Ponos Industries Amends Tender Offer for up to 1,000,000 American Depositary Shares of Alibaba Group Holdings Limited

NEW YORK - May 14, 2021 - PRLog -- Ponos Industries ("Purchaser") announces an amendment to its previously-announced tender offer (the "Offer") to acquire up to 1,000,000 American Depositary Shares (the "Shares") of Alibaba Group Holdings Limited for $225.00 per Share (the "Offer Price"). The purchase price included in the Offer was previously $290.00 per Share. All other terms and conditions of the Offer remain unchanged.

Shareholders who have already tendered their Shares do not have to re-tender their Shares or take any other action due to the change in Offer Price.  Any such shareholders who have tendered their Shares may withdraw such Shares at any time prior to 5:00 p.m., New York City time, on Wednesday, December 1, 2021 (the "Expiration Date"), in accordance with the terms of the Offer to Purchase, dated November 13, 2020 (the "Offer to Purchase").

The Offer is subject to closing conditions set forth in the Offer to Purchase, including the closing price of the Shares on the NYSE on the last full trading day prior to the Expiration Date exceeding the Offer Price and Purchaser obtaining financing necessary to fund Purchaser's financial obligations arising from the Offer.

This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell shares or any other securities. The Offer to Purchase American Depositary Shares of Alibaba Group Holdings Limited is only being made pursuant to the Offer to Purchase and the related letter of transmittal with respect to the Offer, as such documents may be supplemented and amended from time to time. Shareholders are urged to read these materials carefully because they contain important information, included the terms and conditions of the Offer, that shareholders should consider before making any decision regarding tendering their Shares. Shareholders can obtain a copy of the Offer to Purchase and the related letter of transmittal with respect to the Offer by contacting the information agent at (888) 422-4311 OR infoagent@ponoscapital.com. Copies of these materials and any documentation relating to the Offer are not being, and must not be, directly or indirectly, mailed or otherwise forwarded, distributed or sent in, into or from any jurisdiction where to do so would be unlawful.

Ponos Industries is a private investment company that specializes in investing in publicly traded securities whose value it expects to appreciate over a 12-month period.

Forward Looking Statements

Statements included in this press release that are not historical facts are forward-looking statements, which involve a number of risks and uncertainties and are subject to change at any time.  While Purchaser may elect to update forward-looking statements in the future, Purchaser specifically disclaims any obligation to do so, even if estimates change and, therefore, you should not rely on these forward-looking statements as representing our views as of any date subsequent to today.
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