The shareholders of Affinity Media International (stock symbol ([t]AFMI[/t]) has voted down the company's proposed acquisition of Hotels at Home, which means that Affinity is going to have to liquidate. Affinity was one of the smaller blank check IPOs.
Affinity Media International Corp. Announces Results of Special Meeting of Stockholders
Tuesday June 10, 9:30 am ET
NEW YORK, June 10 /PRNewswire-FirstCall/ -- Affinity Media International Corp. (OTC Bulletin Board: AFMI.OB - News; "Affinity"), a special purpose acquisition company, today announced that the proposal to approve the merger agreement with Hotels at Home, Inc. ("Hotels") was not approved by Affinity's stockholders. The Agreement and Plan of Merger (the "Agreement") by and among Affinity, Affinity Subsidiary Acquisition Corp. and Hotels dated as of July 24, 2007, as amended as of January 14, 2008 and as of May 7, 2008, may be terminated if the merger shall not have been consummated on or before June 9, 2008. After such termination, the board of directors of Affinity anticipates that the proposed merger with Hotels will be abandoned. The board of directors of Affinity will continue to evaluate alternatives that may be in the best interests of Affinity's stockholders, including the potential liquidation of Affinity.
About Affinity Media International Corp.
Affinity is a publicly traded acquisition corporation focused solely on acquiring businesses in the publishing industry. Affinity raised gross proceeds of approximately $18.9 million through its IPO completed in June 2006 led by Maxim Group LLC. For more information please visit www.affinitymedia.net.
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Source: Affinity Media International Corp.
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