This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

China Information Technology Announces Effectiveness Of Registration Statement, Mailing Of Definitive Proxy Statement/Prospectus And Proposal Submission Deadline For Its 2012 Annual Meeting Of Stockholders

SHENZHEN, China, July 30, 2012 /PRNewswire-Asia-FirstCall/ -- China Information Technology, Inc. (Nasdaq: CNIT), a leading provider of information technologies and display technologies based in China, today announced that the Securities and Exchange Commission (the "SEC") has declared effective a Form F-4 Registration Statement, which includes a Proxy Statement of CNIT and also constitutes a Prospectus (the "proxy statement/prospectus") of China Information Technology, Inc., a British Virgin Islands company, or CNIT BVI, in connection with the proposed reorganization of CNIT as a British Virgin Islands company. 

The reorganization will be effected through a merger (the "Merger") of CNIT with a subsidiary of CNIT BVI resulting in the shares of CNIT being converted into the right to receive shares of CNIT BVI. The Merger is part of a reorganization of CNIT's corporate structure that the Company expects will, among other things, result in a reduction in operational, administrative, legal and accounting costs over the long term and provide CNIT with additional flexibility to pursue listings on international stock exchanges, should the Company desire to do so in the future.  The 2012 Annual Meeting of Stockholders (the "Annual Meeting") of CNIT has been scheduled to be held on Wednesday, October 31, 2012 at 9:00 a.m., local time.  CNIT has established September 28, 2012 as the record date for the Annual Meeting. Holders of CNIT common stock as of the record date will be asked to approve the proposed Merger and certain other proposals at the Annual Meeting.  Stockholders of record as of the close of business on the record date are entitled to notice of and vote at the Annual Meeting. The Annual Meeting will be held at the Company's offices located at 21st Floor, Everbright Bank Building, Zhuzilin, Futian District, Shenzhen, Guangdong, 518040, People's Republic of China.

Subject to its review of any submissions of proposals for inclusion in the proxy statement/prospectus (discussed below), CNIT expects to commence the mailing of the proxy statement/prospectus to all holders of CNIT common stock as of the record date on September 28, 2012.

The proposed Merger is subject to approval by holders of CNIT common stock.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs