GOME HUANG Chen ushered in the first reconciliation Zou xiaochun huangyan Rainbow into GOME directors

Attracted the attention of the United States outside of Chen Huang negotiations finally ushered in the first settlement agreement. Yesterday, GOME external announcements that will be forthcoming on the special general meeting of shareholders, hope you can get the approval of shareholders, Mr. Zou appointed Executive Director, huangyan Rainbow as non-executive directors for a term of three years from the date of the extraordinary general meeting.

This is in particular after the general meeting of shareholders, Huang Chen reached a first agreement has the force of law.

GOME in announcements that will be entered into a memorandum of understanding (MOU) SHINNING CROWN proposes to extend the Board of Directors and to appoint directors to the shareholders of the memorandum of understanding, in the company of the forthcoming extraordinary general meeting approved the appointment of an Executive Director Zou xiaochun to huangyan Rainbow and appointed as non-Executive Director, Zou xiaochun and huangyan Rainbow will also be appointed as a member of the Board of Directors. Zou xiaochun will be appointed to the Board's Nominating Committee and Executive Committee members, and also the Rainbow Huangyan was appointed as a member of the Board's remuneration Committee.

Under the terms of the memorandum of understanding, both parties have committed to cooperate in all respects, to implement the various actions and measures that the United States and the overall best interests of the shareholders to build a stronger and more profitability of the company. GOME Board and Shinning Crown respectively shall be entitled to terminate the memorandum of understanding, but advance 30 days written notice to the other.

Under the agreement, the Board of Directors also announced the United States indicated that will seek to obtain the extraordinary general meeting of shareholders approved, will permit the maximum number of directors from 11 to 13.

It should be noted that, pursuant to such notice, the parties negotiating at present only a founding shareholder of the reasonable Board seats a consensus was reached, but prior to accepting Zou xiaochun national business news interview indicated that the largest shareholder in the bottom line for the negotiations is to submit a "package" of the programme, including restructuring of Board of Directors, GOME management and development strategy for the future, the founders of the non-consolidated business listing of stores and other issues remain unresolved.

"At present only in the United States agree on the Board of Directors, the remaining issues will also be phased to talk about. "The informed yesterday in an interview.

However, national business news noted that, in accordance with the existing Board members including Executive Director Mr. Chen, Mr. Kin-wah NG, Mr. Wang Chun Chau, Mr. Qiu Li and official Mr. Ding; non-Executive Director Jonathan, Mr. Ian AndrewReynolds and Ms. Wangli hung; and independent non-Executive Director, Mr. Sze-Ping Chen Yu-sang and Mr. Thomas Joseph Manning, and Zou xiaochun and huangyan Rainbow, currently represent the major shareholders of the members of the Board of directors only Zou xiaochun, huangyan Rainbow, Kin-wah NG, slightly down and Chen.

However, there are people in the industry, the major shareholder in the United States Board of legitimate seats have been realized, and this is also the signal of reconciliation between the two parties, in the short term, GOME or will no longer appear "split" situation.