Newater technology, inc. announces shareholders' approval of merger agreement

Yantai, china, july 12, 2021 /prnewswire/ -- newater technology, inc. (nasdaq: newa) ("newa", or the "company"), a developer, service provider and manufacturer of membrane filtration products and related hardware and engineered systems that are used in the treatment, recycling and discharge of wastewater, today announced that at an extraordinary general meeting held today, the company's shareholders voted in favor of  the proposal to authorize and approve (i) the previously announced merger agreement dated september 29, 2020 (the "merger agreement") by and among crouching tiger holding limited, an exempted company with limited liability incorporated under the laws of the cayman islands (the "parent"), green forest holding limited, a company with limited liability incorporated under the laws of the british virgin islands (the "merger sub") and the company, pursuant to which merger sub will merge with and into the company, with the company continuing as the surviving company and becoming a wholly owned subsidiary of the parent (the "merger"), (ii) the plan of merger required to be filed with the registrar of corporate affairs of the british virgin islands (the "plan of merger"), and (iii) the consummation of the transactions contemplated by the merger agreement and the plan of merger, including the merger. approximately 80.73% of the company's total ordinary shares outstanding as of the close of business in the british virgin islands on the share record date of february 10, 2021 voted by proxy at the extraordinary general meeting.
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