SHENYANG, China, April 25, 2013 /PRNewswire/ -- 3SBio Inc.
(NASDAQ: SSRX) ("3SBio" or the "Company"), a leading China-based biotechnology company focused on
researching, developing, manufacturing and marketing
biopharmaceutical products, today announced that, at the duly
convened extraordinary general meeting of shareholders ("EGM") held
at 10:00am Beijing time on April
25, 2013, Dr. Jing Lou, as
the chairman of EGM, declared that EGM be adjourned to a later date
as soon as practicable in order to allow additional time for the
Company to provide updated information to the shareholders
regarding the Agreement and Plan of Merger, dated as of
February 8, 2013, by and among Decade
Sunshine Limited, Decade Sunshine Merger Sub and the Company, as
amended by Amendment No. 1 to the Agreement and Plan of Merger,
dated as of April 24, 2013 (the
"Amended Merger Agreement"). Apart from the adjournment of
the EGM, no other business was conducted at EGM. The Company
expects to file with the Securities and Exchange Commission (the
"SEC") and send to shareholders promptly a supplement to the
definitive proxy statement dated March 25,
2013 relating to the Amended Merger Agreement. The
Company will give notice to shareholders of the date on which the
adjourned EGM will be reconvened as soon as a date is selected.
About 3SBio Inc.
3SBio is a leading, fully integrated, profitable biotechnology
company focused on researching, developing, manufacturing and
marketing biopharmaceutical products primarily in China. Its
focus is on addressing large markets with significant unmet medical
needs in nephrology, oncology, supportive cancer care, inflammation
and infectious diseases. With headquarters and GMP-certified
manufacturing facilities in Shenyang, PRC, 3SBio employs over 800
people. Shares trade in the form of ADSs on the NASDAQ Global
Market under the ticker symbol "SSRX". Please see
www.3SBio.com for more information.
Safe Harbor Statement
This press release and related Company disclosures may include
certain statements that are not descriptions of historical facts,
but are forward-looking statements. Such statements include,
among others, those concerning expected benefits and costs of the
proposed transaction; management plans relating to the transaction;
the expected timing of various aspects of the transaction; the
parties' ability to complete the transaction considering the
various closing conditions, as well as all assumptions,
expectations, predictions, intentions or beliefs about future
events. Forward-looking statements can generally be
identified by the use of forward-looking terminology such as
"anticipate," "proposed," "will," "intend," "may," "believes,"
"expects" or similar expressions. Such information is based
upon expectations of the Company that were reasonable when
made. Risks and uncertainties that may cause actual outcome
to differ from the forward-looking statements may include: whether
sufficient number of shareholders will view the terms favorably,
and vote to approve this transaction; whether Decade Sunshine
Limited will secure and receive full financing; whether all the
closing conditions and other terms of the transaction documents
will be duly complied with or fulfilled; future business decisions
of various parties, and other risks and uncertainties discussed in
the documents filed or to be filed with the SEC by the Company,
particularly the Schedule 13E-3 transaction statement and the proxy
statement. These forward-looking statements reflect the
Company's expectations as of the time of this press release.
The Company undertakes no ongoing obligation, other than that
imposed by law, to update these statements.
For investor and media inquiries, please
contact:
Bo Tan
Chief Financial Officer
3SBio Inc.
Tel: + 86 24 2581-1820
ir@3SBio.com
Tom Folinsbee
Director of Investor Relations
3SBio Inc.
Tel: + 852 8191-6991
ir@3SBio.com
SOURCE 3SBio Inc.