Laurel Hill Congratulates China Biologic Products, Inc. for Receiving Overwhelming Shareholder Support for its Redomicile from Delaware to the Cayman Islands at the Annual Meeting
NEW YORK, NY and BEIJING, CHINA / ACCESSWIRE / July 12, 2017 / The Laurel Hill Advisory Group congratulates our client, China Biologic Products, Inc. (CBPO), on the successful outcome of their annual meeting of shareholders held on Friday, June 30, 2017 (Beijing time).
Despite recommendations to vote 'Against' by Institutional Shareholder Services and Glass Lewis, stockholders approved and adopted the agreement and plan of merger by and between the Company and China Biologic Products Holdings, Inc., an exempted company incorporated under the laws of the Cayman Islands and a wholly-owned subsidiary of the Company, pursuant to which the Company will merge with and into China Biologic Products Holdings, Inc.
Yin Ming, Senior Vice President of Investor Relationship of the Company, commented, 'We are very pleased to work with the Laurel Hill team to be able to convince our shareholders that the economic benefits with merging into a Cayman company would significantly overweigh the governance impact, which we tried to keep at a minimum level. This move is critical to secure CBPO's sustainable growth in Chinese plasma product market for the long-run.'
The Company is proceeding with the completion of the transaction and expects the merger to become effective during the third quarter of 2017.
'We are proud to have assisted on this redomicile (reincorporation) transaction and to drive the desired result for China Biologic Products, Inc. It was a pleasure to work with the entire team who were committed to doing everything necessary to getting this transaction completed,' added Laurel Hill Senior Vice President, John O'Grady.
About Laurel Hill
The Laurel Hill Advisory Group is the only independent provider of Shareholder Communication and Asset Recovery Services in North America. Our team of knowledgeable and experienced professionals offer first rate cross border capabilities that specialize in Annual Meeting Solicitation, Information Agent services, Corporate Actions, Special Meeting Solicitation and Shareholder Asset Recovery Programs. Our Asset Recovery Center provides a comprehensive and effective solution for companies looking to reunite with their past or 'lost' holders. Laurel Hill Securities, our Broker Dealer, and Laurel Hill Depositary services provide cost effective Tender Offer services. For more information, please visit us at www.laurelhill.com.
Laurel Hill Advisory GroupJohn O'Grady516.email@example.com
SOURCE: The Laurel Hill Advisory Group
12.07.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English
Company: The Laurel Hill Advisory Group
United States End of News DGAP News Service