NEW YORK, Feb. 15, 2013 /PRNewswire/ -- China Growth
Equity Investment Ltd., a blank check company (the "Company")
(Nasdaq: CGEI; CGEIU; CGEIW), today announced that it has postponed
its shareholder meeting originally scheduled to take place on
February 21, 2013. The shareholder
meeting will be postponed until February 25,
2013 at 11:00 a.m.,
New York City time, at its
original location. The record date for the shareholder meeting
remains January 28, 2013.
Shareholders may tender their shares for redemption until
5:00 p.m. New York City time, February 22, 2013, in accordance with the
procedures described in the Company's definitive proxy statement
filed with the Securities and Exchange Commission on February 6, 2013. Shareholders who have
previously sent in proxy cards or given instructions to brokers do
not need to re-cast their votes.
About CGEI
China Growth Equity Investment Ltd. (Nasdaq: CGEI; CGEIU;
CGEIW), or CGEI, is a SPAC, also known as a blank-check company
incorporated as a Cayman
Islands-exempted company. CGEI intends to use the net
proceeds from its initial public offering for the purpose of
acquiring one or more operating companies through a merger, share
capital exchange, asset acquisition, share purchase, reorganization
or similar business combination. On October
25, 2012 CGEI and China Dredging Group Co., Ltd. ("CDGC")
entered into a definitive merger agreement for CGEI to merge with
CDGC and that CGEI and Fujian Provincial Pingtan County Ocean
Fishing Group Co., Ltd. ("Pingtan Fishing") entered into a
definitive agreement for CGEI to acquire Pingtan Fishing. The
parties expect the transactions to provide CDGC and Pingtan Fishing
with necessary financial resources for the companies' next stage of
growth. The combined entity, which will be renamed "Pingtan Marine
Enterprise Ltd.," intends to apply to be listed on NASDAQ under the
ticker symbol "PME". Upon completion of the merger and the
acquisition, Mr. Xinrong Zhuo, will
be the chairman of the combined company.
Disclaimer
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of securities in any jurisdiction in which the offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction.
No offering of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the Securities
Act of 1933, as amended.
Additional Information
In connection with the proposed business combination, CGEI has
prepared and filed with the U.S. Securities and Exchange Commission
(the "SEC") a definitive proxy statement on February 6, 2013. The definitive proxy statement
and a form of proxy will be mailed to the shareholders of CGEI.
Before making any voting decision, shareholders are urged to read
the proxy statement carefully and in its entirety because it will
contain important information about the proposed merger.
Shareholders will be able to obtain, without charge, a copy of the
proxy statement and other relevant documents filed with the SEC
when they become available through the SEC's website at
http://www.sec.gov. Shareholders will also be able to obtain,
without charge, a copy of the proxy statement and other relevant
documents when they become available by contacting CGEI's Corporate
Secretary, Chantelle Bai, at CN11
Legend Town, No.1 Balizhuangdongli, Chaoyang District, Beijing, 100025, P.R.C., telephone number
(+86-10-6550-3186), or by email to cbai@chum.com.cn.
Participants in the Solicitation
CGEI and its directors and officers may be deemed to be
participants in the solicitation of proxies from the shareholders
of CGEI in connection with the proposed business combination.
Information regarding the officers and directors of CGEI is
available in CGEI's annual report on Form 10-K for the year ended
December 31, 2012, which has been
filed with the SEC. Additional information regarding the interests
of such potential participants will also be included in the proxy
statement for the proposed business combination and the other
relevant documents filed with the SEC.
Forward-Looking Statements
This press release contains forward-looking statements that
reflect CGEI's current beliefs, expectations or intentions
regarding future events. Any statements contained in this press
release that are not statements of historical fact may be deemed
forward-looking statements. Words such as "to merge," "to name,"
"to receive," "will," "may," "could," "should," "expect,"
"expected," "proposed," "contemplated," "plan," "project,"
"intend," "anticipate," "believe," "estimate," "predict,"
"potential," "continue," and similar expressions are intended to
identify such forward-looking statements. These forward-looking
statements include, without limitation, CGEI's expectations with
respect to the combined company's plans, objectives, expectations
and intentions with respect to future operations; approval and
adoption of business combination by the requisite number of
shareholders; and the timing of the completion of the proposed
business combination. All forward-looking statements involve
significant risks and uncertainties that could cause actual results
to differ materially from those expressed or implied in the
forward-looking statements, many of which are generally outside the
control of CGEI's and are difficult to predict. Examples of such
risks and uncertainties include, but are not limited to: (i) the
failure of the business combination to close for any reason; (ii)
general business and economic conditions; (iii) the performance of
financial markets; (iv) risks relating to the consummation of the
contemplated business combination, including the risk that required
shareholder approval and regulatory agencies might not be obtained
in a timely manner or at all or that other closing conditions are
not satisfied; (v) the impact of the business combination on the
markets for the combined company's products and services; (vi) the
employees of CGEI, CDGC and Pingtan Fishing not being combined and
integrated successfully; (vii) operating costs and business
disruption following the business combination, including adverse
effects on employee retention and on CGEI's, CDGC's and Pingtan
Fishing's business relationships with third parties; (viii) the
inability of the combined company following the closing of the
business combination to meet NASDAQ's listing requirements and the
failure of the combined company's securities to be listed or
continue to be listed on NASDAQ; (ix) the amount of cash available
to the combined company following the business combination being
insufficient to allow CGEI, CDGC, Pingtan Fishing or the combined
company to achieve their business goals; and (xi) the future
performance of the combined company following the closing of the
business combination. Additional factors that could cause actual
results to differ materially from those expressed or implied in the
forward-looking statements can be found in the most recent annual
report on Form 10-K, and the subsequently filed quarterly reports
on Form 10-Q and current reports on Form 8-K filed by CGEI with the
SEC, as well as the proxy statement when it becomes available. CGEI
anticipates that subsequent events and developments may cause its
views and expectations to change. CGEI assumes no obligation, and
they specifically disclaim any intention or obligation, to update
any forward-looking statements, whether as a result of new
information, future events or otherwise.
SOURCE China Growth Equity Investment Ltd.
