SHENZHEN, China, April 16, 2012 /PRNewswire-Asia/ -- China
GrenTech Corporation Limited (NASDAQ: GRRF, "GrenTech," or the
"Company"), a leading China-based
provider of radio frequency and wireless coverage products and
services, announced today that, at an extraordinary general meeting
of shareholders held today (the "EGM"), 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.
The parties expect to complete the merger as soon as
practicable, subject to the satisfaction or waiver of the
conditions set forth in the Merger Agreement. If completed,
the merger would result in the Company becoming a privately held
company wholly-owned by Parent and the Company's American
depositary shares would no longer be listed on the NASDAQ Global
Select Market.
About China GrenTech
GrenTech is a leading developer of radio frequency ("RF")
technology in China and a leading
provider of wireless coverage products and services in China.
The Company uses RF technology to design and manufacture wireless
coverage products, which enables telecommunications operators to
expand the reach of their wireless communication networks to indoor
and outdoor areas such as buildings, highways, subways, tunnels and
remote regions. China GrenTech's wireless coverage services
include design, installation and project warranty services.
The Company also tailors the design and configuration of its
wireless coverage products to the specific requirements of its
customers.
Based on its in-house RF technology platform, the Company also
develops and produces base station RF parts and components sold to
base station manufacturers. GrenTech is a qualified supplier
of RF parts and components to major global and domestic base
station manufacturers. For more information, please visit
www.GrenTech.com.cn.
Company
Contact:
Xin
Lian, Senior Manager
China
GrenTech Corp. Ltd.
Tel: +86
755 2650 3007
E-mail:
investor@powercn.com
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SOURCE China GrenTech Corporation Limited