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3SBio Inc. Announces Receipt of Amended "Going Private" Proposal at $16.70 Per ADS and Intent to Adjourn Extraordinary General Meeting of Shareholders
Date:4/22/2013

, 2012 that it had received a "going private" proposal from Dr. Lou and CITIC PE.  The Proposal Letter states that Dr. Lou and CITIC PE are working with their debt financing source and anticipate obtaining their approval for Dr. Lou and CITIC PE's proposed increase in the merger consideration prior to April 25, 2013, that part of the increase of the merger consideration will be financed through an increase in the amount of convertible note financing from CITIC PE, that Dr. Lou and CITIC PE do not require any changes to any other terms and conditions of the Merger Agreement other than to adjust the amount of available Company cash as of the closing date to cover a portion of the increase of the merger consideration and that, if approved by the Independent Committee, Dr. Lou and CITIC PE expect the Company to enter into an amendment to the Merger Agreement and to adjourn the extraordinary general meeting currently scheduled to be held at 10:00 a.m. on April 25, 2013 to a later date to provide for sufficient time for the shareholders to consider and vote on the amended  Merger Agreement.  The Proposal Letter further indicates that Dr. Lou and CITIC PE have no intention to further revise and negotiate the terms of the proposed transaction.   

The Independent Committee will consider the Proposal Letter with its legal and financial advisors.  In light of the Proposal Letter, the Company intends to convene the extraordinary general meeting of shareholders currently scheduled to be held on April 25, 2013, but immediately adjourn the meeting without conducting any business to allow additional time for the Independent Committee to consider the Proposal Letter and provide updated information to shareholders regarding the proposed amendment to the Merger Agreement.  No vote will be taken on April 25, 2013 for any resolution set forth in the notice of the extraordinary general meeting dated March 25, 2013.  The Company intends to re
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