Australia Acquisition Corp. Receives Affirmation of Delisting
Notice on Hearings Panel Appeal
MELBOURNE, Australia,
Oct. 16, 2012 /PRNewswire/
-- Australia Acquisition Corp. ("AAC" or the "Company";
NASDAQ: AAC; AACOW; AACOU) today announced that on October 12, 2012 the Company received a letter
from the NASDAQ Stock Market LLC ("NASDAQ") advising that the
NASDAQ Hearings Panel (the "Panel") affirmed the determination of
NASDAQ's Listing Qualifications Staff to delist the Company's
ordinary shares, units and warrants (the "Listed Securities") from
the NASDAQ Capital Market due to the Company's failure to meet the
300 public holder requirement set forth in NASDAQ Listing Rule
5550(a)(3).
The Listed Securities will be suspended from trading on the
NASDAQ Capital Market effective at the open of business on
Tuesday, October 16, 2012. Effective
upon such delisting from NASDAQ, the Company anticipates that its
securities will be immediately eligible for quotation on the OTC
Bulletin Board.
The Company does not intend to request that the NASDAQ Listing
and Hearing Review Council (the "Council") review the Panel's
decision. NASDAQ indicated that the Council may, on its own
motion, determine to review the Panel decision within 45 calendar
days after issuance of the October 12,
2012 decision. If the Council determines to review this
decision, it may affirm, modify, reverse, dismiss or remand the
decision to the Panel.
About Australia Acquisition Corp.
Australia Acquisition Corp. is a special purpose acquisition
company formed for the purpose of effecting a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or
similar business combination. Australia Acquisition Corp. is
a Cayman Islands corporation
formed in 2010 with Peter Ziegler as
its Chairman and Chief Executive Officer, Charbel Nader as its Executive Vice President,
and Stephen Streeter as its Chief
Financial Officer and Executive Vice President.
Contacts:
Investor Inquiries
Rob Fink / Todd Fromer
KCSA Strategic Communications
212.896.1206 / 212.896.1215
rfink@kcsa.com / tfromer@kcsa.com
SOURCE Australia Acquisition Corp.