Assets Purchase via Private Placement Approved
On 20 Nov 2008 at the sixth Meeting of the third Board of Supervisors, a proposal to purchase certain assets via private placement was reviewed and approved.
The board of supervisors asserts that this transaction will help the company
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avoid potential competition
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strengthen its long-term competitiveness and
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promote its sustained development.
This transaction price is fair and reasonable and in line with the interests of its shareholders. In addition, voting procedures for this transaction were valid, lawful and in compliance with relevant laws and regulations.
Board of Supervisors
27 Nov 2008
Source: Securities Times
Date: 24 Nov 2008
CN01/BJ/JL/VW/JW
