CHINA GRENTECH CORP LTD (ADR) 
By
SHEN ZHEN, CHINA - March 26, 2012 - C hina GrenTech
Corporation Limited (NASDAQ : GRRF, "GrenTech," or the
"Company"), a leading C hina-based provider of radio
frequency and wireless coverage products and services,
announced today that it has received from Mr. Yingjie Gao,
the Company's C hairman and C hief Executive O fficer, an
executed copy of a facility agreement relating to
HK$320,000,000 term loan facility (the "Facility Agreement")
dated
March 26, 2012 between Talenthome Management Limited
("Parent") and Guotai Junan F inance
(Hong Kong) Limited ("Guotai Junan"), in accordance with the
terms of the previously announced amended and restated
agreement and plan of merger dated January 20, 2012, among
Parent, Xing S heng Corporation Limited ("Merger Sub "), a
company wholly-owned by Parent, and the Company (the "Merger
Agreement"), pursuant to which Merger S ub will merge with
and into the Company, with the Company continuing as the
surviving company and wholly-owned
by Parent.
Pursuant to the terms of the Facility Agreement, Guotai Junan
promised to make available to Parent a loan in a principal
amount of HK$320,000,000 to fund a portion o f the offer
price of the merger, subject to certain conditions. A copy of
the Facility Agreement was filed as an exhibit
to the Schedule 13D/A filed by, among others, Mr. Yingjie
Gao, Ms. Rong Yu and Ms. Yin
Huang with the Securities and Exchange Commission (the "S
EC") on March 26, 2012.
The merger contemplated in the Merger Agreement is subject to
the approval by an affirmative vote of shareholders
representing two-thirds or more of the ordinary shares
present and voting in person or by proxy at an extraordinary
general meeting of shareholders to be held by the Company on
April 16, 2012, as previously announced. If completed, the
merger would result in the Company becoming a privately- held
company and its American depositary shares would no longer be
listed on the NAS DAQ Global Select Market.
This announcement is neither a solicitation of proxy, an
offer to purchase nor a solicitation of an offer to sell any
securities and it is not a substitute for any proxy statement
or other filings that have been or will be made with the S
EC.
GrenTech is a leading developer of radio frequency ("RF ")
technology in C hina and a leading provider of wireless
coverage products and services in C hina. The Company uses RF
technology to design and manufacture wireless coverage
products, which enables telecommunications operators to
expand the reach of their wireless communication networks to
indoor and outdoor areas such as buildings, highways,
subways, tunnels and remote regions. China GrenTech's
wireless coverage services include design, installation and
project warranty services. The Company also tailors the
design and configuration of its wireless coverage products to
the
specific requirements of its customers.
Based on its in- house RF technology platform, the Company
also develops and produces base station RF parts and
components sold to base station manufacturers. GrenTech is a
qualified supplier of RF parts and components to major global
and domestic base station manufacturers. For more
information, please visit www. Gre nTec h.co m.c
n.
Company Contact:
China GrenTech Corp. Ltd.
Tel: +86 755 2650 3007
E- ma il: investo r@powerc n. co m
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| This press release was issued by China Grentech Corporation Limited and was initially posted at http://www.grentech.com.cn/upload/9/pdf/03_26_2012_power.pdf . It was distributed, unedited and unaltered, by noodls on 2012-03-26 23:09:37 PM. The issuer is solely responsible for the accuracy of the information contained therein. |
