HANGZHOU, China, Oct. 12, 2016 (GLOBE NEWSWIRE) -- Sky-mobi Limited ("Sky-mobi" or the "Company") (Nasdaq:MOBI), a mobile application platform and game publisher in China, today announced that it has called an extraordinary general meeting of shareholders (the "EGM"), to be held on November 16, 2016 at 10:00 a.m. (Beijing time), at 10/F, Building B, United Mansion, No. 2 Zijinghua Road, Hangzhou, Zhejiang, People's Republic of China, to consider and vote on, among other things, the proposal to authorize and approve the previously announced agreement and plan of merger, dated August 22, 2016 (the "Merger Agreement"), among the Company, Amber Shining Investment Limited ("Parent"), an exempted company with limited liability incorporated under the laws of the Cayman Islands, and Power Rich Limited ("Merger Sub"), an exempted company with limited liability incorporated under the laws of the Cayman Islands and a wholly owned subsidiary of Parent, and the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands, substantially in the form attached as Annex A to the Merger Agreement (the "Plan of Merger") and the transactions contemplated thereby, including the Merger (as defined below). Pursuant to the Merger Agreement, Merger Sub will be merged with and into the Company with the Company continuing as the surviving company and becoming a wholly owned subsidiary of Parent (the "Merger"). If consummated, the Merger would result in the Company becoming a privately-held company and its American depositary shares (the "ADSs") would no longer be listed on the NASDAQ Global Market and the ADS program would be terminated. The Company's board of directors, acting upon the unanimous recommendation of the special committee of the Company's board of directors, recommends that the shareholders and ADS holders vote FOR, among other things, the proposal to approve the Merger Agreement, the Plan of Merger and the transactions contemplated thereby, including the Merger.