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Blue Ocean Announces Virgin Islands Court Grants Injunction Order Prohibiting Golden Meditech from Taking Any Steps on a Purported Share Charge from Blue Ocean or Pursuing the Removal of Blue Ocean's Representative as a Director of Global Cord BloodBlue Ocean Structure Investment Company Ltd. ("Blue Ocean"), a significant shareholder of Global Cord Blood Corporation (the "Company" or "Global Cord") (NYSE: CO), today announced that the Eastern Caribbean Supreme Court in the High Court of Justice of the Virgin Islands (the "Court") granted an injunction order ("the Order") enjoining Golden Meditech Stem Cells (BVI) Company Limited ("Golden Meditech") from taking any steps on a purported share charge from Blue Ocean and from pursuing the removal of Blue Ocean's representative, Xu Ping, as a Director of Global Cord. Blue Ocean, whose investment in Global Cord represents an ownership position of approximately 65% of the Company's shares, has stated its intent to take all possible actions to stop Global Cord's planned acquisition (the "Transaction") of Cellenkos, Inc. ("Cellenkos"). In response to a distracting and fraudulent Schedule 13D filing made by Golden Meditech with the U.S. Securities and Exchange Commission on 23 May 2022, Blue Ocean filed an injunction order in the Court. There will be a further hearing in respect of this Order on 16 June 2022 (the "Return Date"). Until after the Return Date or further Order of the Court, Golden Meditech must not:
To safeguard the best interests of all shareholders of the Company, Blue Ocean intends to take all possible steps to prevent the proposed acquisition and protect shareholder value, including endeavoring to convene an EGM to pass a special resolution to terminate the proposed acquisition, elect a new slate of directors who will be accountable to all shareholders and to amend the Company's Articles. Blue Ocean urges any shareholders of the Company who share any concerns regarding the proposed acquisition or the Board's total disregard for shareholders to reach out immediately and join forces to protect all existing shareholders of the Company. For more details, please refer to the 13D filing: https://www.sec.gov/Archives/edgar/data/0001467808/000110465922065445/tm2217130d1_sc13da.htm
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