Energy Infrastructure Acquisition Corp. Receives Non-Compliance Letter From the American Stock Exchange
20 August 2008 - 10:35PM
Marketwired
Energy Infrastructure Acquisition Corp. (AMEX: EII) ("Energy
Infrastructure" or the "Company") today announced that it had
received a letter on August 19, 2008 regarding non-compliance with
certain provisions of the American Stock Exchange ("Amex") Company
Guide.
On August 19, 2008, the Company received a letter from the
American Stock Exchange regarding the Company's non-compliance with
Sections 134 and 1101 of the Amex Company Guide due to the
Company's delay in filing its Form 10-Q for the quarter ended June
30, 2008. Additionally, as a result of the resignation of Mr. Peter
Blumen, who was a member of the Company's Board of Directors as
well as the Company's three person audit committee, the letter from
the Amex also discussed the Company's non-compliance with Sections
802(a) and 803B(2)(a) of the Amex Company Guide, which requires the
Registrant to have a majority of independent directors on its Board
of Directors as well as an audit committee comprised of three
independent directors.
The Company has until September 2, 2008 to submit a plan
advising the Amex of the actions it has taken, or will take, that
would bring the Company into compliance with section 134 and 1101
of the Amex Company Guide by no later than November 17, 2008. The
Company is currently in the process of completing its review of its
financial statements for the period ended June 30, 2008 and expects
to complete such review and file its quarterly report on Form 10-Q
as soon as practicable. Additionally, the Company has until the
earlier of its next annual shareholders' meeting or July 20, 2009
to regain compliance and appoint an independent director to serve
on its board and audit committee.
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.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of the safe harbor provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements in this press release include matters that involve known
and unknown risks, uncertainties and other factors that may cause
actual results to differ materially from results expressed or
implied by this press release. The words "believe," "expect,"
"intend," "estimate," "anticipate," "will," "project," "forecast,"
"outlook" and similar expressions identify some, but not all, of
these forward-looking statements. You are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. All forward-looking
statements are qualified in their entirety by this cautionary
statement.
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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