China Hydroelectric Corporation Announces Extraordinary General Meeting of Shareholders

  China Hydroelectric Corporation Announces Extraordinary General Meeting of

PR Newswire

BEIJING, May 23, 2014

BEIJING, May 23, 2014 /PRNewswire/ -- China Hydroelectric Corporation (NYSE:
CHC, CHCWS) ("China Hydroelectric" or the "Company"), an owner, developer and
operator of small hydroelectric power projects in the People's Republic of
China ("PRC"), today announced that it has called an extraordinary general
meeting of shareholders (the "EGM"), to be held on July 3, 2014 at 10:00 a.m.
(Hong Kong time), at 31st Floor, AIA Central, 1 Connaught Road, Central, Hong
Kong, to consider and vote on, among other matters, the proposal to authorize
and approve the previously announced agreement and plan of merger dated as of
January 13, 2014 (the ''Merger Agreement''), among the Company, CPT Wyndham
Holdings Ltd. (''Parent'') and CPT Wyndham Sub Ltd. (''Merger Sub''), the plan
of merger required to be filed with the Registrar of Companies of the Cayman
Islands, substantially in the form attached as Annex A to the Merger Agreement
(the ''Plan of Merger''), and the transactions contemplated thereby, including
the Merger (as defined below).

Pursuant to the Merger Agreement and the Plan of Merger, Merger Sub will be
merged with and into the Company (the "Merger") with the Company continuing as
the surviving corporation. If completed, the proposed Merger would result in
the Company becoming a privately-held company and the American depositary
shares of the Company (each representing three ordinary shares) ("ADSs") no
longer being listed on the New York Stock Exchange. The Company's board of
directors, acting upon the unanimous recommendation of a special committee of
the Company's board of directors composed entirely of independent directors
who are unaffiliated with the buyer group and any of the management members of
the Company, approved the Merger Agreement, the Plan of Merger and the
transactions contemplated thereby (including the Merger) and resolved to
recommend that the Company's shareholders and ADS holders vote FOR, among
other things, the proposal to authorize and approve the Merger Agreement, the
Plan of Merger and the transactions contemplated thereby (including the

Shareholders of record at the close of business in the Cayman Islands on June
9, 2014 will be entitled to attend and vote at the EGM and any adjournment
thereof. The record date for ADS holders entitled to instruct The Bank of New
York Mellon, the ADS depositary, to vote the shares represented by the ADSs is
the close of business in New York City on May 30, 2014. Additional information
regarding the EGM and the Merger Agreement can be found in the transaction
statement on Schedule 13E-3 and the proxy statement attached as Exhibit
(a)-(1) thereto, as amended, filed with the U.S. Securities and Exchange
Commission (the "SEC"), which can be obtained, along with other filings
containing information about the Company, the proposed Merger and related
matters, without charge, from the SEC's website ( Requests for
additional copies of the definitive proxy statement should be directed to
Innisfree M&A Incorporated, the Company's proxy solicitor, at 1-888-750-5834
(toll-free from the US and Canada) or 1-412-232-3565 (from other countries).

The Company and certain of its directors, executive officers and other members
of management and employees may, under SEC rules, be deemed to be
"participants" in the solicitation of proxies from our shareholders with
respect to the proposed Merger. Information regarding the persons who may be
considered "participants" in the solicitation of proxies is set forth in the
definitive proxy statement and Schedule 13E-3 transaction statement relating
to the proposed Merger. Further information regarding persons who may be
deemed participants, including any direct or indirect interests they may have,
is also set forth in the definitive proxy statement.

This announcement is neither a solicitation of a proxy, an offer to purchase
nor a solicitation of an offer to sell any securities and it is not a
substitute for any proxy statement or other filings that have been or will be
made with the SEC.

About China Hydroelectric Corporation

China Hydroelectric Corporation (NYSE: CHC, CHCWS) ("China Hydroelectric" or
"the Company") is an owner, developer and operator of small hydroelectric
power projects in China. Through its geographically diverse portfolio of
operating assets, the Company generates and sells electric power to local
power grids. The Company's primary business is to identify, evaluate, acquire,
develop, construct and finance hydroelectric power projects. The Company
currently owns 25 operating hydropower stations in China with total installed
capacity of 517.8 MW, of which it acquired 21 operating stations and
constructed four. These hydroelectric power projects are located in four
provinces: Zhejiang, Fujian, Yunnan and Sichuan. Hydropower is an important
factor in meeting China's electric power needs, accounting for approximately
22% of total nation-wide capacity.

Cautionary Statement concerning Forward Looking Statements

This document may include certain statements that are not descriptions of
historical facts, but are forward-looking statements. Such statements include,
among others, those concerning expected benefits and costs of the proposed
Merger; management plans relating to the Merger; the expected timing of the
completion of the Merger; the parties' ability to complete the Merger
considering the various closing conditions, including any conditions related
to regulatory approvals, as well as all assumptions, expectations,
predictions, intentions or beliefs about future events. Forward-looking
statements can generally be identified by the use of forward-looking
terminology such as "will," "should," "may," "believes," "expects" or similar
expressions. All of such assumptions are inherently subject to uncertainties
and contingencies beyond the Company's control and based upon premises with
respect to future business decisions, which are subject to change. The Company
does not undertake any obligation to update any forward-looking statement,
except as required under applicable law.

For more information, please contact:

China Hydroelectric Corporation
Scott Powell                                 James Hull
Investor Relations and Corporate             Finance Manager
Communications                               Phone (China): +86-10-5963-6881
Phone (U.S.): +1 (646) 650-1351              Email:

SOURCE China Hydroelectric Corporation
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