Contact Information: Contact: Energy Infrastructure Acquisition Corp. 1105 North Market Street, Suite 1300 Wilmington, Delaware 19801 Investor Relations / Financial Media: Nicolas Bornozis President Capital Link, Inc. 230 Park Avenue, Suite 1536 New York, NY 10169 Tel: +1 212 661 7566 Email: nbornozis@capitallink.com www.capitallink.com
Energy Infrastructure Acquisition Corp. Receives Non-Compliance Letter From the American Stock Exchange
| Source: Energy Infrastructure Acquisition Corp.
WILMINGTON, DE--(Marketwire - August 20, 2008) - Energy Infrastructure Acquisition Corp.
(AMEX : EII ) ("Energy Infrastructure" or the "Company") today announced
that it had received a letter on August 19, 2008 regarding non-compliance
with certain provisions of the American Stock Exchange ("Amex") Company
Guide.
On August 19, 2008, the Company received a letter from the American Stock
Exchange regarding the Company's non-compliance with Sections 134 and 1101
of the Amex Company Guide due to the Company's delay in filing its Form
10-Q for the quarter ended June 30, 2008. Additionally, as a result of the
resignation of Mr. Peter Blumen, who was a member of the Company's Board of
Directors as well as the Company's three person audit committee, the letter
from the Amex also discussed the Company's non-compliance with Sections
802(a) and 803B(2)(a) of the Amex Company Guide, which requires the
Registrant to have a majority of independent directors on its Board of
Directors as well as an audit committee comprised of three independent
directors.
The Company has until September 2, 2008 to submit a plan advising the Amex
of the actions it has taken, or will take, that would bring the Company
into compliance with section 134 and 1101 of the Amex Company Guide by no
later than November 17, 2008. The Company is currently in the process of
completing its review of its financial statements for the period ended June
30, 2008 and expects to complete such review and file its quarterly report
on Form 10-Q as soon as practicable. Additionally, the Company has until
the earlier of its next annual shareholders' meeting or July 20, 2009 to
regain compliance and appoint an independent director to serve on its board
and audit committee.
About Energy Infrastructure
Energy Infrastructure is a blank check company that was formed for the
specific purpose of consummating a business combination. Energy
Infrastructure raised net proceeds of approximately $209.3 million, after
partial exercise of the underwriter's over-allotment option, through its
initial public offering consummated in July 2006.
Forward-Looking Statements
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of the safe harbor provisions of the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements in this press
release include matters that involve known and unknown risks, uncertainties
and other factors that may cause actual results to differ materially from
results expressed or implied by this press release. The words "believe,"
"expect," "intend," "estimate," "anticipate," "will," "project,"
"forecast," "outlook" and similar expressions identify some, but not all,
of these forward-looking statements. You are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the
date of this press release. All forward-looking statements are qualified in
their entirety by this cautionary statement.