NEW YORK, Aug. 27, 2019 /PRNewswire/ -- The Committee
for China Cord Fairness (the "Committee"), which has been organized
by a minority shareholder of Global Cord Blood Corporation (NYSE:
CO) ("Global Cord" or the "Company") to protect the interests of
the Company's minority shareholders, announced today that it has
issued a letter to fellow shareholders and launched a consent
solicitation campaign in order to solicit consents to a series of
advisory proposals aimed at sending a clear and decisive message to
the board of directors of the Company (the "Board") that the
minority shareholders will not sit silently by while the Board
works towards completing an economically imprudent transaction that
sacrifices the interests of the minority shareholders for the
benefit of Sanpower Group Corporation, the majority shareholder of
Global Cord (the "Majority Shareholder"), and Cordlife Group
Limited ("Cordlife" or "CLGL"), of which the Majority Shareholder
is the largest holder.
Specifically, the Committee is seeking shareholders' consents to
demand that the Board take a series of steps aimed at maximizing
shareholder value and protecting the fundamental interests of the
shareholder franchise, including (i) conditioning the completion of
all business transactions on an un-coerced, informed vote of a
majority of the unaffiliated minority shareholders; (ii) retaining
an independent international investment banking firm to conduct a
strategic review; (iii) requiring the approval of a majority of the
unaffiliated minority shareholders before consummating material
acquisitions; (iv) aligning management incentives in the Company's
executive compensation programs with shareholder value enhancement;
(v) requiring the Chair of the Board to be independent; and (vi)
providing a consistent dividend policy.
The Committee urges all minority shareholders to deliver their
consents at their earliest possible convenience, but in any event
no later than October 16, 2019.
The full text of the letter can be viewed at the following
link:
www.chinacordfairness.com
The consent solicitation materials, as well as previous letters
and communications concerning the shareholders' interests, and the
ongoing litigation in the Cayman
Islands involving the Company, can be found at the website
www.chinacordfairness.com.
The Committee has retained D. F. King & Co., Inc. and
Olshan Frome Wolosky LLP to assist it in connection with its
consent solicitation efforts at Global Cord.
For questions about how to submit your consent, please contact
our proxy solicitor, D.F. King & Co., Inc., at (800)
207-3159.
INVESTOR CONTACT:
Richard Grubaugh
D.F. King & Co.
212-269-5550
chinacordfairness@dfking.com
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SOURCE The Committee for China Cord Fairness