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

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:
(Date:11/27/2015)... ... 2015 , ... The men and women on this list ... the country. They have overseen financial turnarounds, shown commitment to their community through ... as a whole through their advocacy and professional efforts. , Becker's Hospital Review ...
(Date:11/27/2015)... San Francisco, California (PRWEB) , ... November 27, 2015 , ... ... 1969 Janis Joplin Ann Arbor Michigan boxing style concert posters. This is one of ... 1969 at the Canterbury House at the University of Michigan in Ann Arbor. The ...
(Date:11/26/2015)... ... 2015 , ... Patients at Serenity Point Recovery, a holistic ... Thanksgiving Day to share the things that they are most grateful for today. ... channel, patients displayed what they wrote on index cards, describing the things that ...
(Date:11/26/2015)... ... November 26, 2015 , ... CognisantMD and Cambridge ... imaging in the Waterloo region. Using the Ocean Platform, family physicians can now ... their electronic medical record (EMR) without the need for redundant patient entry or ...
(Date:11/26/2015)... ... November 26, 2015 , ... The Catalent ... and the need to integrate dose form selection in early phase drug development. ... membership organization supporting and bringing together the UK’s emerging life sciences companies, corporate ...
Breaking Medicine News(10 mins):
(Date:11/26/2015)... Research and Markets ( ) has announced the addition ... 2019 - Rise in Cardiac Disorders and Growing Awareness among ... offering. Boston scientific and ... and others. --> The market is dominated ... scientific and others. Asia ...
(Date:11/26/2015)... , Nov. 26, 2015 Research ... addition of the "2016 Future Horizons and ... (TDM) Market: Supplier Shares, Country Segment Forecasts, Competitive ... --> --> ... analysis of the Japanese therapeutic drug monitoring market, ...
(Date:11/26/2015)... DUBLIN , November 26, 2015 ... has announced the addition of the  ... in the Global Cell Surface Testing ... Opportunities" report to their offering.  ... the addition of the  "2016 Future ...
Breaking Medicine Technology: