SHENZHEN, China, August 3, 2011 - Cogo Group,
Inc. (Nasdaq:COGO - News), the leading online platform of core
technologies for the small and medium enterprise market in China, today
announced that the redomestication merger to reorganize the Company as
a Cayman Islands company has been completed. This domicile change will
provide the company with the option to dual-list its shares of common
stock on the Hong Kong exchange while also continuing to trade on
Nasdaq, and at the same time, maintain the existing levels of
regulatory scrutiny and financial transparency.
Pursuant to the redomestication merger, each outstanding share of common stock of Cogo Group, Inc., a Maryland company, was converted into one ordinary share of Cogo Group, Inc., a Cayman company. The ordinary shares of Cogo Group will remain listed on the NASDAQ Global Select Market under the trading symbol "COGO."
About Cogo Group, Inc.:
Cogo Group, Inc. (Nasdaq:COGO) is the leading online platform of
Core Technologies for the 42 Million Small and Medium Enterprises
("SME") in China. Cogozon.com, currently serving Cogo's 1,500 SME and
100 Blue-Chip customers, is an e-commerce platform for customers in
tech manufacturing sectors (Smart Meters, Alternative Energy, Autos,
Healthcare, Tablets and HDTV), offering designs, product, applications
and technical support. Cogo's transaction-based online revenue model
centers on its Application Store, offering design solutions and
embedded software, and its Product Store, which sells standardized
Electronic products. Cogo operates Cogopedia.com, a unique web-based
business networking platform to engage with 50,000 electronic and
software engineers, collecting one million data inputs daily. Cogo
offers technology from 400 suppliers, including 50 global players like
Broadcom, Xilinx, Freescale, Microsoft and Atmel. Cogo has 600
employees, with 300 in engineering and 200 in direct sales and 15
service centers across China.
Safe Harbor Statement:
This press release includes certain statements that are not
descriptions of historical facts, but are forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities and Exchange Act of 1934. Such
information is based upon expectations of our management that were
reasonable when made, but may prove to be incorrect. All such
assumptions are inherently subject to uncertainties and contingencies
beyond our control and upon assumptions with respect to future business
decisions, which are subject to change. For further descriptions of
other risks and uncertainties, see our most recent Annual Report filed
with the Securities and Exchange Commission (SEC) on Form 10-K, and our
subsequent SEC filings. Copies of filings made with the SEC are
available through the SEC's electronic data gathering analysis
retrieval system (EDGAR) at www.sec.gov.
For further information contact:
Investor Relations
www.cogo.com.cn/investorinfo.html
communications@cogo.com.cn
H.K.: +852 2730 1518
U.S.: +1 (646) 291 8998
Fax: +86 (755) 2674 3522