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Penfold Capital Acquisition II Corporation &; Penfold Capital Acquisition III Corporation announce intention to combine

^{Published on 2010-07-19 07:05:26 - Market Wire}
 

 (i) each issued and outstanding share of Penfold II will be exchanged for one-half of one (0.5) share of the Resulting Issuer; (ii) each issued and outstanding share of Penfold III will be exchanged for one (1) share of the Resulting Issuer; (iii) each convertible security of Penfold II will automatically entitle the holder thereof to purchase one-half of one (0.5) share of the Resulting Issuer at an exercise price equal to the exercise price specified in the agreement governing such convertible security; and (iv) each convertible security of Penfold III will automatically entitle the holder thereof to purchase one (1) share of the Resulting Issuer at an exercise price equal to the exercise price specified in the agreement governing such convertible security.