Committee for China Cord Fairness receives support for changes at Global Cord
The Committee for China Cord Fairness announced that it has received and delivered consents representing more than 73% of the shares of Global Cord Blood Corporation held by the Company's minority shareholders in support of the Committee's proposal that any business transaction will be conditioned on the approval of the majority of the minority shareholders. The Committee expects Global Cord's Board of Directors to promptly confirm that it will comply with the clear wishes of the majority of the minority shareholders by approving such proposal. Additionally, the Committee delivered consents representing more than 58% of the shares of the Company held by the Company's minority shareholders in support of the Committee's five other corporate governance proposals. According to the Committee's proxy solicitor, D.F. King & Co., 73.04% of the minority shareholders of the Company participated in the consent solicitation; the minority shareholders include all of the Company's shareholders, excluding the Company's majority shareholder, Sanpower Group Corporation (the "Majority Shareholder"), and members of the management team.