SHENZHEN, China, Feb. 25, 2011 /PRNewswire-Asia/ -- Tongjitang
Chinese Medicines Company ("Tongjitang" or the "Company"; NYSE:
TCM), announced that it has called an extraordinary general meeting
of shareholders (the "EGM"), to be held at 10:00 a.m. (China time) on Thursday, March 31, 2011, at the Company's
offices at 5th Floor, Block B, Nanshan Medical Device Park, 1019
Nanhai Avenue, Nanshan District, Shenzhen, 518067 Guangdong Province,
the People's Republic of China, to
consider and vote on 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. If the merger is
completed, Tongjitang will continue its operations as a
privately-held company owned solely by Hanmax and Fosun.
Shareholders of record as of the close of business on Thursday, March 17, 2011 will be entitled to vote
at the EGM. The record date for ADS holders is February 23, 2011. 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 99(a)(1) thereto, filed with the Securities and
Exchange Commission ("SEC"), which can be obtained free of charge
through the SEC's website – www.sec.gov.
About Tongjitang Chinese Medicines Company
Tongjitang 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 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
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ICR, Inc.
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Christine Duan or Ashley M.
Ammon
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203-682-8200 (Investor
Relations)
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SOURCE Tongjitang Chinese Medicines Company