TAC Acquisition Corp.: TAC Acquisition Corp. Announces Results of the Special Meeting of Stockholders on December 29, 2006
TAC Acquisition Corp. Announces Results of the Special Meeting of Stockholders on December 29, 2006
GREENWICH, CT — (MARKET WIRE) — December 29, 2006 — TAC Acquisition Corp. (OTCBB: TACA) (OTCBB: TACAU) (OTCBB: TACAW) announced today that the
holders of a majority of thecommon stock of TAC entitled to vote at the special meeting of thestockholders held today, voted against the proposal to consummate abusiness combination with AVIEL Systems, Inc., as presented in the TACproxy statement dated December 7, 2006. As a result, TAC and AVIEL havejointly determined to terminate the merger agreement by and among TAC,AVIEL and R. John Chapel, the sole shareholder of AVIEL.
TAC intends to promptly begin the process of liquidating its trust accountin accordance with its charter and applicable Delaware law.
About TAC Acquisition Corp.
TAC Acquisition Corp. is a publicly traded company formed for the purposeof acquiring an operating business in the following technology-relatedsectors: software, IT services, media, telecommunications, semiconductor,hardware, internet and technology-enabled services. Approximately $120million of net proceeds were raised through TAC’s initial public offeringin June 2005 (symbols: TACA, TACAU, TACAW).
Forward-looking Statements
This press release contains forward-looking statements subject to theinherent uncertainties in predicting future results and conditions. Anystatements that are not statements of historical fact (including statementscontaining the words “believes,” “plans,” “anticipates,” “expects,”"estimates” and similar expressions) should also be considered to beforward-looking statements. Certain factors could cause actual results andconditions to differ materially from those projected in theseforward-looking statements. These factors are identified from time to timein our filings with the Securities and Exchange Commission. We undertake noobligation to update such statements to reflect subsequent events.
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