Updated on 24 May 2013
Good to go - 3SBio shareholders are in favor of plan of merger
Singapore: The shareholders of China-based 3SBio have voted at an extraordinary general meeting (EGM) in favor of a proposal to authorize and approve the previously announced agreement and plan of merger dated February 8, 2013, among Decade Sunshine and Decade Sunshine Merger Sub.
Approximately 91.38 percent of the company's total outstanding ordinary shares and voting restricted shares were voted in person or by proxy at the EGM.
Out of the shares voted in person or by proxy at the EGM, approximately 87.20 percent were voted in favor of the proposal to authorize and approve the amended merger agreement and the transactions contemplated thereby, including the merger, and approximately 87.20 percent were voted in favor of the proposal to authorize and approve the directors of the company to do all things necessary to give effect to the amended merger agreement.
The parties expect to complete the merger as soon as practicable, subject to the satisfaction or waiver of the conditions set forth in the amended merger agreement. Upon completion of the merger, the company will become a privately-held company and its American depository shares will no longer be listed on the NASDAQ Global Market.