JA Solar's Board Forms Special Committee To Evaluate "Going Private" Proposal

(RTTNews) - JA Solar Holdings Co., Ltd. (jaso) announced that its Board of Directors has established a special committee solely consisting of independent and disinterested directors to consider the non-binding proposal letter, dated June 5, 2015, from a buyer group comprised of Baofang Jin, Chairman and Chief Executive Officer or CEO of the Company, and Jinglong Group Co., Ltd., a British Virgin islands company of which Baofang Jin is the sole director, to acquire all of the outstanding shares of the company not currently owned by the Buyer Group members in a going private transaction.

The Special Committee is composed of the following independent and disinterested directors of the Company: Shaohua Jia and Yuwen Zhao.

Shaohua Jia will be the Chairperson of the Special Committee. The Special Committee intends to engage a legal counsel and an independent financial advisor for assistance in its work, the company said.

The Board of Directors cautions the company's shareholders that no decisions have been made by the Special Committee with respect to the Company's response to the proposal and there can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated.