HONG KONG, Nov. 11, 2010 /PRNewswire-Asia/ -- The Founding Shareholders are pleased that GOME Electrical Appliances Holding Limited (the "Company") has agreed to convene a special general meeting seeking shareholders' approval for the enlargement of the board of directors of the Company (the "Board") and the appointment of two directors nominated by Shinning Crown Holdings Inc.
As previously stated, both parties are committed to cooperating with all shareholders to continue to improve the Company's performance. The Founding Shareholders have much to add to the Company in terms of experience and expertise, and with additional representation on the Board, the Founding Shareholders believe that the Company's future strategy can be debated and determined in a constructive and consensual basis through the Board.
Both parties wish to maintain a strong and stable management team who are dedicated to the Company's development, and will work with the current Board and management to build a stronger and more profitable company using their experience gathered since 1987, having built the Company into the leading retail chain for home appliances in the PRC.
To this end, in the event that the Founding Shareholders obtain appropriate Board representation, they have no current intention to terminate any of the existing Intra-Group Agreements between the listed and unlisted parts of the GOME group, and will continue to comply with their terms.
The Founding Shareholders would like to thank all stakeholders for their continued support.
