To: Glenn Petersen who wrote (2267 ) 2/10/2010 3:07:37 PM From: Glenn Petersen Read Replies (1) | Respond to BBV Vietnam (stock symbol: [t]BBVVF[/t]) has made arrangements with third party investors to buy up to 3,622,502 common shares of the company's stock from investors that had indicated that they were going to vote against the company's request to extend its corporate existence by one year. This represents 70% of the shares that were sold in the IPO, guaranteeing that the proposal will be approved.BBV Vietnam S.E.A. Acquisition Corp. Announces Entry Into Stock Purchase Agreement With Certain Investors it has entered into a definitive stock purchase agreement with certain investors, pursuant to which funds managed by such investors, or other purchasers acceptable to the investors and BBV (collectively such purchasers, the "Investors") may purchase up to an aggregate of 3,622,502 shares of BBV's common stock from third parties prior to BBV's Special Meeting of Stockholders held to vote upon a proposal to continue the life of BBV until February 13, 2011. The Investors are not affiliates of BBV, its officers and directors and/or their respective affiliates or Migami, the target with which BBV has entered into a letter of intent with respect to its initial business combination, or its officers and directors and/or their respective affiliates. It is anticipated the Investors will effect purchases of BBV common stock through independent, privately negotiated transactions with third parties who are institutions or other sophisticated investors that have voted against or indicated an intention to vote against the extension proposal which is described in BBV's definitive proxy statement filed with the Securities and Exchange Commission on January 29, 2010.The Investor purchases from third parties, if made, will increase the likelihood that holders of a majority of shares of BBV's common stock will vote in favor of the extension proposal and that holders of less than 30% of BBV's common stock issued in its initial public offering will vote against the extension proposal and seek conversion of their shares of Company common stock into cash in accordance with BBV's amended and restated articles of incorporation. finance.yahoo.com
