SHENYANG, China, March 24, 2013 /PRNewswire/ -- 3SBio Inc.
(NASDAQ: SSRX) ("3SBio" or the "Company"), a leading China-based biotechnology company focused on
researching, developing, manufacturing and marketing
biopharmaceutical products, today announced that it has called an
extraordinary general meeting of shareholders (the "EGM"), to be
held at 10:00 a.m. on April 25, 2013 (Beijing time). The meeting will be held
at 15/A-D, Huaxin International Tower, No. 219, Qingnian Ave.,
Shenhe District, Shenyang 110016,
People's Republic of China, to
consider and vote on the proposal to adopt the previously announced
agreement and plan of merger dated February
8, 2013, among Decade Sunshine Limited, an exempted company
with limited liability incorporated under the laws of the
Cayman Islands ("Parent"), Decade
Sunshine Merger Sub, an exempted company with limited liability
incorporated under the laws of the Cayman
Islands and a direct wholly owned subsidiary of Parent
("Merger Sub"), and the Company (the "Merger Agreement"), pursuant
to which Merger Sub will be merged with and into the Company, with
the Company surviving the merger as a wholly-owned subsidiary of
Parent (the "Merger"). If completed, the Merger would result
in the Company becoming a privately-held company and its American
Depository Shares ("ADSs") would no longer be listed on the NASDAQ
Global Market. The Company's Board of Directors, acting upon
the unanimous recommendation of an independent committee formed by
the Board of Directors, approved the Merger Agreement and the
merger contemplated in the Merger Agreement and resolved to
recommend that the Company's shareholders vote to approve and
authorize the Merger Agreement and the merger.
Shareholders of record as of the close of business in the
Cayman Islands on April 12, 2013 will be entitled to vote at the
EGM. The record date for ADS holders entitled to instruct
JPMorgan Chase Bank, N.A., the ADS depositary, to vote the shares
represented by the ADSs is the close of business in New York City on March
25, 2013. Additional information regarding the EGM and
the Merger Agreement can be found in the Transaction Statement on
Schedule 13E-3, and the proxy statement attached as Exhibit (a)-(1)
thereto, filed with the Securities and Exchange Commission (the
"SEC"), which can be obtained from the SEC's website
(http://www.sec.gov).
INVESTORS AND SHAREHOLDERS ARE URGED TO READ CAREFULLY AND IN
THEIR ENTIRETY THESE MATERIALS AND OTHER MATERIALS FILED WITH OR
FURNISHED TO THE SEC, AS THEY CONTAIN IMPORTANT INFORMATION ABOUT
THE COMPANY, THE PROPOSED MERGER AND RELATED MATTERS.
This announcement is neither a solicitation of proxy, an offer
to purchase nor a solicitation of an offer to sell any securities
and it is not a substitute for any proxy statement or other filings
that have been or will be made with the SEC.
About 3SBio Inc.
3SBio is a leading, fully integrated, profitable biotechnology
company focused on researching, developing, manufacturing and
marketing biopharmaceutical products primarily in China. Its
focus is on addressing large markets with significant unmet medical
needs in nephrology, oncology, supportive cancer care, inflammation
and infectious diseases. With headquarters and GMP-certified
manufacturing facilities in Shenyang, PRC, 3SBio employs over 800
people. Shares trade in the form of ADSs on the NASDAQ global
market under the ticker symbol "SSRX". Please see
www.3SBio.com for more information.
For investor and media inquiries, please
contact:
Bo Tan
Chief Financial Officer
3SBio Inc.
Tel: + 86 24 2581-1820
ir@3SBio.com
Tom Folinsbee
Director of Investor Relations
3SBio Inc.
Tel: + 852 8191-6991
ir@3SBio.com
SOURCE 3SBio Inc.