Transforma Acquisition (stock symbol: [t]TAK[/t]), which announced on June 26, 2008 that it had qualified for an extension of the time required to complete an acquisition, which implies that they had signed a letter of intent, has never released any details related to that letter of intent. The Company has now announced plans to liquidate the company.
Transforma Acquisition Group Inc. to Seek Stockholder Approval to Liquidate and Dissolve
Friday November 21, 5:30 pm ET
NEW YORK--(BUSINESS WIRE)--Transforma Acquisition Group Inc. (NYSE Alternext US: TAQ, TAQ.U, TAQ.WS) (“Transforma”) announced today that its board of directors has determined that the company will not consummate a business combination by its December 26, 2008 deadline under its charter to do so, and that it is advisable that the corporation be dissolved. As a result, Transforma intends to convene a special meeting of its stockholders on December 22, 2008 to vote on a plan of liquidation and dissolution of the company. The record date for the special meeting is December 1, 2008.
As a result, the company intends to promptly begin the process of dissolution and liquidating its trust account in accordance with its charter and applicable Delaware law. The company expects that the amounts held in its trust account, together with the interest thereon (net of applicable taxes) will be returned to stockholders who bought the company’s stock. No payments will be made in respect of the company’s outstanding warrants or to any of the company’s initial stockholders with respect to any shares owned by them prior to the company’s initial public offering in December 2006.
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