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Ming Yang Board Forms Special Committee to Evaluate the November 2 Proposal to Acquire the Company


China Ming Yang Wind Power Group Limited (NYSE: MY) today announced that its Board of Directors (the "Board") has formed a special committee of independent directors (the "Special Committee") to evaluate the preliminary non-binding proposal letter dated November 2, 2015 from its Chairman and Chief Executive Officer, Mr. Chuanwei Zhang, to acquire all of the Company's outstanding shares not already beneficially owned by him (the "Proposal").

The Special Committee is composed of Messrs. Dabing Zhou and Steve Markscheild, who are independent directors of the Company and are unaffiliated with the Proposal. Mr. Zhou is the chairman of the Special Committee. The Special Committee expects to retain independent advisors, including an independent financial advisor and legal counsel, to assist it in the process of reviewing and evaluating the Proposal.

The Company cautions its shareholders and others considering trading its securities that neither the Board nor the Special Committee has made any decisions with respect to the Company's response to the Proposal. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this

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Posted-In: M&A News Management Press Releases

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