Tongjitang Chinese Medicines Company has announced that the Company's shareholders have voted in favor of the proposal to adopt the previously disclosed Agreement and Plan of Merger, dated as of October 29, 2010, as amended on February 21, 2011, among Tongjitang, Hanmax Investment Limited, Fosun Industrial and Tonsun International Company, a company owned by Hanmax and Fosun. Of the ordinary shares voted at the extraordinary general meeting, approximately 99.68 percent were voted in favor of the proposal to adopt the Merger Agreement.
If the merger is completed as the parties expect, Tongjitang will continue its operations as a privately-held company owned solely by Hanmax and Fosun. The parties currently expect the merger to close in April 2011.
Tongjitang's flagship product, Xianling Gubao, is the leading traditional Chinese medicine for the treatment of osteoporosis in China. In addition to Xianling Gubao, the Company manufactures and markets 35 other modernized traditional Chinese medicine products and 36 western medicines.