Energy Infrastructure Acquisition Corp. Announces Termination of Share Purchase Agreement With Vanship Holdings; Intention to Fi
18 Juli 2008 - 2:00PM
Marketwired
WILMINGTON, DE (AMEX: EIIW) ("Energy Infrastructure" or the
"Company") today announced that as a result of the failure by the
Company and Vanship Holdings Limited to agree on revised
transaction terms, the Company's wholly-owned subsidiary, Energy
Infrastructure Merger Corporation ("Energy Merger"), was not able
to complete its Registration Statement on Form F-4 and the Company
was unable to timely distribute its proxy statement to the
Company's stockholders in advance of the planned Special Meeting of
Stockholders, resulting in cancellation of the Special Meeting. The
parties are considering termination of the Share Purchase Agreement
among the Company, Energy Merger and Vanship Holdings, pursuant to
which Energy Merger was to acquire nine companies from Vanship.
Pursuant to the terms of its certificate of incorporation, if
the Company has not completed a business combination by July 21,
2008, the Company's directors and officers will take all action
necessary to dissolve the Company and liquidate the trust fund,
which contains the proceeds of the Company's initial public
offering. Accordingly, the Company will shortly begin the process
of liquidating and dissolving itself in accordance with its
certificate of incorporation and applicable law. The Company plans
to set a date for a Special Meeting of Stockholders to vote on its
plan of dissolution and liquidation and prepare a proxy statement
for distribution to stockholders in connection with the matters to
be voted on at the Special Meeting. The Company will notify
stockholders of the date of the Special Meeting when it has been
set by the Company's Board of Directors.
About Energy Infrastructure
Energy Infrastructure is a blank check company that was formed
for the specific purpose of consummating a business combination.
Energy Infrastructure raised net proceeds of approximately $209.3
million, after partial exercise of the underwriter's over-allotment
option, through its initial public offering consummated in July
2006.
Additional Information about the Dissolution and Liquidation and
Where to Find It
In connection with the Company's proposed dissolution and
liquidation, Energy Infrastructure intends to file a proxy
statement with the Securities and Exchange Commission. THE COMPANY
IS NOT NOW REQUESTING ANY PROXY. INVESTORS AND SECURITY HOLDERS ARE
ADVISED TO READ THE PROXY STATEMENT WHEN IT BECOMES AVAILABLE,
BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION. The final Proxy
Statement will be mailed to stockholders of Energy Infrastructure.
Energy Infrastructure stockholders may also obtain the Proxy
Statement and any other relevant filed documents for free at the
SEC's website (www.sec.gov). These documents can also be obtained
for free from Energy Infrastructure Acquisition Corp. by directing
a request to: Energy Infrastructure Acquisition Corp., Suite 1300,
1105 North Market Street, Wilmington, Delaware, 19899.
Contact: Energy Infrastructure Acquisition Corp. 1105 North
Market Street Suite 1300 Wilmington, Delaware 19801 Investor
Relations / Financial Media: Nicolas Bornozis President Capital
Link, Inc. 230 Park Avenue, Suite 1536 New York, NY 10169 Tel: +1
212 661 7566 Email: nbornozis@capitallink.com
www.capitallink.com
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