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Stock Market & Financial Investment News

News Breaks
January 11, 2013
09:03 EDTMYChina Ming Yang Wind Power responds to recent trading activity
China Ming Yang Wind Power announced that the New York Stock Exchange has notified the company about significant and unusual trading activity on January 10 and requested the company to respond by press release to the unusual activity. Ming Yang wishes to confirm that the management of the company is unaware of any specific reason for the recent significant increase in the company's share price and trading volume, other than China's recently announced plan to increase installed wind power capacity by 18GW in 2013, representing an increase of 29% from 63GW at the end of 2012, as reported in the media.
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May 18, 2015
08:57 EDTMYChina Ming Yang Wind Power acquires RENenergy
China Ming Yang Wind Power announced that Ming Yang has entered into share purchase agreements on May 18, 2015 pursuant to which it has acquired a 99% stake in China Smart Electric Group Limited, a Cayman Islands company. China Smart owns all of the equity interest in Wise Renergy Holdings Limited, a Hong Kong company, which in turn owns all of the equity interests in mainland China-based subsidiaries, Tianjin REnergy Electrical Co., Ltd. and Tianjin Ruiyuan Electrical Co., Ltd. The closing of the acquisition of the 99% interest in China Smart is expected to occur on or about May 20, 2015. Ming Yang expects to acquire the remaining 1% stake in RENergy in the near future. In exchange for a 100% stake in RENergy, Ming Yang will pay a total purchase consideration of approximately $149M. This consideration will be paid in a combination of cash and newly issued shares in Ming Yang. The cash portion of the purchase consideration will comprise $48.3M, with 60% of this amount to be paid within three months, 20% to be paid within six months, and the remaining 20% to be paid within twelve months, from May 18, 2015. The share portion of the purchase consideration will comprise 28,861,709 ordinary shares in Ming Yang which are to be newly issued at US$3.49 per ordinary share, representing a premium of 5.9%, 14.5% and 19.6%, respectively, compared with the 30, 60 and 90 trading days volume-weighted average price of Ming Yang's American Depositary Shares, each representing one ordinary share of Ming Yang, as of May 15,2015.

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