SHENZHEN, China, Dec. 7, 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 that, at the special meeting of
stockholders of the Company held on December
7, 2012, the Company's stockholders voted in favor of the
proposal to approve the previously announced Agreement and Plan of
Merger, dated as of 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"), providing for
the merger of Merger Sub with and into the Company (the "Merger"),
with the Company surviving the merger as a wholly owned subsidiary
of Parent. Approximately 89.9% of the Company's total outstanding
shares of common stock voted in person or by proxy at the special
meeting. Approximately 89.6% of the shares outstanding voted in
favor of the proposal to approve the Merger Agreement. The proposal
to approve the Merger Agreement was also approved by approximately
63.7% of the shares of common stock outstanding held by the
stockholders other than Mr. Jianquan
Li, Ms. Ping Tse (Mr. Li's
wife), Parent and Merger Sub, satisfying the "majority of the
minority" voting requirement set forth in the Merger Agreement.
The parties currently expect to complete the Merger within the
current fiscal quarter, subject to the satisfaction or waiver of
the conditions set forth in the Merger Agreement. If completed, the
proposed merger would result in the Company becoming a privately
held company and its common stock would no longer be listed on the
NASDAQ Global Market.
About Winner Medical
Winner Medical is a leading China-based exporter and retailer of
high-quality medical dressings and consumer products made from 100%
cotton, according to industry trade association statistics. The
Company has fifteen wholly-owned subsidiaries and three joint
ventures, which manufacture and sell tailored medical dressings and
disposables, as well as non-woven fabric made from natural cotton.
With a vertically integrated supply chain ranging from spinning
fabric to finished goods, the Company provides its customers with a
wide range of high-quality products, from surgical and wound care
to consumer goods in China and
abroad. Its products include those with FDA, CE mark, TUV and other
global standard certifications and the Company holds 54
domestic and international patents. For nine consecutive years, the
Company has ranked as one of the leading medical dressing exporters
in China, with North America, Europe and Japan as its major markets. In addition, the
Company distributes under its own "Winner" and "PurCotton®"
brand names in China. To learn
more about Winner Medical, please visit Winner Medical's website
at: http://winnermedical.investorroom.com.
For investor inquiries, please contact:
Ms. Huixuan (Fiona) Chen
Investor Relations Manager
Winner Medical Group Inc.
Phone: +86-755-2806-6858
Email: investors@winnermedical.com
SOURCE Winner Medical Group Inc.