Navigation Links
Tongjitang Chinese Medicines Company Shareholders Vote to Approve Merger
Date:3/31/2011

SHENZHEN, China, March 31, 2011 /PRNewswire-Asia-FirstCall/ -- Tongjitang Chinese Medicines Company ("Tongjitang" or the "Company"; NYSE: TCM), announced today that, at an extraordinary general meeting held today, the Company's shareholders voted in favor of the proposal to adopt the previously disclosed Agreement and Plan of Merger, dated as of October 29, 2010, as amended on February 21, 2011 (the "Merger Agreement"), among Tongjitang, Hanmax Investment Limited ("Hanmax"), Fosun Industrial Co., Limited ("Fosun"), and Tonsun International Company Limited ("Merger Sub"), a company owned by Hanmax and Fosun, pursuant to which Merger Sub will be merged with and into Tongjitang with Tongjitang being the surviving corporation. Of the ordinary shares voted at the extraordinary general meeting, approximately 99.68% were voted in favor of the proposal to adopt the Merger Agreement.

If the merger is completed as the parties expect, Tongjitang will continue its operations as a privately-held company owned solely by Hanmax and Fosun. The parties currently expect the merger to close in April 2011.

About Tongjitang Chinese Medicines CompanyTongjitang Chinese Medicines Company, through its operating subsidiaries Guizhou Tongjitang Pharmaceutical Co., Ltd., Guizhou Long-Life Pharmaceutical Company Limited, Qinghai Pulante Pharmaceutical Co., Ltd. and Anhui Jingfang Pharmaceutical Co., Ltd., is a vertically integrated specialty pharmaceutical company focused on the development, manufacturing, marketing and selling of modernized traditional Chinese medicine in China. Tongjitang's principal executive offices are located in Shenzhen, China.

Tongjitang's flagship product, Xianling Gubao, is the leading traditional Chinese medicine for the treatment of osteoporosis in China as measured by sales in Renminbi. In addition to Xianling Gubao, the Company manufactures and markets 35 other modernized traditional Chinese medicine products and 36 western medicines. Please visit www.tongjitang.com for more information.

Safe Harbor Statements This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. Information regarding these risks, uncertainties and other factors is included in the Company's most recent annual report on Form 20-F, the Company's notice of extraordinary general meeting and proxy statement filed as exhibits to the Schedule 13E-3 transaction statement regarding the proposed merger and other filings with the SEC. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.CONTACT ICR, LLCAshley M. Ammon203-682-8200 (Investor Relations)
'/>"/>

SOURCE Tongjitang Chinese Medicines Company
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Tongjitang Chinese Medicines Company Reports Fourth Quarter and Full Year 2010 Financial Results
2. Tongjitang Chinese Medicines Company to Announce Fourth Quarter and Full Year 2010 Financial Results
3. Tongjitang Chinese Medicines Company Announces Extraordinary General Meeting of Shareholders
4. Tongjitang Chinese Medicines Enters into Merger Agreement with Tonsun International Company Limited, Hanmax Investment Limited and Fosun Industrial Co., Limited
5. Tongjitang Chinese Medicines Company Announces Resignation of CFO, Effective December 2, 2010
6. Tongjitang Chinese Medicines Company Reports Second Quarter 2010 Financial Results
7. Tongjitang Files 2009 Annual Report on Form 20-F
8. Tongjitang Chinese Medicines Company Reports First Quarter 2010 Financial Results
9. Tongjitang Chinese Medicines Acquires Guiyang Liquor Factory
10. Newtech, Inc., a Leading Chinese EMS Patient Monitoring Company, Partners With Masimo to Incorporate rainbow® SET Noninvasive Measurement Capabilities Into New Patient Monitors
11. Chinese Army Established the First Chest Pain Rescue Network in China by Using IVT mHealth System
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/10/2016)... CERS ), Medivation, Inc. (NASDAQ: ... Celldex Therapeutics, Inc. (NASDAQ: CLDX ). --> ... Inc. (NASDAQ: ADMS ) and Celldex Therapeutics, Inc. (NASDAQ: ... Designations become vitally important in the development of targeted treatment ... biologics which are defined as those intended for the safe ...
(Date:2/10/2016)... , February 10, 2016 Antibacterial Drugs ... Forecast 2015 - 2023 ", reveals that the global antibacterial ... from 2015 to 2023 owing to patent expiries of blockbuster ... of 1.30% during the forecast period, the value is anticipated ... in 2023. --> Antibacterial Drugs Market - Global ...
(Date:2/10/2016)... February 10, 2016 --> ... research report "Pharmaceutical Packaging Equipment Market by Package Type ... Serialization), by Product Type (Tablet, Powder, Cream, Syrup, Aseptic ... MarketsandMarkets, studies the global market during the forecast period of ... at a CAGR of 6.9% during the forecast period ...
Breaking Medicine Technology:
(Date:2/10/2016)... ... February 10, 2016 , ... Ongoing news of the ravages of traumatic ... to conduct a survey that takes a closer look at cases of TBI being ... and causes of TBI among the aging population, and identifies the challenges associated with ...
(Date:2/10/2016)... ... February 10, 2016 , ... Armune BioScience signed ... their network of laboratory service centers across the country. Launched in April of 2015, ... the detection of prostate cancer. Apifiny order volume exceeded 3,000 tests in 2015. Primary ...
(Date:2/10/2016)... ... February 10, 2016 , ... The Club at ... the prestigious Distinguished Emerald Club of the World award, as determined by the ... of the most respected trade publications serving private clubs. , “We’d like to ...
(Date:2/10/2016)... ... 10, 2016 , ... Workrite Ergonomics, who is celebrating their 25th year of ... to being an internationally recognized leader in their industry. , "We are very proud ... President of Workrite. “Workrite recognized the importance of good ergonomics before most of ...
(Date:2/10/2016)... ... February 09, 2016 , ... Ross A. ... are delighted to welcome a new addition to their growing practice. Beginning this ... as a nurse practitioner performing cosmetic procedures including injectables, fillers and ...
Breaking Medicine News(10 mins):