BEIJING, Dec. 13 /PRNewswire-Asia/ -- eFuture Information Technology Inc. (Nasdaq: EFUT) ("eFuture" or "the Company"), a leading provider of software and services in China’s retail and consumer goods industries, is pleased to announce the results of its 2008 Annual General Meeting of Shareholders ("the Meeting") held on December 12, 2008. All but one of the proposals submitted for shareholder approval at the Meeting were approved.
Specifically, shareholders approved:
-- The election of Mr. Adam Yan and Mr. John Dai as directors of the
Company;
-- The ratification of the appointment of Grant Thornton LLP as
independent auditors of eFuture Information Technology Inc. for the
fiscal year ending December 31, 2008;
-- The authorization of the Company to repurchase up to fifteen percent
(15%) of its issued and outstanding ordinary shares, subject to
compliance with the company’s other contractual obligations;
-- And the change of the Company’s name from "e-Future Information
Technology Inc." to "eFuture Information Technology Inc."
The shareholders did not approve the 2008 Share Incentive Plan ("the Plan"). Because the Plan was not approved, the options granted on March 31, 2008, which were subject to shareholder approval of the Plan, have been cancelled automatically.
Management’s presentation from the Meeting and additional information about the Company are available on the Investor Relations section of the Company’s website at
http://www.e-future.com.cn/ENG/fjshow.asp?id=89&title=Investor+Kit .
About eFuture Information Technology Inc.
eFuture Information Technology Inc. (NASDAQ: EFUT) is a leading provider of software and services in China’s rapidly growing retail and consumer goods industries. eFuture provides integrated software and services to manufacturers, distributors, wholesalers, logistics companies and retailers in China’s front-end supply chain market, especially in the retail and fast moving consumer goods ("FMCG") industries. eFuture currently serves more than 1,000 clients, including 15 Fortune 500 companies, over 950 retailers and over 200 distributors operating in China. eFuture is one of IBM’s premier business partners in Asia Pacific and is a strategic partner with Oracle, Microsoft, JDA, Motorola and Samsung Network China. eFuture has over 600 employees and 20 branch offices across China.
For more information about eFuture, please visit
http://www.e-future.com.cn/ .
