2020 ChinaCap Acquirco, Inc. Announces Expected Transfer of Listing to Nasdaq
October 02 2009 - 4:00PM
Marketwired
2020 ChinaCap Acquirco, Inc. (the "Company") (NYSE Amex: TTY) (NYSE
Amex: TTY.WS) (NYSE Amex: TTY.U) announced today that it has been
approved to list its common stock, warrants and units, and expects
to begin trading on the Nasdaq Stock Market on October 12, 2009,
under the symbols TTY, TTY.WS and TTY.U, respectively. The
Company's common stock, warrants and units will continue to trade
on the NYSE Amex under the symbols TTY, TTY.WS and TTY.U,
respectively, through the end of the trading day on October 9,
2009. The expected transfer of the Company's listing is taking
place in connection with the proposed redomestication of the
Company in the British Virgin Islands through a merger with its
wholly-owned subsidiary, Exceed, Ltd. and subsequent proposed
acquisition by Exceed of Windrace International Company Ltd., each
of which is subject to approval by the stockholders of the Company.
Exceed has applied to list its securities on the Nasdaq Stock
Market upon the consummation of the redomestication and
acquisition.
ABOUT 2020 CHINACAP ACQUIRCO, INC.
2020 is a public acquisition company organized as a corporation
under the laws of the State of Delaware on August 21, 2006. It was
formed to effect a business combination with an unidentified
operating business having its operations in China. In November
2007, it consummated its IPO from which it derived gross proceeds
of $69 million, including proceeds from the exercise of the
underwriters' over-allotment option. $68 million of the net
proceeds of the IPO and a private placement completed prior to the
IPO were deposited in a trust account and such funds and a portion
of the interest earned thereon will be released only upon the
consummation of the business combination or to holders of 2020's
common stock in connection with its liquidation and dissolution.
Other than its IPO and the pursuit of a business combination, 2020
has not engaged in any business to date.
FORWARD LOOKING STATEMENTS
The transaction described herein is subject to a number of risks
and uncertainties, including, but not limited to, the satisfaction
of certain conditions to the closing of the proposed merger,
including the risk that stockholder approval might not be obtained
in a timely manner or at all.
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
regarding future events and future performance of 2020. These
statements are based on management's current expectations or
beliefs. Actual results may vary materially from those expressed or
implied by the statements herein. This information is qualified in
its entirety by cautionary statements and risk factor disclosure
contained in certain of 2020's Securities and Exchange Commission
filings. For a description of certain factors that could cause
actual results to vary from current expectations and
forward-looking statements contained in this press release, refer
to documents that 2020 files from time to time with the Securities
and Exchange Commission. 2020 is under no obligation to, and
expressly disclaims any obligation to, update or alter its
forward-looking statements, whether as a result of new information,
future events, changes in assumptions or otherwise.
INVESTOR RELATIONS CONTACT Devlin Lander ICR (415) 292-6855
2020 Chinacap Acquirco, (AMEX:TTY.U)
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