Ascendent Wins Overwhelming Shareholder Support to Acquire Hollysys for US$26.50 Per Share

HONG KONG, Feb. 8, 2024 /PRNewswire/ -- Ascendent Capital Partners ("Ascendent"), a private equity investment management firm managing assets for global institutional investors, is pleased to note that Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") has announced the voting results of the Company's Extraordinary General Meeting ("EGM") held today. The EGM concluded with the overwhelming majority of Hollysys shareholders approving all resolutions, including the resolution pursuant to which Ascendent will acquire all outstanding shares of Hollysys that it does not currently own for US$26.50 per share in cash.

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