BEIJING, Nov. 10, 2016 (GLOBE NEWSWIRE) -- eFuture Holding Inc. ("eFuture" or the "Company") (NASDAQ:EFUT), a leading software and solution provider and a mobile business enabler to China's retail and consumer goods industries, today announced that it has called an extraordinary general meeting of shareholders (the "EGM"), to be held at 10 a.m. Beijing Time on December 20, 2016, at the Company's offices at Room A1103, A1105, A1106-07, Building A, Chengjian Plaza, No. 18 Beitaipingzhuang Road, Beijing, 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 (the "Merger Agreement") dated September 23, 2016, by and among Shiji (Hong Kong) Limited ("Parent"), eFuture CI Limited ("Merger Subsidiary"), a wholly-owned subsidiary of Parent, and the Company, the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands, substantially in the form attached as Appendix I to the Merger Agreement (the "Plan of Merger") and the transactions contemplated thereby (including the Merger, as defined below). Pursuant to the Merger Agreement and the Plan of Merger, Merger Subsidiary will merge with and into the Company (the "Merger"), with the Company continuing as the surviving company and a wholly-owned subsidiary of Parent in accordance with Cayman Islands Companies Law. If completed, the Merger will result in the Company becoming a privately held company. eFuture's ordinary shares (the "Shares") will no longer be listed on NASDAQ Capital Market. In addition, the Shares will cease to be registered under Section 12 of the Securities Exchange Act of 1934. The special committee, composed solely of independent directors, acting with full power and authority delegated by the board of directors of the Company, unanimously approved and authorized the Company entering into the Merger Agreement, the Plan of Merger and the transactions contemplated thereby (including the Merger) and resolved to recommend that the Company's shareholders vote FOR, among other things, the proposal to authorize and approve the Merger Agreement, the Plan of Merger, and the transactions contemplated thereby (including the Merger).