TransTech Services Partners, Inc. Shareholders Approve Plan of Liquidation; Company To Distribute Amounts in Trust
NEW YORK, July 10 /PRNewswire-FirstCall/ -- TransTech Services Partners, Inc.("Company") today announced that its stockholders voted at its special meeting held on July 8, 2009 to approve the plan of liquidation of the Company.
The board of directors of the Company expects that the trustee of the Company's trust account will shortly make a final liquidating distribution of the trust account in the approximate amount of $7.88 per share of common stock issued in the Company's initial public offering, payable upon presentation, to the holders of such shares. Stockholders whose stock is held in "street name" through a broker will automatically receive payment through the Depository Trust Company. No payments will be made with respect to any of the Company's outstanding warrants or to the shares owned by the Company's initial stockholders that were owned prior to the Company's initial public offering.
The Company will file a certificate of dissolution with the Secretary of State of the State of Delaware and a Certification and Notice of Termination of Registration on Form 15 with the Securities and Exchange Commission for the purpose of deregistering its securities under the Securities Exchange Act of 1934, as amended. As a result, the Company will no longer be a public reporting company.
About TransTech Services Partners, Inc.
The Company is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase or other similar business combination.
Safe Harbor Statement
This press release contains certain statements that may include "forward looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the risk factors discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on the SEC's website ( http://www.sec.gov ). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
CONTACT: LM Singh of TransTech, +91 98113 48489; or +91 9815 80099