China Information Technology, Inc. (CNIT) Board of Directors Approves Redomestication from Nevada to British Virgin Islands
China Information Technology, a prominent, China-based provider of information and display technologies, announced today that its Board of Directors has approved the redomestication of the company from the State of Nevada to the British Virgin Islands with a unanimous vote. CNIT BVI, a wholly owned subsidiary, filed a registration statement on Form F-4 today, pertaining to the redomestication transaction and the inclusion of a proposal to approve this transaction at the next yearly stockholders meeting. The Board believes that the redomestication will make shares of CNIT BVI more appealing to non-U.S. investors and expand its shareholder base worldwide. The redomestication…