ZHONGSHAN, China, June 6, 2016 /PRNewswire/ -- China Ming Yang Wind
Power Group Limited (NYSE: MY) ("Ming
Yang" or the "Company"), a leading wind energy solution
provider in China, announced today
that, at an extraordinary general meeting held today, the Company's
shareholders voted in favor of the proposal to authorize and
approve the previously announced agreement and plan of merger (the
"Merger Agreement") dated as of February 2,
2016, by and among the Company, Zhongshan Ruisheng Antai
Investment Co., Ltd ("Holdco"), Regal Concord Limited ("Parent"),
and Regal Ally Limited ("Merger Sub"), pursuant to which Merger Sub
will be merged with and into the Company with the Company
continuing as the surviving company in accordance with Cayman
Islands Companies Law (the "Merger"). If completed, the Merger
would result in the Company becoming a privately-held company,
which will be beneficially owned by the buyer group. The Company's
shareholders voted in favor of the proposal to authorize and
approve any and all transactions contemplated by the Merger
Agreement, including (i) the Merger and (ii) the amendment and
restatement of the existing memorandum and articles of association
of the Company by deletion in their entirety and the substitution
in their place of the new memorandum and articles of association
(the "Adoption of Amended M&A").
Approximately 65.6% of the Company's total outstanding ordinary
shares voted in person or by proxy at today's extraordinary general
meeting. Of these ordinary shares voted in person or by proxy at
the extraordinary general meeting, approximately 90.9% voted in
favor of the proposal to authorize and approve the Merger Agreement
and any and all transactions contemplated by the Merger Agreement,
including (i) the merger and (ii) the Adoption of Amended M&A.
A two-thirds majority of the voting power represented by the
ordinary shares of the Company present and voting in person or by
proxy at the extraordinary general meeting was required for
approving the merger.
The parties currently expect to complete the Merger as soon as
practicable and in accordance with the terms of the Merger
Agreement, subject to the satisfaction or waiver of the conditions
set forth therein. Upon completion of the Merger, the Company will
become a privately held company and its American depositary shares,
each representing one ordinary share, will no longer be listed on
any stock exchange, including the New York Stock Exchange.
About China Ming Yang Wind Power Group Limited
China Ming Yang Wind Power Group Limited (NYSE: MY) is a leading
wind energy solution provider in China, focusing on designing, manufacturing,
selling and servicing megawatt-class wind turbines, including
cutting-edge SCD (Super Compact Drive) solutions, and providing
post-sales value-added maintenance and technology upgrade services
to wind farm owners. Ming Yang
cooperates with aerodyne Energiesysteme, one of the world's leading
wind turbine design firms based in Germany, to co-develop wind turbines. In terms
of newly installed capacity, Ming
Yang was a top 10 wind turbine manufacturer worldwide and
the largest non-state owned wind turbine manufacturer in
China in 2015. For more
information, please visit Ming
Yang's investor relations website at
http://ir.mywind.com.cn.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "if," "will," "expected," and
similar statements. Forward-looking statements involve inherent
risks, uncertainties and assumptions. Risks, uncertainties and
assumptions include: the possibility that competing offers will be
made; the possibility that financing may not be available; the
expected timing of the completion of the merger; the possibility
that various closing conditions for the transaction may not be
satisfied or waived; and other risks and uncertainties discussed in
documents filed with the SEC by the Company, as well as the
Schedule 13E-3 transaction statement and the proxy statement filed
by the Company. These forward-looking statements reflect the
Company's expectations as of the date of this press release. You
should not rely upon these forward-looking statements as
predictions of future events. The Company does not undertake any
obligation to update any forward-looking statement, except as
required under applicable law.
For more information, please contact:
China Ming Yang Wind Power Group Limited
Chao Zhang
+86-760-2813-8677
ir@mywind.com.cn
http://ir.mywind.com.cn
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SOURCE China Ming Yang Wind Power Group Limited