Company Still Working Toward Completing Acquisition by August 2007
SAN DIEGO & BEIJING--(BUSINESS WIRE)--Chardan North China Acquisition Corp. (OTCBB: CNCA, CNCAU, CNCAW) ("Chardan North" or “the Company”), a SPAC® incorporated in March 2005 for the purpose of acquiring an operating entity in the PRC, announced today that its Board of Directors has set August 7, 2007 as the date for its Special Meeting of Stockholders to consider and approve amendments to its certificate of incorporation to:
i) eliminate the provision that purports to prohibit amending its
"business combination" provisions;
ii) extend the date before which Chardan North must complete a
business combination ("Extension Amendment"), to avoid being
required to liquidate, beyond August 10, 2007 to November 10,
2007; and
iii) allow holders of up to 20% of the shares issued in Chardan
North's IPO who vote against the Extension Amendment and elect
conversion to convert their shares into cash held in the IPO
trust account.
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