Navigation Links
China Healthcare Acquisition Corp. Announces Stockholder Approval of Charter Amendment to Permit Early Distribution of Its Trust Fund and to Permit Its Continued Existence Without Blank Check Company Provisions and Sets Payment Date
Date:3/5/2009

PASADENA, Calif., March 5 /PRNewswire-FirstCall/ -- China Healthcare Acquisition Corp. (the "Company") (NYSE Alternext US: CHM, CHM-U, CHM-WS) announced that at its annual meeting held today, March 5, 2009, its stockholders voted in favor of a charter amendment to allow the early distribution of the Company's trust fund for the benefit of its public stockholders of record as of March 5, 2009. Today's vote had the automatic effect of immediately canceling all shares issued in the Company's initial public offering and converting them into rights to receive a pro rata share of the trust fund distribution, expected to be $5.89 per share. The Company's units have separated into their component parts: two warrants and rights to receive the distribution for one share of common stock. Effective as of the close of business today, the Company's common stock [CHM] and units [CHM-U] held by its public shareholders will no longer be quoted on NYSE Alternext US and will no longer trade or be tradeable. The Company's warrants [CHM-WS] will no longer be quoted on NYSE Alternext US, but will remain outstanding in accordance with their terms, as disclosed in the Company's definitive proxy statement dated February 4, 2009. The Company's remaining stockholders voted to remove the blank check company restrictions from the Company's charter, allowing the Company to continue its corporate existence beyond its scheduled termination date of April 19, 2009.

The Company has set the payment date for distribution of the trust fund to holders of the Company's shares of common stock as March 10, 2009.

Commenting on today's stockholder actions, Alwin Tan, Chief Executive Officer, said "We are pleased that our stockholders approved these initiatives, which we believe are the best ways to preserve and create the most value for our stockholders. We have instructed the Trustee of the Company's trust fund, American Stock Transfer & Trust Company, to distribute the trust fund proceeds on the payment date in accordance with its usual procedures to the record holders of the Company's common stock as of March 5, 2009. We believe that virtually all of the shares of the Company's common stock are held of record in 'street name,' which means that the cash distributions will be sent through the securities industry clearing system to stock brokerage and other financial firms for final distribution to beneficial owners of the common stock. In general, stockholders should contact their financial advisors for details about the receipt and disposition of their share of the cash distribution."

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These forward-looking statements are based on current expectations and projections about future events and no party assumes an obligation to update any such forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about the Company that may cause actual results to be materially different from any future results expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "could," "would," "expect," "plan," "anticipate," "believe," "estimate," "continue" or the negative of such terms or other similar expressions.


'/>"/>
SOURCE China Healthcare Acquisition Corp.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Chindex International, Inc. to Participate in the Piper Jaffray & ChinaVenture Investment Conference 2009
2. China Shenghuo Announces Management Expansion and Enhanced Internal Controls
3. China Sky One Medical Inc. Gets SFDA Approval for Calcium Folinate Injection
4. China Nepstar Chain Drugstore to Announce Fourth Quarter and Fiscal 2008 Financial Results on March 16
5. University of the Rockies Faculty and Students Travel to China to Share Western Philosophy
6. QSAI & SGS-CSTC to Begin Joint Food Analysis Services in China
7. China Sky One Medical, Inc. Exports Sumei Slim Patch to South Korea and Sudan
8. China Healthcare Acquisition Announces Record Date for Trust Fund Distribution
9. Hard To Treat Diseases (HTDS) Closes Acquisition of Mellow Hope, China
10. China YCT International Group, Inc. Announces Third Quarter Fiscal 2009 Results
11. China Shenghuo Receives Notice from NYSE Alternext US Regarding Listing Standards
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/13/2017)... Pekin, IL (PRWEB) , ... October 13, 2017 ... ... Foundation, which established the certification process to promote standards of excellence for the ... iaedp™ Symposium, scheduled for March 22 – 25, 2018 in Orlando, Florida at ...
(Date:10/13/2017)... , ... October 13, 2017 , ... Lori R. Somekh, ... member of ElderCounsel, a national organization of elder law and special needs planning attorneys. ... and rules. It also provides a forum to network with elder law attorneys nationwide,” ...
(Date:10/13/2017)... ... October 13, 2017 , ... The Visiting Nurse Association (VNA) ... a collection of specialty vendors and unique items from across the nation, this holiday-themed ... and wellness services offered by the VNA. The boutique will be open Saturday, ...
(Date:10/13/2017)... ... ... Yisrayl Hawkins, Pastor and Overseer at The House of Yahweh, has released a ... books in the Holy Scriptures, Revelation. The Book of Revelation paints a picture of ... have tossed it off as mere rubbish, but Yisrayl Hawkins says that is because ...
(Date:10/13/2017)... ... October 13, 2017 , ... “The Journey: From the ... danger possible to save lost souls in the Philippines. “The Journey: From the Mountains ... a dedicated teacher of the Bible. She has taught all ages and currently teaches ...
Breaking Medicine News(10 mins):
(Date:10/2/2017)... 2017  AllianceRx Walgreens Prime, the combined central specialty ... pharmacy benefit manager Prime Therapeutics LLC (Prime), today officially ... the unveiling of new signage at its headquarters in ... at a few other company-owned facilities across the country. ... some of whom will begin to see the AllianceRx ...
(Date:9/28/2017)... , Sept. 28, 2017 Hill-Rom Holdings, ... 2017 earnings conference call and webcast on Friday, November ... a.m. (EDT) and ending at approximately 8:30 a.m. (CDT) ... discussing the company,s 2017 financial performance and guidance for ... opportunities, initiatives to enhance operational performance, and long-range financial ...
(Date:9/27/2017)... Sept. 27, 2017  DarioHealth Corp. (NASDAQ: DRIO), a leading global digital ... its MyDario product is expected to appear on The Dr. Oz Show ... Oz Show airs in your area: http://www.doctoroz.com/page/where-watch-dr-oz-show ... The nine-time Emmy award-winning, The Dr. Oz Show kicked off ... The segment features ...
Breaking Medicine Technology: