Trina Solar board to consider buyout proposal
Trina Solar has announced that its board of directors has received a preliminary non-binding proposal letter, from Mr. Jifan Gao, Chairman and Chief Executive Officer of the Company, and Shanghai Xingsheng Equity Investment & Management Co., Ltd. (together with Mr. Jifan Gao, ), a subsidiary of Industrial Bank Co., Ltd, to acquire all of the outstanding shares of the Company not owned by the Buyer Group, including ordinary shares represented by American depositary shares.
The Board has formed a special committee consisting of two independent directors, Messrs. Sean Shao and Qian Zhao, to consider the proposal.
The Board, other than Mr. Jifan Gao, is reviewing and evaluating the proposal, and cautions its shareholders and others considering trading its securities that the Board has just received the proposal letter and has not had an opportunity to carefully review and evaluate the proposal yet, nor has the Board made any decision with respect to the Company's response to the proposal