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January 23, 2013
16:11 EDTJSTJinpan completes construction of cast resin transformer manufacturing facility
Jinpan International has completed construction of a new cast resin transformer manufacturing facility in Guilin, Guangxi, China.The Guilin Facility is built on thirty-eight acres of land zoned for industrial development acquired by the company in 2011. The company has completed construction of four factory buildings, three employee dormitory buildings, and one multifunctional office building, which comprise the Guilin Facility. Management expects the Guilin Facility to begin formal operations in March and to gradually ramp up production over the next two to three year period.
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September 26, 2014
08:31 EDTJSTJinpan establishes independent committee to evaluate going private proposal
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September 22, 2014
08:34 EDTJSTJinpan announces receipt of 'going private' proposal at $8.80 per share
Jinpan announced that its board has received a preliminary, non-binding proposal letter dated September 21, 2014 from Li Zhiyuan, the company's Chairman of the Board, President, and CEO and FNOF E&M Investment Limited, to acquire all of the outstanding common shares of the company not currently owned by the Buyer Parties in a going private transaction for $8.80 per common share, subject to certain conditions. According to the proposal letter, an acquisition vehicle will be formed for the purpose of completing the acquisition, and the acquisition is intended to be financed through a combination of debt and equity capital. The Company expects that its board will form a special committee consisting of independent directors to consider this proposal. The company also expects that the Independent Committee will retain a financial advisor and legal counsel to assist it in its work.

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