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

To: Glenn Petersen who wrote (1976)	1/30/2009 10:40:14 AM
From: Glenn Petersen	Respond to of 3862

Trans-India Acquisition Corp. (stock symbol: [t]TIL[/t]) has announced that the company is going to liquidate. Trans-India Acquisition Corp. to Seek Stockholder Approval to Liquidate and Dissolve Friday January 30, 2009, 9:00 am EST CHICAGO--(BUSINESS WIRE)--Trans-India Acquisition Corp. (AMEX: TIL, TIL-U, and TIL-WT) announced today that its board of directors has determined that the company will not consummate a business combination by its February 14, 2009 deadline under its charter to do so, and that it is advisable that the corporation be dissolved. As a result, Trans-India intends to convene a special meeting of its stockholders on March 10, 2009 to vote on a plan of liquidation and dissolution of the company. The record date for the special meeting is February 13, 2009. 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 common stock. Assuming stockholder approval of the company’s plan of liquidation, the company expects to make an initial payment of $7.97 per common share. Further, upon completion of the company’s tax obligations the company currently expects to receive a small refund (of approximately $0.02 per common share), which it intends to distribute to stockholders at a later date. 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 February 2007. The Company intends to prepare and file with the Securities and Exchange Commission for mailing to its stockholders, as soon as practicable, a proxy statement seeking approval to effect the orderly liquidation and dissolution of the Company. <snip> biz.yahoo.com