HONG KONG, Dec. 16, 2021 /PRNewswire/ -- Global Cord Blood
Corporation (NYSE: CO) ("GCBC" or the "Company"), China's leading provider of cord blood
collection, laboratory testing, hematopoietic stem cell processing
and stem cell storage services, today announced that its Board of
Directors (the "Board") decided to reject the non-binding proposal
letter ("Alternate Ocean Proposal") from Alternate Ocean Investment
Company Limited ("Alternate Ocean") received by the Board dated
March 2, 2021, pursuant to which
Alternate Ocean proposed to acquire all outstanding ordinary shares
of the Company for US$5.00 per
ordinary share in cash, based on the recommendation from a special
committee of independent directors (the "Special Committee").
The Special Committee and the Board believe such proposal in
its original form fails to properly reflect the value of the
Company and maximize shareholder value.
About Global Cord Blood Corporation
Global Cord Blood Corporation is the first and largest umbilical
cord blood banking operator in China in terms of geographical coverage and
the only cord blood banking operator with multiple licenses. Global
Cord Blood Corporation provides cord blood collection, laboratory
testing, hematopoietic stem cell processing and stem cell storage
services. For more information, please visit the Company's website
at: http://www.globalcordbloodcorp.com.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, and
Section 21E of the Securities Exchange Act of 1934. These
statements relate to future events or the Company's future
financial performance. The Company has attempted to identify
forward-looking statements by terminology including "anticipates",
"believes", "expects", "can", "continue", "could", "estimates",
"intends", "may", "plans", "potential", "predict", "should" or
"will" or the negative of these terms or other comparable
terminology. These statements are only predictions, uncertainties
and other factors may cause the Company's actual results, levels of
activity, performance or achievements to be materially different
from any future results, levels of activity, performance or
achievements expressed or implied by these forward-looking
statements. The information in this press release is not intended
to project future performance of the Company. Although the Company
believes that the expectations reflected in the forward-looking
statements are reasonable, the Company does not guarantee future
results, levels of activity, performance or achievements. The
Company expectations are as of the date this press release is
issued, and the Company does not intend to update any of the
forward-looking statements after the date this press release is
issued to conform these statements to actual results, unless
required by law.
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SOURCE Global Cord Blood Corporation