SHANGHAI, July 17, 2017 /PRNewswire/ -- ReneSola Ltd
("ReneSola" or the "Company") (www.renesola.com) (NYSE: SOL), a
leading fully integrated solar project developer and provider of
energy-efficient products, today announced that the special
committee (the "Special Committee") of its board of directors (the
"Board") has retained Roth Capital Partners as its financial
advisor and Kirkland & Ellis as its U.S. legal counsel in
connection with its review and evaluation of the
previously-announced preliminary non-binding proposal ("Proposal"),
dated June 13, 2017, from Mr.
Xianshou Li, the Company's Chairman and Chief Executive Officer
("Mr. Li"), to acquire the Company's manufacturing business
(including polysilicon, solar wafer and solar module manufacturing)
and LED distribution business and assume related indebtedness and
other alternatives available to the Company.
The Company cautions the Company's shareholders and others
considering trading the Company's securities that neither the Board
nor the Special Committee has made any decision with respect to the
Company's response to the Proposal. There can be no assurance that
any definitive offer will be made, that any definitive agreement
will be executed relating to the proposed transaction or that this
or any other transaction will be approved or consummated. The
Company does not undertake any obligation to provide any updates
with respect to this or any other transaction, except as required
under applicable law.
About ReneSola
Founded in 2005, and listed on the New York Stock Exchange in
2008, ReneSola (NYSE: SOL) is an international leading brand and
technology provider of energy efficient products. Leveraging its
global presence and expansive distribution and sales network,
ReneSola is well positioned to provide its highest quality green
energy products and on-time services for EPC, installers, and green
energy projects around the world. For more information, please
visit www.renesola.com.
Safe Harbor Statement
This press release contains statements that constitute
"forward-looking" statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and as defined in the
U.S. Private Securities Litigation Reform Act of 1995. Whenever you
read a statement that is not simply a statement of historical fact
(such as when the Company describes what it "believes," "plans,"
"expects" or "anticipates" will occur, what "will" or "could"
happen, and other similar statements), you must remember that the
Company's expectations may not be correct, even though it believes
that they are reasonable. The Company does not guarantee that the
forward-looking statements will happen as described or that they
will happen at all. Further information regarding risks and
uncertainties that could cause actual results to differ materially
from those in the forward-looking statements is included in the
Company's filings with the U.S. Securities and Exchange Commission,
including the Company's annual report on Form 20-F. The Company
undertakes no obligation, beyond that required by law, to update
any forward-looking statement to reflect events or circumstances
after the date on which the statement is made, even though the
Company's situation may change in the future.
For investor and media inquiries, please contact:
In China:
ReneSola Ltd
Ms. Rebecca Shen
+86 (21) 6280-9180 x106
ir@renesola.com
The Blueshirt Group Asia
Mr. Gary Dvorchak, CFA
+86 (138) 1079-1480
gary@blueshirtgroup.com
In the United
States:
The Blueshirt Group
Mr. Ralph Fong
+1 (415) 489-2195
ralph@blueshirtgroup.com
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SOURCE ReneSola Ltd.