ReneSola's Board of Directors Agrees to Implement Shareholder Rights Plan

ReneSola Ltd ,a leading global manufacturer of solar products, recently announced that its Board of Directors ("Board") has agreed to implement a Shareholder Rights Plan ("Rights Plan"). The details of the Rights Plan are expected to be finalized by the Board before the end of August 2011 and will be further communicated by the Company upon finalization.The Rights Plan is not being implemented in response to, or in anticipation of, any specific effort to acquire control of ReneSola, and the Company is not aware of any pending takeover bid. The Rights Plan is designed to enhance the Board's ability to protect shareholder interests and ensure shareholders receive fair treatment in the event of any transaction involving a change of control within the Company. Additionally, the Rights Plan allows the Board to seek out alternatives that maximize shareholder value.


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