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Winner Medical Announces Closing of Going Private Transaction
Date:12/12/2012

SHENZHEN, China, Dec. 12, 2012 /PRNewswire/ -- Winner Medical Group Inc. (Nasdaq: WWIN) ("Winner Medical" or the "Company"), a leading China-based exporter and retailer of high-quality medical dressings and consumer products made from 100% cotton, today announced the completion on December 11, 2012 of the merger (the "Merger") contemplated by the previously announced Agreement and Plan of Merger, dated July 24, 2012 (the "Merger Agreement") by and among the Company, Winner Holding Limited, a Cayman Islands exempted company with limited liability ("Parent"), and Winner Acquisition, Inc., a Nevada corporation and a wholly-owned subsidiary of Parent ("Merger Sub"). Under the Merger Agreement, Merger Sub merged with and into the Company with the Company surviving the Merger as a wholly-owned subsidiary of Parent.

Under the terms of the Merger Agreement, which was adopted by the Company's stockholders at a special meeting held on December 7, 2012, each share of the Company's common stock issued and outstanding immediately prior to the effective time of the Merger (the "Effective Time") was converted into the right to receive an amount in cash equal to US$4.50 without interest and less any applicable withholding taxes, except for shares held by the Company as treasury stock or owned, directly or indirectly, by Parent, Merger Sub or any wholly-owned subsidiary of the Company immediately prior to the Effective Time, including shares contributed to Parent by Mr. Jianquan Li, chairman, president, chief executive officer and secretary of the Company, and Ms. Ping Tse, Mr. Li's wife, which were cancelled without receiving any consideration. In addition, at the Effective Time: (1) each restricted stock unit of the Company ("Company RSU") pursuant to the Restricted Stock Unit Incentive Plan for the Fiscal Year 2010 – 2011 adopted by the board of directors of the Company on September
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SOURCE Winner Medical Group Inc.
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