Merger	66
Section 8.2 Conditions to the Obligations of Huya and Merger Sub	66
Section 8.3 Conditions to the Obligations of DouYu	68
Article IX. TERMINATION; AMENDMENT; WAIVER	68
Section 9.1 Termination by Mutual Agreement	68
Section 9.2 Termination by Any of Huya, DouYu	69
Section 9.3 Termination by Huya	69
Section 9.4 Termination by DouYu	70
Section 9.5 Effect of Termination and Abandonment	70
Article X. MISCELLANEOUS	72
Section 10.1 Nonsurvival of Representations and Warranties	72
Section 10.2 Entire Agreement; Assignment	72
Section 10.3 Notices	73
Section 10.4 Governing Law	74
Section 10.5 Arbitration	75
Section 10.6 Descriptive Headings	75
Section 10.7 No Third Party Beneficiaries	75
Section 10.8 Severability	75
Section 10.9 Specific Performance	75
Section 10.10 Amendment	76
Section 10.11 Extension; Waiver	76
Section 10.12 Interpretation	76
Section 10.13 Certain Definitions	77
Section 10.14 Counterparts	84

Accelerating RSU Holders	65
Accelerating RSUs	65
Acquisition Proposal	54
Additional Huya Shares	29
Affiliate	77
Aggregate ADS Payment	7
Agreement	1
Articles of Association	3
Assumed RSU Award	5
Bankruptcy and Equity Exception	14
Business Day	77
Cayman Companies Law	2
Certificates	7
Claim	58
Closing	2
Closing Date	2
Code	77
Contract	18
COVID-19 Measures	77
Data Protection Laws	20, 36
Dissenters Shares	9
DouYu	1
DouYu ADSs	4
DouYu Affiliate	19, 35
DouYu Agreements	18
DouYu Benefit Plan	20
DouYu Board	1
DouYu Board Recommendation	54
DouYu Change of Recommendation	54
DouYu Closing Dividend	63
DouYu Deposit Agreement	6
DouYu Depositary	6
DouYu Disclosure Schedule	11
DouYu Dividend Record Date	63
DouYu Employees	77
DouYu Financial Advisor	27
DouYu Intellectual Property	77
DouYu IP Agreements	77
DouYu IT Systems	25
DouYu Licensed Intellectual Property	77
DouYu Material Adverse Effect	77
DouYu Material Contract	24
DouYu Memorandum and Articles of Association	12
DouYu Owned Intellectual Property	78
DouYu Permits	18

DouYu PRC Subsidiaries	26
DouYu Record ADS Holders	55
DouYu Related Party	78
DouYu Restricted Share Unit Scheme	78
DouYu RSU Awards	78
DouYu RSU Trustee	4
DouYu SEC Reports	15
DouYu Share	4
DouYu Share Incentive Plan	78
DouYu Shareholders	1
DouYu Shareholders Meeting	78
DouYu Shares	4
DouYu Software	78
DouYu Special Committee	78
DouYu VIE Contracts	78
DouYu VIEs	78
DouYu Voting Agreement	1
DouYu Voting Agreements	1
DouYu Voting Shareholders	1
Effective Time	2
ERISA	78
Exchange Act	15
Exchange Agent	6, 10
Exchange Fund	6, 10
Exchange Ratio	4
Excluded Shares	4
Expenses	60
FCPA	19
Form F-4	52
GAAP	15
Government Official	19
Governmental Entity	17
HKIAC	75
HKIAC Rules	75
Huya	1
Huya ADSs	4
Huya Agreements	34
Huya Benefit Plan	36
Huya Board	1
Huya Class A Shares	4
Huya Class B Shares	29
Huya Closing Dividend	63
Huya Deposit Agreement	6
Huya Depositary	6
Huya Disclosure Schedule	28
Huya Dividend Record Date	63

Huya Employees	78
Huya Financial Advisor	43
Huya Financial Information	15, 32
Huya Intellectual Property	78
Huya IP Agreements	78
Huya IT Systems	42
Huya Licensed Intellectual Property	79
Huya Material Adverse Effect	79
Huya Material Contract	40
Huya Memorandum and Articles of Association	29
Huya Option	79
Huya Owned Intellectual Property	79
Huya Permits	35
Huya PRC Subsidiaries	42
Huya Related Party	79
Huya RSU Awards	79
Huya SEC Reports	31
Huya Share Incentive Plan	79
Huya Shareholders	30
Huya Shares	29
Huya Software	79
Huya Special Committee	79
Huya VIE Contracts	79
Huya VIEs	79
Indemnified Parties	57
Intellectual Property	79
IT Assets	80
Judgment	18
know	80
knowledge	80
Law	80
Lien	80
Material Adverse Effect	80
Merger	1
Merger Consideration	4
Merger Sub	1
No Vote Termination Fee	81
Non-Required Remedy	57
Notice Date	64
Off-the-Shelf Software	81
Outside Date	68
Parties	1
Per ADS Merger Consideration	4
Per Share Merger Consideration	4
Permitted Liens	81
Person	82

Plan of Merger	2
PRC	82
PRC Anti-Bribery Laws	19
PRC Regulatory Filings	82
Proceedings	18
Proxy Mailing Date	52
Proxy Statement	52
Public Software	82
Purported Dissenting Shareholder	9
Reassignment Agreement	2
Record Date	55
Registered	82
Representative	53
Required DouYu Vote	14
Review Date	16
SAFE	19
SAFE Circular 37	82
SAFE Circular 7	82
Schedule 13E-3	52
SEC	82
Section 238	9
Section 239	9
Securities Act	14
Share Issuance	52
Software	82
Specified Provisions	1
Statutory DouYu Benefit Plan	20
Statutory Huya Benefit Plan	37
Subsidiary	83
Surviving Corporation	2
Takeover Statute	60
Tax	83
Tax Group	22
Tax Returns	83
Taxes	83
Taxing Authority	83
Tencent	1
Tencent Indemnitees	64
Termination Fee	83
Transaction Agreements	83
UGC Agreements	83
Uncertificated Shares	7
US$	83
Vesting Acceleration	65
Wholly Owned DouYu Subsidiaries	13
Wholly Owned Huya Subsidiaries	30

	HUYA Inc.
	By:	/s/ Hongqiao Zhao
		Name: Hongqiao Zhao
		Title: Director

	Tiger Company Ltd.
	By:	/s/ Rongjie Dong
		Name: Rongjie Dong
		Title: Director

	DouYu International Holdings Limited
	By:	/s/ Zhaoming Chen
		Zhaoming Chen
		Chairman of Special Committee

	Nectarine Investment Limited, solely for purposes of the Specified Provisions
	By:	/s/ Ma Huateng
		Name: Ma Huateng
		Title: Director

For and on behalf of Tiger Company Ltd.:


[Name]
Director

For and on behalf of DouYu International Holdings Limited:


[Name]
Director

Wuhan DouYu	83
Wuhan Ouyue	83