NEW YORK, April 18 /Xinhua-PRNewswire/ -- Ascend Acquisition Corp. (OTC Bulletin Board: ASAQ, ASAQU, ASAQW) (“Ascend”), a public company organized for the purpose of acquiring an operating business, announced today that stockholders of record as of April 21, 2008 (the “Record Date”) will be invited to attend Ascend’s special meeting in lieu of annual meeting of stockholders to vote on the following six proposals: (1) to consider and vote upon a proposal to move the domicile of Ascend to Bermuda through an amalgamation of Ascend and ePAK International Limited (“ePAK”), a Bermuda subsidiary formed for the purpose of effecting the redomestication; (2) to approve the Agreement and Plan of Reorganization, dated as of July 20, 2007, as amended, by which ePAK would acquire all of the outstanding capital stock of e.PAK Resources (S) Pte. Ltd. (“e.PAK Resources”), (3) to consider and vote upon a proposal to increase the authorized common stock of the continuing public company from 30 million to 70 million shares; (4) to consider and vote upon a proposal to approve an equity-based incentive compensation plan for directors, officers, employees, consultants and others; (5) to consider and vote upon a proposal to have the continuing public company’s name be ePAK International Limited; and (6) to consider the adjournment, if necessary, of the special meeting to solicit proxies.
Ensuring Your Vote is Counted
In advance of the Record Date, Ascend advises holders of its securities to move these securities into accounts which 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 common and common shares beneficially owned by stockholders are properly counted. Beneficial owners of common shares that have been lent out (either with or without the beneficial owners’ knowledge) are not permitted to vote those shares.
About e.PAK Resources
e.PAK Resources was established in 1999 by a team of semiconductor industry veterans. e.PAK Resources’ product areas include IC transport, wafer, and electronic systems handling. The company’s products are sold globally to a blue chip customer list of semiconductor companies, equipment suppliers, and assembly and test vendors. The company’s low-cost, large-scale manufacturing operations in Shenzhen, PRC are centrally located to the semiconductor industry. e.PAK Resources is based in Singapore and maintains nine sales offices worldwide.
About Ascend Acquisition Corp.
Ascend Acquisition Corp. was formed on December 5, 2005 for the purpose of effecting a merger, capital stock exchange, asset acquisition or other similar business combination with an operating business. Ascend raised net proceeds of approximately $38.5 million through its initial public offering in May 2006.
Not a Proxy Statement
This press release is not a proxy statement or a solicitation of proxies from the holders of common stock of Ascend and does not constitute an offer of any securities of Ascend for sale. In connection with the proposed acquisition, Ascend has filed a preliminary proxy statement/prospectus with the Securities and Exchange Commission. INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THE DEFINITIVE PROXY STATEMENT/PROSPECTUS THAT WILL BE MAILED TO ALL STOCKHOLDERS OF RECORD BECAUSE IT CONTAINS IMPORTANT INFORMATION ABOUT ASCEND AND e.PAK RESOURCES. Any solicitation of proxies will be made only by Ascend’s definitive proxy statement/prospectus. Investors and security holders may obtain a free copy of the definitive proxy statement/prospectus and other documents filed by Ascend at the Securities and Exchange Commission’s web site at www.sec.gov.
This press release may contain certain forward-looking statements including statements with regard to the future performance of Ascend. Words such as “believes,” “expects,” “projects,” and “future” or similar expressions are intended to identify forward-looking statements. These forward-looking statements inherently involve certain risks and uncertainties that are detailed in Ascend’s filings with the Securities and Exchange Commission. Ascend undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
