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Social Capital Hedosophia Holdings Corp. Announces the date of the Extraordinary General Meeting to approve the combination with Virgin Galactic

NEW YORK, Jan. - The Social Capital Hedosophia Holdings Corp. ("SCH") announced today that it will hold its extraordinary general meeting ("Extraordinary General Meeting") on October 23, 2019 at 12:30 p.m. Eastern Time to discuss, among other things, the previously announced business combination (the "Business Combination") TSC Vehicle Holdings, Inc., Virgin Galactic Vehicle Holdings, Inc. and V4GH, LLC (collectively "Virgin Galactic", and together with Vieco USA, Inc. and Vieco 10 Limited "VG"). The Extraordinary General Meeting will take place at The Westin Palo Alto, 675 El Camino Real, Palo Alto, CA 94301, USA.

The meeting is scheduled for October 23, 2019

Shareholders registered after close of business on September 16, 2019 have the right to receive notification of the extraordinary general meeting and to vote therein. In connection with the Extraordinary General Meeting, SCH Shareholders who wish to exercise their redemption rights must do so before 5:00 p.m. Eastern Time on October 21, 2019 in accordance with the procedures set out in the final proxy declaration / prospectus for the Extraordinary General Meeting.

In connection with the completion of the business combination, SCH intends to change its name to "Virgin Galactic Holdings, Inc." and request the continued listing of its shares, common stocks and warrants on the NYSE under the symbols "SPCE.U", "SPCE" and "SPCE WS".

Information on SCH

SCH is a partnership between the investment companies Social Capital and Hedosophia. SCH brings together technologists, entrepreneurs and technology-oriented investors who share a common vision for identifying and investing in innovative and agile technology companies. You can find more information about SCH at www.socialcapitalhedosophiaholdings.com.

Information on Virgin Galactic

Virgin Galactic is a vertically integrated aerospace company recognized as a pioneer in human spaceflight for individuals and researchers. They believe that commercial space exploration is one of the most exciting and significant technology initiatives of our time. This commercial exploration is based on their mission to transport people into space and get them back to Earth safely on a routine, consistent and affordable basis. With their proprietary and reusable technologies and supported by a distinctive customer experience from the Virgin brand, they are developing a space system that offers customers a unique, multi-day experience. It culminates in a space flight that includes several minutes of weightlessness and a view of the earth from space. The development is in the final phase after two manned flights into space have already been carried out. The first commercial launch is planned for 2020.

Additional information and where to find it

This press release relates to a proposed transaction between Virgin Galactic and SCH. This press release on Form 8-K does not constitute an offer to sell or exchange any securities or the solicitation of an offer to buy or exchange any securities, nor may any such sale of securities take place in any jurisdiction in which such an offer is made , such sale or exchange would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

In connection with the planned transactions, on August 7, 2019, SCH submitted a registration declaration on Form S-4 (as amended, the "Registration Declaration") to the U.S. Securities and Exchange Commission (the "SEC") filed (File Number 333-233098) which contains a preliminary proxy statement / prospectus. This means that both the power of attorney to be sent to the SCH shareholders in connection with the SCH shareholders' invitation to vote in relation to the proposed transaction, as described in the registration declaration, and the prospectus on the offer the securities to be issued to SCH Securityholders in connection with the proposed "Domestication" of SCH as a Delaware corporation in connection with the Proposed Transaction as described in the Registration Statement. The registration declaration was declared effective on October 9, 2019 and SCH will begin to send its shareholders the final power of attorney / prospectus and other relevant documents on or about October 11, 2019. SHAREHOLDERS AND OTHER SECURITY HOLDERS OF SCH ARE RECOMMENDED TO READ THE REGISTRATION DECLARATION, THE POWER OF AGREEMENT AND THE PROSPECTUS, AS WELL AS ALL OTHER RELEVANT DOCUMENTS THAT MADE IN CONNECTION WITH THE INFORMATION, SUBMITTED TO, OR SUBMITTED TO THE TRANSDUCTION . Investors and security holders can obtain free copies of the registration statement, power of attorney / prospectus, and any other relevant documents held by SCH (if available) with the SEC through the SEC's website at http://www.sec.gov have been or will be submitted.

Documents filed by SCH with the SEC (if available) can also be obtained free of charge from SCH's website at http://www.socialcapitalhedosophiaholdings.com/docs.html or upon written request to 120 Hawthorne Avenue Palo Alto, California 94301, USA become.

Participants in the recovery

In connection with the proposed transaction, SCH and its directors and officers may be regarded as participants in the solicitation of powers of attorney by the shareholders of SCH. Information about SCH directors and officers and their ownership of SCH's securities is contained in SCH's filings with the SEC, including (i) the Annual Report on Form 10-K filed March 18, 2019, and (ii) the registration declaration.

Additional information about the interests of these persons and others who may be considered to be a participant in the proposed transaction can be found in the power of attorney / prospectus for the proposed transaction as it becomes available. You can obtain free copies of these documents as described in the previous paragraph.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of federal securities laws with respect to the proposed transaction between VG and SCH, including statements about the benefit of the transaction, the anticipated timing of the transaction, and the products and markets and expected performance of VG. These forward-looking statements are generally identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," " "," "should", "will", "would", "likely", "will continue", "will likely lead to" and similar terms may be identified. Forward-looking statements are predictions, forecasts and other statements about future events that are based on current expectations and assumptions and are therefore subject to risks and uncertainties. The above list of factors is not exhaustive. You should consider the foregoing factors and the other risks and uncertainties discussed in the "Risk Factors" section of the SCH Annual Reports on Form 10-K, the Quarterly Reports on Form 10-Q, the Registration Statement, and other documents submitted by SCH from time to time filed with the SEC should be considered carefully. These documents identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those in the forward-looking statements. Forward-looking statements relate only to the day on which they are made. Readers are cautioned not to place undue reliance on forward-looking statements and VG and SCH assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. Neither VG nor SCH give any assurance that VG or SCH will meet their expectations.

For media inquiries, please contact:


Jonathan Gasthalter / Carissa Felger / Nathaniel Garnick
Guest owners & Co.
+1 (212) 257-4170 [email protected]