SHENZHEN, China, Aug. 6, 2015 /PRNewswire/ -- China Nepstar
Chain Drugstore Ltd. (NYSE: NPD) ("Nepstar" or the "Company"), a
leading retail drugstore chain in China based on the number of directly operated
stores, today announced that the special committee (the "Special
Committee") of the Company's board of directors has retained
Houlihan Lokey (China) Limited as its financial advisor and
Shearman & Sterling LLP as its United
States legal counsel in connection with its review and
evaluation of the previously announced preliminary non-binding
"going private" proposal letter that the Company's board of
directors received on July 6,
2015.
The Special Committee is continuing its evaluation of the
proposed "going private" transaction. There can be no assurance
that any definitive offer will be made, that any definitive
agreement will be executed relating to the proposed transaction or
that this or any other transaction will be approved or consummated.
The Company does not undertake any obligation to provide any
updates with respect to this or any other transaction, except as
required under applicable law.
About China Nepstar Chain Drugstore Ltd.
China Nepstar Chain Drugstore Ltd. (NYSE: NPD) is a leading
retail drugstore chain in China.
As of March 31, 2015, the Company had
1,969 directly operated stores across 74 cities, one headquarter
distribution center and 15 regional distribution centers in
China. Nepstar uses directly
operated stores, centralized procurement and a network of
distribution centers to provide its customers with high-quality,
professional and convenient pharmaceutical products and services
and a wide variety of other merchandise, including OTC drugs,
nutritional supplements, herbal products, personal care products,
family care products, and convenience products. Nepstar's strategy
of centralized procurement, competitive pricing, customer loyalty
programs and private label offerings has enabled it to capitalize
on the continuing economic growth in China and take advantage of the demographic
trend in China to achieve a strong
brand and leading market position. For further information, please
go to http://www.nepstar.cn.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates" and similar
statements. Among other things, the quotations from management in
this press release and the Company's strategic operational plans
and business outlook, contain forward-looking statements. Such
statements involve certain risks and uncertainties that could cause
actual results to differ materially from those in the
forward-looking statements. Further information regarding these and
other risks is included in the Company's filings with the U.S.
Securities and Exchange Commission, including its annual report on
Form 20-F. The Company does not undertake any obligation to update
any forward-looking statement as a result of new information,
future events or otherwise, except as required under applicable
law.
Contacts
Zixin Shao
China Nepstar Chain Drugstore Ltd.
Chief Financial Officer
+86-755-2641-4065
ir@nepstar.cn
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SOURCE China Nepstar Chain Drugstore Ltd.