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Technology Stocks : Blank Check IPOs (SPACS) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (1413)	7/18/2008 9:40:59 AM
From: Glenn Petersen	Read Replies (1) \| Respond to of 3862

Energy Infrastructure Acquisition (stock symbol: [t]EII[/t]) failed in its attempt to acquire Vanship Holdings and will now have to liquidate. Energy Infrastructure Acquisition Corp. Announces Termination of Share Purchase Agreement With Vanship Holdings; Intention to File Proxy for Dissolution and Liquidation Friday July 18, 8:00 am ET WILMINGTON, DE--(MARKET WIRE)--Jul 18, 2008 -- Energy Infrastructure Acquisition Corp. (EII - News) (EIIW - News) ("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. <snip> biz.yahoo.com