Overture Acquisition Corp. Announces Termination of Master Agreement
January 29 2010 - 4:38PM
Business Wire
Overture Acquisition Corp. (NYSE Amex:NLX) (the “Company”) today
announced that the proposed business combination will not occur.
While a majority of the shareholders approved the business
combination, the percentage of no votes exceeded the 30% threshold
amount set froth in the Company’s amended and restated memorandum
and articles of association (the “Articles”) and therefore the
required approval was not obtained, despite the support of the
Company’s warrantholders. The Company will promptly notify the
trustee to begin distributing proceeds from the trust account as
soon as practicably possible.
The Company’s Articles provide that if the Company is not able
to consummate a business combination by January 30, 2010, an
automatic winding up of the Company shall be triggered and the
Company will be liquidated accordingly. The Company cannot make any
assurance as to when such liquidation will be completed. The
Company will begin the process of liquidating and dissolving in
accordance with its Articles and applicable laws of the Cayman
Islands.
About Overture Acquisition
Corp.
Overture Acquisition Corp. is a special purpose acquisition
corporation incorporated in the Cayman Islands on September 25,
2007 as an exempted company. It is a company formed for the purpose
of effecting a merger, share capital exchange, asset acquisition,
share purchase, reorganization or similar business combination,
with one or more businesses.
Forward-Looking
Statements
This press release may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
regarding Overture. Forward-looking statements are statements that
are not historical facts. Such forward-looking statements, which
are based upon the current beliefs and expectations of the
management of Overture, are subject to risks and uncertainties,
which could cause actual results to differ from the forward-looking
statements. None of Overture assumes any obligation to update the
information contained in this release. For more information on the
Company, please refer to SEC filings at www.sec.gov or visit www.overtureac.com.
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