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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Global Cord Blood Corporation | NYSE:CO | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.9876 | 0 | 01:00:00 |
Recent Filing Only Intended as a Distraction to Shareholders and has No Impact on Blue Ocean Campaign to STOP the Cellenkos Transaction
Blue Ocean Structure Investment Company Ltd. (“Blue Ocean”), a significant shareholder of Global Cord Blood Corporation (the “Company” or “Global Cord”) (NYSE: CO), today commented on what Blue Ocean believes to be a shocking, distracting and fraudulent Schedule 13D filing made by Golden Meditech Stem Cells (BVI) Company Limited (“Golden Meditech”) with the U.S. Securities and Exchange Commission.
Blue Ocean, whose investment in Global Cord represents an ownership position of approximately 65% of the Company’s shares, has stated its intent to take all possible actions to stop Global Cord’s planned acquisition (the “Transaction”) of Cellenkos, Inc. (“Cellenkos”). To date, Blue Ocean has been able to obtain an injunction from the Grand Court of the Cayman Islands that will temporarily prevent the Transaction from proceeding as well as gathered significant support from fellow shareholders.
In what is a clear reaction to Blue Ocean’s successful campaign, Mr. Kam Yuen, who through Golden Meditech controls Cellenkos, has made a number of claims including that Golden Meditech has a right to Global Cord shares owned by Blue Ocean. Blue Ocean would like to stress that THESE CLAIMS ARE ENTIRELY FALSE AND ONLY INTEND TO DISTRACT SHAREHOLDERS. Blue Ocean reserves the right to take any legal actions it deems necessary or appropriate arising from the Schedule 13D filing made by Golden Meditech.
Global Cord shareholders should understand the following:
It is crucial that all shareholders in Global Cord fully support the legal proceedings and the actions of Blue Ocean to ensure the Cellenkos Transaction is stopped. We would also like to assure all shareholders that Mr. Kam's latest Schedule 13D filing has no impact on Blue Ocean's legal title to its shares of Global Court or the legal proceedings to prevent the Transaction.
Blue Ocean firmly believes the Transaction is not in the best interests of the Company or its shareholders due to the following reasons:
To safeguard the best interests of all shareholders of the Company, Blue Ocean intends to take all possible steps to prevent the proposed acquisition, including endeavoring to convene an EGM to pass a special resolution to terminate the proposed acquisition. Blue Ocean urges any shareholders of the Company who share any concerns regarding the proposed acquisition to reach out immediately and join forces to protect all existing shareholders of the Company.
For more information, please refer to the 13D filing: https://www.sec.gov/Archives/edgar/data/0001467808/000110465922063868/tm2216632d1_sc13da.htm
View source version on businesswire.com: https://www.businesswire.com/news/home/20220523005917/en/
For any inquiries, please contact:
FTI Consulting Brad Newman (US) brad.newman@fticonsulting.com +12128505736
Rita Fong (Hong Kong) Rita.fong@fticonsulting.com +85237684548
Rachel Hsueh (China) rachel.hsueh@fticonsulting.com +862123151065
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