Charm Communications Special Committee Names Advisers to Evaluate 'Going Private' Proposal
Charm Communications (NASDAQ: CHRM) announced today that the special committee of the Company's board of directors (the "Special Committee"), consisting of independent directors Mr. Zhan Wang, Mr. Andrew J. Rickards and Mr. Gang Chen, has retained China Renaissance Securities (Hong Kong) Limited as its financial advisor and Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP ("Gunderson Dettmer") as its legal advisor.
China Renaissance Securities (Hong Kong) Limited and Gunderson Dettmer will assist the Special Committee in reviewing and evaluating the preliminary non-binding proposal received by the Company's board of directors on September 30, 2013 from Mr. He Dang, the chairman of the board of directors, Merry Circle Trading Limited, a British Virgin Islands company controlled by Mr. Dang ("Merry Circle"), Honour Idea Limited, a British Virgin Islands company owned by Mr. Dang ("Honour Idea" and, collectively with Merry Circle, the "Founder Shareholders"), and CMC Capital Partners HK Limited (collectively with the Founder Shareholders, the "Consortium") to acquire all of the outstanding shares of the Company not currently owned by the Founder Shareholders in a "going private" transaction (the "Proposal"). China Renaissance Securities (Hong Kong) Limited