Arowana Inc. Announces Record Date for Extraordinary General Meeting of Shareholders
October 04 2016 - 10:35AM
Business Wire
Arowana Inc. (“ARWA”) (NASDAQ: ARWA, ARWAU, ARWAR, ARWAW), a
public investment vehicle formed for the purpose of effecting a
merger, acquisition or similar business combination, announced
today that holders of record of ARWA’s ordinary shares at the close
of business on October 7, 2016 (the “Record Date”) will be invited
to attend ARWA’s extraordinary general meeting of shareholders to
vote on, or submit a proxy to vote on, (A) a proposal to amend
ARWA’s amended and restated memorandum and articles of association
(the “charter”) to extend the date by which ARWA has to consummate
a business combination (the “Extension”) to January 9, 2017 and (B)
a proposal to amend ARWA’s charter to allow the holders of ordinary
shares issued in ARWA’s initial public offering (“IPO”) to elect to
convert their public shares into $10.20 per share, representing the
pro rata portion of the funds held in the trust account established
at the time of the IPO if the Extension is implemented. The full
meeting agenda will be detailed in a definitive proxy statement to
be mailed to all ARWA shareholders of record once ready. The
meeting of shareholders of ARWA has been tentatively scheduled for
November 3, 2016, which date is subject to change.
The purpose of the proposals to be presented at the
extraordinary general meeting is to allow ARWA more time to
complete an initial business combination. ARWA previously announced
a proposed business combination with VivoPower International PLC
(“VivoPower”) pursuant to a Contribution Agreement by and among
ARWA, Arowana International Limited, an Australian company
affiliated with ARWA’s officers, directors and shareholders
(“AWN”), and VivoPower, an England and Wales public limited company
and wholly-owned subsidiary of AWN. ARWA’s IPO prospectus and
charter provide that ARWA has only until November 6, 2016 to
complete a business combination. Accordingly, obtaining the
Extension would provide ARWA with additional time to complete the
transaction with VivoPower. Additionally, extending the date that
ARWA has to consummate a business combination to the Extended Date
would give ARWA time to consider taking steps necessary to pursue
an alternative business combination in the event that the
opportunity with VivoPower is unable to be completed for whatever
reason.
Ensuring Your Vote is Counted
In advance of the Record Date, ARWA advises holders of its
securities to move these securities into accounts that do not
permit the lending of securities, so called cash accounts or
segregated accounts, and out of accounts that permit the lending of
securities, such as margin accounts. These steps are designed to
ensure that votes related to ordinary shares beneficially owned by
shareholders are properly counted. Beneficial owners of ordinary
shares that have been lent out (either with or without the
beneficial owners’ knowledge) are not permitted to vote those
shares.
About Arowana Inc.
ARWA was incorporated in the Cayman Islands on October 1, 2014
as a blank check company whose objective is to acquire, through a
merger, share exchange, asset acquisition, stock purchase,
recapitalization, reorganization or other similar business
combination, one or more businesses or entities. ARWA’s efforts to
identify a prospective target business are not limited to a
particular industry or geographic region of the world although it
is focusing on target businesses located in the Asia Pacific region
(with a particular emphasis on South East Asia and Australia)
operating in the energy (including solar and alternative energy)
industry, or target businesses in such industry operating outside
of those geographic locations which is believed would benefit from
expanding their operations to such locations.
Safe Harbor
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. Actual results
may differ from expectations, estimates and projections and,
consequently, you should not rely on these forward looking
statements as predictions of future events. Words such as “expect,”
“estimate,” “project,” “budget,” “forecast,” “anticipate,”
“intend,” “plan,” “may,” “will,” “could,” “should,” “believes,”
“predicts,” “potential,” “continue,” and similar expressions are
intended to identify such forward-looking statements. These
forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially from the expected results.
Additional information concerning these and other risk factors
is contained in ARWA’s most recent filings with the SEC. All
subsequent written and oral forward-looking statements concerning
ARWA are expressly qualified in their entirety by the cautionary
statements above. ARWA cautions readers not to place undue reliance
upon any forward-looking statements, which speak only as of the
date made. ARWA does not undertake or accept any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statement to reflect any change in their
expectations or any change in events, conditions or circumstances
on which any such statement is based.
Disclaimer
This press release is not a proxy statement or solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the proposed transaction and shall not constitute an
offer to sell or a solicitation of an offer to buy the securities
of ARWA, nor shall there be any sale of any such securities in any
state or jurisdiction in which such offer, solicitation, or sale
would be unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161004006234/en/
Arowana Inc.Gary San HuiChief Financial Officer, Chief
Investment Officer and
Secretary+612-8083-9800investor.relations@arowanaco.com
Arowana Inc. - Rights (NASDAQ:ARWAR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Arowana Inc. - Rights (NASDAQ:ARWAR)
Historical Stock Chart
From Jul 2023 to Jul 2024