DT Asia Investments Limited Announces Record Date for Special Meeting of Shareholders to Approve Business Combination
June 03 2016 - 7:30AM
Business Wire
DT Asia Investments Limited (NASDAQ: CADT; CADTW; CADTU;
CADTR) (“DT Asia” or the “Company”) today announced that, the
Company has set a record date of June 8, 2016 for the special
meeting of shareholders (the “Special Meeting”) to approve the
Company’s proposed business combination with Adrie Global Holdings
Limited (“Adrie”). The Company’s shareholders at the close of
business on the record date are entitled to receive notice of the
Special Meeting and to vote the ordinary shares owned by them at
the Special Meeting and at any adjournment or postponement
thereof.
As announced previously, the Company intends to acquire all of
the outstanding shares and other equity interests in Adrie, which
primarily conducts its business through its variable interest
entity, Urumqi Feng Hui Direct Lending Limited (the “Business
Combination”). Following the Business Combination, the Company will
be renamed China Lending Corporation; while proposed ticker symbol
for the ordinary shares and warrants on the Nasdaq Capital Market
will be “CLDC” and “CLDCW,” respectively.
At the Special Meeting, and at any adjournment or postponement
thereof, shareholders will be asked to approve and adopt the
previously-announced share exchange agreement, dated as of January
11, 2016, by and among Adrie, each of Adrie’s shareholders, the
Company’s sponsor, DeTiger Holdings Limited, as the representative
for the Company’s shareholders prior to the closing of the Business
Combination, and Li Jingping as the representative for the sellers,
and such other proposals as disclosed in the proxy statement
relating to the Special Meeting. If the Business Combination is
approved by DT Asia shareholders, the Company anticipates closing
the Business Combination shortly after the Special Meeting subject
to the satisfaction or waiver (as applicable) of all other closing
conditions, including but not limited to DT Asia raising at least
$12 million in proceeds in a private placement financing that will
close immediately prior to the Business Combination.
About DT Asia
DT Asia is a blank check company, also commonly referred to as a
Special Purpose Acquisition Company, or SPAC, formed for the
purpose of acquiring, engaging in a share exchange, share
reconstruction and amalgamation, purchasing all or substantially
all of the assets of, entering into contractual arrangements, or
engaging in any other similar business combination with one or more
businesses or entities. DT Asia’s units, ordinary shares, rights
and warrants are currently listed on the Nasdaq Capital Market
under the symbols “CADTU,” “CADT,” “CADTR” and “CADTW,”
respectively.
Additional Information About the Business Combination and
Disclaimer
The proposed Business Combination will be submitted to
shareholders of the Company for their consideration. The Company
has filed with the Securities and Exchange Commission (the “SEC”)
an amended preliminary proxy statement on May 6, 2016. After the
SEC completes its review of the preliminary proxy statement, the
Company intends to file with the SEC a definitive proxy statement
in connection with the Business Combination and other matters and
will mail a definitive proxy statement and other relevant documents
to its shareholders as of the record date. The Company’s
shareholders and other interested persons are advised to read the
preliminary proxy statement and any amendments thereto and, once
available, the definitive proxy statement, in connection with the
Company’s solicitation of proxies for the Special Meeting to be
held to approve, among other things, the Business Combination,
because these documents will contain important information about
the Company, Adrie and the Business Combination. Shareholders may
also obtain a copy of the proxy statement as well as other
documents filed with the SEC that will be incorporated by reference
in the proxy statement, without charge, at the SEC’s website
located at www.sec.gov or by directing a request to DT Asia
Investments Limited, Attn: Steve Cannon, Chief Executive Officer,
Room 703, 7/F. Beautiful Group Tower, 77 Connaught Road Central,
Hong Kong or by telephone at (852) 3976 9901. This press release
does not constitute an offer to sell or the solicitation of an
offer to buy any securities, or a solicitation of any vote or
approval, nor shall there be any sale of securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
Participants in the Solicitation
DT Asia and its directors and executive officers may be deemed
to be participants in the solicitations of proxies from the DT
Asia’s shareholders in respect of the Business Combination.
Information regarding DT Asia’s directors and executive officers
and a description of their direct and indirect interests, by
security holdings or otherwise, is contained in DT Asia’s
preliminary proxy statement filed with the SEC on May 6, 2016.
Additional information regarding the participants in the proxy
solicitation and a description of their direct and indirect
interests is contained in the proxy statement, which can be
obtained free of charge from the sources indicated above.
Forward-Looking Statements
This press release may include forward-looking statements within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995. All statements, other
than statements of historical facts, included in this press release
that address activities, events or developments that DT Asia
expects or anticipates will or may occur in the future are
forward-looking statements and are identified with, but not limited
to, words such as “may,” “believe” and “expect.” These statements
are based on certain assumptions and analyses made by DT Asia in
light of its experience and its perception of historical trends,
current conditions and expected future developments as well as
other factors it believes are appropriate in the circumstances.
Actual results may differ materially from those expressed herein
due to many factors such as, but not limited to, (1) the occurrence
of any event, change or other circumstances that could give rise to
the termination of the share exchange agreement with Adrie; (2) the
outcome of any legal proceedings that may be instituted against DT
Asia or Adrie following the announcement of the proposed Business
Combination and related transactions; (3) the inability to complete
the transactions contemplated by the share exchange agreement due
to the failure to obtain approval of DT Asia’s shareholders,
consummate the anticipated private placement financing or satisfy
other conditions to the closing of the proposed Business
Combination ; (4) the ability to obtain or maintain the listing of
DT Asia’s securities on the NASDAQ Capital Market following the
proposed Business Combination; (5) the risk that the proposed
Business Combination disrupts the parties’ current plans and
operations as a result of the announcement and consummation of the
transactions described herein; (6) the ability to recognize the
anticipated benefits of the proposed Business Combination, which
may be affected by, among other things, competition and the ability
of the combined business to grow and manage growth profitably; (7)
costs related to the proposed Business Combination; (8) changes in
applicable laws or regulations; (9) the possibility that DT Asia or
Adrie may be adversely affected by other economic, business, and/or
competitive factors; and (10) other risks and uncertainties
indicated from time to time in the proxy statement filed by DT Asia
in connection with the proposed Business Combination, including
those under “Risk Factors” therein, and other factors identified in
DT Asia’s prior and future filings with the SEC, available at
www.sec.gov. These statements speak only as of the date they are
made and DT Asia undertakes no obligation to update any
forward-looking statements contained herein to reflect events or
circumstances which arise after the date of this press release.
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version on businesswire.com: http://www.businesswire.com/news/home/20160603005336/en/
DT AsiaDT Asia Investments LimitedEmily Tong, Chairman of
the BoardorStephen N Cannon, Chief Executive
OfficerInvestorrelations@DTAsiaInvest.comorInvestor
Relations:The Equity Group Inc.Lena Cati,
212-836-9611Vice Presidentlcati@equityny.com
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