Exceed Company has once again announced a postponement of the extraordinary shareholders' meeting to vote on a merger agreement that would lead to its chairman and chief executive, Shuipan Lin, taking over 64 percent control of the company, which trades in China under the Xidelong brand. First proposed last Dec. 2, the action was already rescheduled from April 16 to July 29 because Lin needed additional time to obtain the necessary financing. The company did not yet announce a new date this time, saying that the meeting would be held “as soon as practicable” after confirmation from Lin that the required financing is on deposit in an account outside the People's Republic of China and available at the closing of the transaction.

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