Update on Preliminary, Non-Binding "Going Private" Proposal Letter Received by the Company from its Chairman, President and Chief Executive Officer, Dr. Shawn Qu
Dr. Qu has engaged financial advisors and is in discussions with potential equity partners and debt financing sources. The Company has entered into confidentiality and standstill agreements with Dr. Qu and several potential equity partners and provided them with access to information about the Company. The Special Committee has given Dr. Qu and the potential equity partners until the end of September to complete their due diligence on the Company.
The Board cautions shareholders and others considering trading in the Company's securities that the Special Committee and the Board have not made any decision with respect to the Company's response to the Proposed Transaction. The Board also cautions that there can be no assurance that any definitive offer relating to the Proposed Transaction or any other transaction will be made by Dr. Qu or any other person, that any definitive agreement with respect to the Proposed Transaction or any other transaction will be entered into or that the Proposed Transaction or any other transaction will be approved or completed.
The Company does not undertake any obligation to provide any further updates with respect to the Proposed Transaction or any other transaction except as required by applicable law.
Founded in 2001 in
This press release contains statements that are "forward-looking statements" as defined under the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent our estimates and assumptions only as of the date of this press release. These forward-looking statements include statements regarding statements that are not historical facts. Our actual results may differ materially from the results described in or anticipated by our forward-looking statements due to certain risks and uncertainties. As a result, the Company's actual results could differ materially from those contained in these forward-looking statements due to a number of factors, including those described under the heading "Risk Factors" in the Company's Form 20-F annual report filed with the
View original content:http://www.prnewswire.com/news-releases/update-on-preliminary-non-binding-going-private-proposal-letter-received-by-the-company-from-its-chairman-president-and-chief-executive-officer-dr-shawn-qu-300707887.html
Mary Ma, Manager, Investor Relations, Canadian Solar Inc., firstname.lastname@example.org; David Pasquale, Global IR Partners, Tel: +1-914-337-8801, email@example.com