Dec 13 2010
GSME Acquisition Partners I (OTCBB: GSMXF, GSMEF, GSMWF) (“GSME”), a special purpose acquisition company formed for the purpose of acquiring an operating business having its primary business operations in the People’s Republic of China, today announced its shareholders have approved the Amended and Restated Agreement and Plan of Reorganization, as amended, with GSME Acquisition Partners I Sub Limited, Plastec International Holdings Limited (“Plastec”), and each of Sun Yip Industrial Company Limited (BVI), Tiger Power Industries Limited (BVI), Expert Rank Limited (BVI), Fine Colour Limited (BVI), Cathay Plastic Limited (BVI), Greatest Sino Holdings Limited (BVI), Colourful Asia International Limited (BVI) and Top Universe Management Limited (BVI).
The vote to approve the transaction took place today at an extraordinary general meeting of GSME’s shareholders. After payment to converting shareholders, it is anticipated that approximately $10 million will be disbursed from the trust account to GSME upon the closing of the transaction. The closing is conditioned on Plastec’s board of directors reconfirming its approval of the transaction. Assuming Plastec’s board reconfirms its approval, the parties expect the closing to occur as soon as possible thereafter. GSME will then issue another press release announcing the closing.
In connection with the transaction, GSME will change its name to Plastec Technologies, Ltd. and its securities will continue to trade on the OTCBB under the symbols GSMXF, GSMEF, and GSMWF. GSME has applied to have its securities listed for trading on the NASDAQ Stock Market and will continue to use its commercially reasonable efforts to obtain such listing following the closing. In addition to approving the merger, the GSME shareholders also approved certain amendments to GSME’s amended and restated memorandum and articles of association.
Source: http://www.plastec-int.com/