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Tremisis Energy Acquisition Corporation II Announces that Asiana Airlines, Inc. Has Completed Stock Purchase Requirement

Dépèche transmise le 16 octobre 2009 par Business Wire

SEOUL, Korea--(BUSINESS WIRE)--Tremisis Energy Acquisition Corporation II (NYSE Amex: TGY, TGY.U, TGY.WS) ("Tremisis") announced today that Asiana Airlines, Inc. has purchased 129,870 shares of Tremisis common stock in accordance with the Amended and Restated Securities Purchase Agreement between Tremisis, Asiana IDT Inc. and Asiana Airlines, Inc. dated October 1, 2009. The purchase was made at $7.89 per share. Upon closing of the purchase by Tremisis of the shares of Asiana IDT, Inc. from Asiana Airlines pursuant to the Securities Purchase Agreement, the shares of Tremisis common stock to be issued to Asiana Airlines together with the shares just purchased by Asiana Airlines will give Asiana Airlines 50% plus 1 share of the shares of Tremisis stock that will then be outstanding.

About Tremisis

Tremisis is a specified purpose acquisition company (SPAC), formed for the purpose of acquiring, or acquiring control of, through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination, one or more businesses or assets. On October 1, 2009, it entered into the Securities Purchase Agreement to acquire all of the stock of Asiana IDT, Inc., an information technology service company whose business is primarily in the Republic of Korea. The closing of the transaction is expected to take place later this year.