Asia Special Situation Acquisition Corp. Announces Entr
Ordinary Share Purchase Agreements
January 13, 2010 05:12 PM Eastern Time
GRAND CAYMAN, Cayman Islands--(EON: Enhanced Online News)--Asia Special Situation Acquisition Corp., a publicly held
acquisition company (NYSE Amex: CIO) (“ASSAC”), today announced it has entered into agreements to purchase an aggregate o
ordinary shares in privately negotiated transactions for a purchase price of $28,218,570 from shareholders who otherwise intended
previously announced proposed acquisition of up to three insurance companies and approximately $650.0 million of assets of two u
of hedge funds. The purchase of the shares will take place concurrently with or immediately following the closing of the acquisitions
will be paid for with funds that will be released from ASSAC’s trust account upon consummation of the acquisitions.
Pursuant to the agreements, the holders have agreed to vote, or granted a proxy to vote, their shares in favor of each of the sharehol
forth in the definitive proxy statement filed by ASSAC with the Securities and Exchange Commission on January 7, 2010.
Additional information regarding ASSAC and the related transactions is available in the proxy statement filed with the SEC on Janu
copy of which may be obtained without charge, at the SEC’s website at http://www.sec.gov.
About Asia Special Situation Acquisition Corp.
Asia Special Situation Acquisition Corp is a special purpose acquisition company formed in 2007 originally for the purpose of acqui
merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more
assets that is either located in Asia (which, for this purpose includes Australia), provides products or services to consumers located i
in Asia. Although, as will be described in our Proxy Statement, we have made concerted efforts to acquire one or more businesses l
providing products or services to customers located Asia, our board of directors has determined