NEW YORK, NY and BEIJING, CHINA / ACCESSWIRE / July 12, 2017 / The Laurel Hill Advisory Group congratulates our client, China Biologic Products, Inc. (CBPO), on the successful outcome of their annual meeting of shareholders held on Friday, June 30, 2017 (Beijing time).
Despite recommendations to vote 'Against' by Institutional Shareholder Services and Glass Lewis, stockholders approved and adopted the agreement and plan of merger by and between the Company and China Biologic Products Holdings, Inc., an exempted company incorporated under the laws of the Cayman Islands and a wholly-owned subsidiary of the Company, pursuant to which the Company will merge with and into China Biologic Products Holdings, Inc.
Yin Ming, Senior Vice President of Investor Relationship of the Company, commented, 'We are very pleased to work with the Laurel Hill team to be able to convince our shareholders that the economic benefits with merging into a Cayman company would significantly overweigh the governance impact, which we tried to keep at a minimum level. This move is critical to secure CBPO's sustainable growth in Chinese plasma product market for the long-run.'
The Company is proceeding with the completion of the transaction and expects the merger to become effective during the third quarter of 2017.
'We are proud to have assisted on this re-domicile (reincorporation) transaction and to drive the desired result for China Biologic Products, Inc. It was a pleasure to work with the entire team who were committed to doing everything necessary to getting this transaction completed,' added Laurel Hill Senior Vice President, John O'Grady.
Laurel Hill Advisory Group
SOURCE: The Laurel Hill Advisory Group
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