Middle Kingdom Alliance (stock symbols: [t]MKGD[/t] and [t]MKGBB[/t]), which raised $29.2 million when it went public in December 2006, has announced that it has signed a letter of intent to acquire a company with operations in China. No other details were released.
Middle Kingdom Alliance Corp. Announces Signing of Letter of Intent
Friday May 23, 5:54 am ET
SHANGHAI, China and ATLANTA, May 23 /PRNewswire-FirstCall/ -- Middle Kingdom Alliance Corp. ("the Company") (OTC Bulletin Board: MKGD.OB - News, MKGDW.OB - News, MKGBB.OB - News, MKGBW.OB - News, MKGDU.OB - News, MKGBU.OB - News), today announced the that it has signed a letter of intent relating to a business combination. The target is a company with its principal operations in the Peoples Republic of China. The Company's intent is to enter into a definitive agreement with the target company in June 2008 and to file the preliminary proxy shortly thereafter. Pursuant to the Company's certificate of incorporation, execution of the letter of intent affords the Company a six-month extension for completion of the business combination, until December 13, 2008.
The consummation of the business combination is subject to, among other things, execution of a definitive agreement and required stockholder approval. There can be no assurance that the proposed transaction will be consummated.
<snip>
biz.yahoo.com |
