UTStarcom shareholders approve Cayman Islands reorganization merger; completed June 24
At its June 24, 2011 annual meeting, UTStarcom stockholders approved a merger that moved the company's parent to a Cayman Islands company, UTStarcom Holdings Corp. The filing says the reorganization was completed on June 24, 2011, and each common share was exchanged for one UTS Holdings ordinary share that trades on NASDAQ under the same symbol, UTSI.
- Reorganization completed June 24, 2011; each common share exchanged for one UTS Holdings ordinary share
- UTS Holdings expected to qualify as a foreign private issuer; company remains subject to Sarbanes-Oxley Act of 2002
- Shareholders also re-elected Jack Lu, Baichuan Du and Xiaoping Li as Class II Directors and ratified PricewaterhouseCoopers Zhong Tian CPAs Limited Company as auditor for 2011