Contact Information: Contact: Energy Infrastructure Acquisition Corp. 1105 North Market Street Suite 1300 Wilmington, Delaware 19801 Investor Relations / Financial Media: Nicolas Bornozis President Capital Link, Inc. 230 Park Avenue, Suite 1536 New York, NY 10169 Tel: +1 212 661 7566 Email: nbornozis@capitallink.com www.capitallink.com
Energy Infrastructure Acquisition Corp. Announces June 23 as Record Date for Its Upcoming Special Meeting of Stockholders
| Source: Energy Infrastructure Acquisition Corp.
WILMINGTON, DE--(Marketwire - June 10, 2008) - Energy Infrastructure Acquisition Corp.
(AMEX : EII ) (AMEX : EIIW ) ("Energy Infrastructure" or the "Company") today
announced that its board of directors established June 23, 2008 as the
record date for an upcoming special meeting of stockholders to vote on (i)
the merger of the Company with and into Energy Infrastructure Merger
Corporation ("EIMC"), its wholly-owned Marshall Islands subsidiary, for the
purpose of redomiciling the Company to the Marshall Islands as part of the
acquisition of nine companies from Vanship Holdings Limited and (ii) the
proposed acquisition of nine special purpose vehicles, or SPVs, each owning
one very large crude carrier, by EIMC from Vanship pursuant to the Share
Purchase Agreement among the Company, EIMC and Vanship.
About Energy Infrastructure
Energy Infrastructure is a blank check company that was formed for the
specific purpose of consummating a business combination. Energy
Infrastructure raised net proceeds of approximately $209.3 million, after
partial exercise of the underwriter's over-allotment option, through its
initial public offering consummated in July 2006. On December 3, 2007,
Energy Infrastructure entered into a Share Purchase Agreement, pursuant to
which Energy Infrastructure Merger Corporation, its wholly-owned
subsidiary, will purchase from Vanship Holdings Limited all of the
outstanding shares of each of nine SPVs, each SPV, owning one very large
crude carrier.
About Vanship
Vanship is a shipping company focused on the Asian market with high quality
Asian charterers such as DOSCO (Dalian Cosco), Sinochem Corporation,
Formosa Petrochemical Corp., S-Oil Corporation, SK Shipping Corp. and Sanko
Steamship Ltd. The company was established in 2001, and operates from Hong
Kong in both the tanker and dry bulk segments of the shipping industry.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning
of the safe harbor provisions of the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements in this press
release include matters that involve known and unknown risks, uncertainties
and other factors that may cause actual results to differ materially from
results expressed or implied by this press release. The words "believe,"
"expect," "intend," "estimate," "anticipate," "will," "project,"
"forecast," "outlook" and similar expressions identify some, but not all,
of these forward-looking statements. The following factors, among others,
could cause actual results to differ from those set forth in the
forward-looking statements: the failure of Energy Infrastructure's
stockholders to approve the stock purchase agreement and the transactions
contemplated thereby; the number and percentage of Energy Infrastructure's
stockholders voting against the acquisition; the inability of either the
Company, EIMC or Vanship to satisfy the conditions to completion of the
acquisition; continued compliance with government regulations; legislation
or regulatory environments, requirements or changes adversely affecting the
businesses in which Vanship is engaged; demand for the services that
Vanship provides, general economic conditions; geopolitical events and
regulatory changes, as well as other relevant risks detailed in Energy
Infrastructure's filings with the Securities and Exchange Commission,
including its annual report on Form 10-K for the period ended December 31,
2007. The information set forth herein should be read in light of such
risks. The Company and EIMC undertake no obligation and do not intend to
update these forward-looking statements to reflect events or circumstances
occurring after the date of this press release. You are cautioned not to
place undue reliance on these forward-looking statements, which speak only
as of the date of this press release. All forward-looking statements are
qualified in their entirety by this cautionary statement.
Additional Information about the Acquisition and Where to Find It
In connection with the pending transaction, EIMC has filed with the SEC a
Registration Statement on Form F-4, which includes a Proxy
Statement/Prospectus for the stockholders of Energy Infrastructure. The
stockholders of Energy Infrastructure are urged to read the Registration
Statement and the Proxy Statement/Prospectus, when it is available, as well
as all other relevant documents filed or to be filed with the SEC, because
they will contain important information about EIMC, Energy Infrastructure
and the proposed transaction. The final Proxy Statement/Prospectus will be
mailed to stockholders of Energy Infrastructure after the Registration
Statement is declared effective by the SEC. Energy Infrastructure
stockholders will be able to obtain the Registration Statement, the Proxy
Statement/Prospectus and any other relevant filed documents for free at the
SEC's website (www.sec.gov). These documents can also be obtained for free
from Energy Infrastructure Acquisition Corp. by directing a request to:
Energy Infrastructure Acquisition Corp., Suite 1300, 1105 North Market
Street, Wilmington, Delaware, 19899.