China GrenTech Announces Shareholders' Approval of the Merger Agreement
China GrenTech Corporation Limited (NASDAQ: GRRF) announced today that, at an extraordinary general meeting of shareholders held today, the Company's shareholders voted in favor of the proposal to approve the previously announced amended and restated agreement and plan of merger dated January 20, 2012, among Talenthome Management Limited ("Parent"), a British Virgin Islands exempted company, Xing Sheng Corporation Limited ("Merger Sub"), a Cayman Islands exempted company wholly-owned by Parent, and the Company (the "Merger Agreement"), pursuant to which Merger Sub will merge with and into the Company, with the Company continuing as the surviving company and wholly-owned by Parent.
Approximately 81.6% of the Company's total outstanding ordinary shares voted in person or by proxy at the EGM. Of the ordinary shares voted in person or by proxy at the EGM, approximately 95.1% were voted in favor of the proposal to approve the Merger Agreement and the transactions contemplated by the Merger Agreement, including the merger, and approximately 95.1% were voted in favor of the proposal to authorize the directors of the Company to do all things necessary to give effect to the Merger Agreement.
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