China Hyroelectric issues second letter to shareholders

theflyonthewall.com

China Hydroelectric's board of directors has issued the following letter to its shareholders in response to recent actions taken by a minority shareholder group stating: "(...) a group of minority shareholders has sought to unilaterally call an extraordinary general meeting of shareholders in an attempt to acquire control of your company by seeking to replace the company's board of directors with their own nominees.(...) The company filed a Complaint against the Insurgents in Federal Court on September 10. (...) The complaint seeks to, among other things, enjoin the Insurgents from voting or soliciting proxies until they comply with Section 13(d) of the Exchange Act. (...) A preliminary hearing is scheduled for October 4. The Insurgents have no experience in operating or managing businesses of any kind, let alone hydroelectric plants located in the People's Republic of China. (...) The Insurgents' meeting scheduled for September 28 is NOT a valid meeting. (...) We urge all of our shareholders to mark the box "Against" on the Insurgents White proxy card and return it pursuant to the instructions on the card."

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