August 3, 2011
Kirin Responds to Reports concerning Acquisition of Schincariol Group Shares
There have been reports concerning Kirin Holdings' acquisition of Schincariol Group shares announced yesterday that minority shareholders of Schincariol Group are claiming that the transaction is illegitimate.
Kirin is aware that these claims are being made, and based on prior consultations with local attorneys concerning the lawfulness and validity of the transaction, we have proceeded with the acquisition with the understanding that the transaction is legitimate. Kirin will continue to monitor this matter to ensure that it is handled properly.