Alyst Acquisition Corp Alyst Acquisition Corp http://chinasecurities.com/ir/Alyst en-US 25 Jun 2009 14:30:00 GMT 11 Feb 2012 04:17:44 GMT [Press Release] Alyst Stockholders Approve Business Combination With China Networks Media message_2524 25 Jun 2009 14:30:00 GMT http://chinasecurities.com/ir/Alyst/messages/2524 NEW YORK, June 25 /PRNewswire-FirstCall/ -- (NYSE Amex: AYA) -- China Networks International Holdings, Ltd., a British Virgin Islands company ("CN Holdings") and Alyst Acquisition Corp., a special purpose acquisition company ("Alyst"), today announced that Alyst's stockholders approved its proposed business combination with China Networks Media, Ltd., a British Virgin Islands company. Alyst anticipates the acquisition will close on Friday June 26, 2009 or Monday June 29, 2009. In connection with the business combination, Alyst redomesticated to the British Virgin Islands through a merger with its wholly-owned subsidiary, CN Holdings, effective June 24, 2009. CN Holdings became the surviving entity and its ordinary shares, units and warrants will continue to trade on the NYSE Amex under CNR, CNR.U and CNR.W, respectively.

The business combination was approved by the holders of 6,888,079 common shares, representing 75.7% of the outstanding shares of common stock of Alyst. The holders of 2,146,156 common shares of Alyst elected to exercise their rights to convert their shares into cash, and will receive proceeds from Alyst's trust of $7.85 in cash per converted share of common stock.

About China Networks Media

China Networks Media is a television advertising company formed in 2007 for the purpose of investing in, consolidating, expanding and streamlining PRC television advertising assets in partnership with municipal and provincial level TV stations. In June 2008, CN Media raised $28 million in a private placement for the consolidation and operation of the advertising operations of two television stations: Kunming and Yellow River.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 about Alyst and CN Media and their combined business after completion of the proposed acquisition. Forward-looking statements are statements that are not historical facts and may be identified by the use of forward-looking terminology, including the words "believes," "expects," "intends," "may," "will," "should" or comparable terminology. Such forward-looking statements are based upon the current beliefs and expectations of Alyst's, CN Holdings' and China Networks Media's management and are subject to risks and uncertainties which could cause actual results to differ materially from the forward-looking statements.

Forward-looking statements are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry may differ materially from those made in or suggested by the forward-looking statements contained in this press release. These forward-looking statements are subject to numerous risks, uncertainties and assumptions. The forward-looking statements in this press release speak only as of the date of this press release and might not occur in light of these risks, uncertainties, and assumptions. CN Holdings undertakes no obligation and disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

]]> [Press Release] Alyst Acquisition Corp. Agrees to Repurchase Certain Shares of its Common Stock message_2503 23 Jun 2009 05:30:00 GMT http://chinasecurities.com/ir/Alyst/messages/2503 NEW YORK, June 22--Alyst Acquisition Corp. (NYSE Amex: AYA), a special purpose acquisition company ("Alyst" or the "Company"), today announced that it has entered into privately-negotiated arrangements with certain of its existing stockholders in order to secure the necessary favorable vote at its Special Meeting of Stockholders that will allow the proposed business combination to proceed. As of June 22, 2009, Alyst has agreed to repurchase more than 71% of the common shares held by its public stockholders after the closing of the proposed business combination with China Networks Media, Ltd. ("China Networks") for aggregate consideration of approximately $45 million. The holders of such shares have agreed to vote in favor of the business combination and related proposals to be considered at the Special Meeting of Stockholders on Wednesday, June 24, 2009.

As announced by Alyst on June 19, 2009, the arrangements described above will not decrease the amount of ordinary shares of China Networks International Holdings, Ltd. (the post-merger surviving entity ("CNIH")) due to amended merger agreement terms with China Networks that reduce the amount of cash consideration and increase the amount of stock consideration. For each Alyst share converted for trust proceeds or repurchased pursuant to the arrangements with Alyst stockholders, the common stockholders of China Networks will receive one ordinary share of CNIH. However, such arrangements, together with payments to stockholders who elect to convert their shares in connection with the Special Meeting procedures, will decrease the amount of cash available to CNIH post-merger. CNIH and China Networks expect to raise additional capital, either debt or equity, post-merger in the public or private markets to secure the necessary working capital to fund ongoing operations.

Background. Alyst announced on June 18 that the Special Meeting of Stockholders has been postponed to 4:30 p.m., Eastern time, on Wednesday, June 24, 2009. Alyst's stockholders of record as of May 29, 2009 will have the opportunity to submit their proxy, or change a previously submitted proxy, at any time prior to the commencement of the Special Meeting on June 24, 2009. At the postponed special meeting, stockholders of Alyst will be asked to approve, among other proposals, the proposed business combination with China Networks, and the related redomestication of Alyst to the BVI through a merger with CNIH. The postponed special meeting will be held at the offices of McDermott Will & Emery, LLP, 340 Madison Avenue, 2nd Floor, New York, New York 10173.

Alyst, CNIH, and China Networks and their respective directors and executive officers, and Chardan Capital Markets, Alyst's financial advisor, and its partners and directors, may be deemed to be participants in the solicitation of proxies for the Special Meeting of Alyst stockholders. In connection with the pending transaction, CNIH filed with the SEC a Registration Statement on Form S-4, File No. 333-157026, which was declared effected by the SEC on May 29, 2009. The stockholders of Alyst are urged to read the Registration Statement and the definitive proxy statement/prospectus, as well as all other relevant documents filed with the SEC. These documents contain important information about Alyst, CNIH, China Networks and the proposed transaction.

Stockholders may obtain a copy of the definitive proxy statement/prospectus and any other relevant filed documents at no charge from the SEC's website (www.sec.gov). These documents will also be available from Alyst at no charge by directing a request to 233 East 69th Street, #6J, New York, New York 10021. In addition, stockholders may direct their questions to Morrow & Co., LLC, 470 West Avenue, 3rd Floor, Stamford, CT 06902, toll-free (800) 662-5200. Alyst has engaged Morrow & Co., LLC to provide limited assistance in the proxy solicitation process.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 about Alyst and China Networks Media, Ltd. and their combined business after completion of the proposed acquisition. Forward-looking statements are statements that are not historical facts and may be identified by the use of forward-looking terminology, including the words "believes," "expects," "intends," "may," "will," "should" or comparable terminology. Such forward-looking statements are based upon the current beliefs and expectations of Alyst's and China Networks Media, Ltd.'s management and are subject to risks and uncertainties which could cause actual results to differ from the forward- looking statements.

Forward-looking statements are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry may differ materially from those made in or suggested by the forward-looking statements contained in this press release. These forward-looking statements are subject to numerous risks, uncertainties and assumptions. The forward-looking statements in this press release speak only as of the date of this press release and might not occur in light of these risks, uncertainties, and assumptions. Alyst undertakes no obligation and disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

]]> [Press Release] Alyst Acquisition Corp. and China Networks Media Agree to Amend Merger message_2496 19 Jun 2009 18:28:00 GMT http://chinasecurities.com/ir/Alyst/messages/2496 NEW YORK, June 19 /PRNewswire-FirstCall/ -- Alyst Acquisition Corp. (NYSE Amex: AYA), a special purpose acquisition company ("Alyst" or the "Company"), announced today that it has entered into a further amendment to the Merger Agreement with China Networks Media Ltd. (China Networks). Under the amended terms, the consideration to be received by the common shareholders of China Networks upon consummation of the merger agreement will not include any cash. Prior to this amendment, the merger agreement provided for the common shareholders of China Networks to receive a total of $10,000,000 in cash upon the closing.

In lieu of such cash consideration, the common shareholders of China Networks will receive as a group, one additional ordinary share of China Networks International Holdings, Ltd. (CNIH), the surviving corporation, for each share of Alyst that upon or after the closing of the merger: (i) is converted into the right to receive proceeds of the trust account, or (ii) is repurchased pursuant to certain arrangements into which Alyst has and will be entering into with its existing stockholders in order to secure a favorable vote at the pending Special Meeting of Stockholders.

Because each common share converted into cash or repurchased shall result in an additional share issued to the common shareholders of China Networks under the terms of the amended merger agreement, this amendment will not increase the total number of ordinary shares of CNIH outstanding beyond the amount that would be outstanding if the merger agreement had been approved and no Alyst stockholders had converted their shares into cash or had their shares repurchased.

Assuming 95% of the publicly held shares of Alyst and CNIH are either converted into cash or repurchased after the closing of the merger agreement, 75.3% of the common shares of CNIH will be held by the former China Networks common shareholders; 7.7% will be held by the former preferred stockholders of China Networks; and 17.0% will be held by the former stockholders of Alyst. Assuming 95% of the publicly held Alyst common shares are sold to CNIH or converted to cash, after consummation of the merger agreement the remaining Alyst public stockholders will retain 3.2% of the ordinary shares of CNIH.

This potential change in the post-merger stockholder base of CNIH would likely have the effect of altering the accounting for the merger from the forward acquisition by Alyst of China Networks described in Alyst's proxy statement/prospectus, to a reverse merger.

Alyst announced on June 18 that the Special Meeting of Stockholders has been postponed to 4:30 p.m., Eastern time, on Wednesday, June 24, 2009. Alyst's stockholders of record as of May 29, 2009 will have the opportunity to submit their proxy, or change a previously submitted proxy, at any time prior to the commencement of the Special Meeting on June 24, 2009. At the postponed special meeting, stockholders of Alyst will be asked to approve, among other proposals, the proposed business combination with China Networks, and the related redomestication of Alyst to the BVI through a merger with CNIH. The postponed special meeting will be held at the offices of McDermott Will & Emery, LLP, 340 Madison Avenue, New York, New York 10173.

Alyst, CNIH, and China Networks and their respective directors and executive officers, and Chardan Capital Markets, Alyst's financial advisor, and its partners and directors, may be deemed to be participants in the solicitation of proxies for the Special Meeting of Alyst stockholders. In connection with the pending transaction, CNIH filed with the SEC a Registration Statement on Form S-4, File No. 333-157026, which was declared effective by the SEC on May 29, 2009. The stockholders of Alyst are urged to read the Registration Statement and the definitive proxy statement/prospectus, as well as all other relevant documents filed with the SEC. These documents contain important information about Alyst, CNIH, China Networks and the proposed transaction.

Stockholders may obtain a copy of the definitive proxy statement/prospectus and any other relevant filed documents at no charge from the SEC's website (www.sec.gov). These documents will also be available from Alyst at no charge by directing a request to 233 East 69th Street, #6J, New York, New York 10021. In addition, stockholders may direct their questions to Morrow & Co., LLC, 470 West Avenue, 3rd Floor, Stamford, CT 06902, toll-free (800) 662-5200. Alyst has engaged Morrow & Co., LLC to provide limited assistance in the proxy solicitation process.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 about Alyst and China Networks Media, Ltd. and their combined business after completion of the proposed acquisition. Forward-looking statements are statements that are not historical facts and may be identified by the use of forward-looking terminology, including the words "believes," "expects," "intends," "may," "will," "should" or comparable terminology. Such forward-looking statements are based upon the current beliefs and expectations of Alyst's and China Networks Media, Ltd.'s management and are subject to risks and uncertainties which could cause actual results to differ from the forward- looking statements.

Forward-looking statements are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry may differ materially from those made in or suggested by the forward-looking statements contained in this press release. These forward-looking statements are subject to numerous risks, uncertainties and assumptions. The forward-looking statements in this press release speak only as of the date of this press release and might not occur in light of these risks, uncertainties, and assumptions. Alyst undertakes no obligation and disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

]]> [Press Release] Alyst Acquisition Announces Postponement of Special Meeting of Stockholders message_2488 18 Jun 2009 17:00:00 GMT http://chinasecurities.com/ir/Alyst/messages/2488 NEW YORK, June 18 /PRNewswire-FirstCall/ -- Alyst Acquisition Corp. (NYSE Amex: AYA), a special purpose acquisition company ("Alyst" or the "Company"), today announced that it has postponed its special meeting of stockholders, which had previously been scheduled for 9:30 a.m., Eastern time, on Tuesday, June 23, 2009, to 4:30 p.m., Eastern time, on Wednesday, June 24, 2009. At the postponed special meeting, stockholders of Alyst will be asked to vote on, among other proposals, the proposed business combination with China Networks Media, Ltd., a BVI company (China Networks), and the related redomestication of Alyst to the BVI through a merger with its wholly-owned subsidiary, China Networks International Holdings, Ltd. (CNIH). The postponed special meeting will be held at the offices of McDermott Will & Emery, LLP, 340 Madison Avenue, 2nd Floor, New York, New York 10173. The record date for stockholders entitled to vote on the proposals to be considered at the special meeting remains May 29, 2009.

Alyst, CNIH, and China Networks and their respective directors and executive officers, and Chardan Capital Markets, Alyst's financial advisor, and its partners and directors, may be deemed to be participants in the solicitation of proxies for the Special Meeting of Alyst stockholders. In connection with the pending transaction, CNIH filed with the SEC a Registration Statement on Form S-4, File No. 333-157026, which was declared effective by the SEC on May 29, 2009. The stockholders of Alyst are urged to read the Registration Statement and the definitive proxy statement/prospectus, as well as all other relevant documents filed with the SEC. These documents contain important information about Alyst, CNIH, China Networks and the proposed transaction.

Stockholders may obtain a copy of the definitive proxy statement/prospectus and any other relevant filed documents at no charge from the SEC's website (www.sec.gov). These documents will also be available from Alyst at no charge by directing a request to 233 East 69th Street, #6J, New York, New York 10021. In addition, stockholders may direct their questions to Morrow & Co., LLC, 470 West Avenue, 3rd Floor, Stamford, CT 06902, toll-free (800) 662-5200. Alyst has engaged Morrow & Co., LLC to provide limited assistance in the proxy solicitation process.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 about Alyst and China Networks Media, Ltd. and their combined business after completion of the proposed acquisition. Forward-looking statements are statements that are not historical facts and may be identified by the use of forward-looking terminology, including the words "believes," "expects," "intends," "may," "will," "should" or comparable terminology. Such forward-looking statements are based upon the current beliefs and expectations of Alyst's and China Networks Media, Ltd.'s management and are subject to risks and uncertainties which could cause actual results to differ from the forward- looking statements.

Forward-looking statements are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry may differ materially from those made in or suggested by the forward-looking statements contained in this press release. These forward-looking statements are subject to numerous risks, uncertainties and assumptions. The forward-looking statements in this press release speak only as of the date of this press release and might not occur in light of these risks, uncertainties, and assumptions. Alyst undertakes no obligation and disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

]]> [Press Release] Alyst Acquisition Corp. Provides Update on Value of Its Trust message_2383 09 Jun 2009 06:57:00 GMT http://chinasecurities.com/ir/Alyst/messages/2383 NEW YORK, June 9 /PRNewswire-FirstCall/ -- Alyst Acquisition Corp. (NYSE Amex: AYA), a special purpose acquisition company ("Alyst" or the "Company"), confirmed today that as of May 31, 2009, the trust maintained by Alyst for the benefit of its shareholders held $63,181,520, approximately $7.85 per publicly traded share, compared to $63,372,927 held in trust as of April 30, 2009, or approximately $7.88 per publicly traded share. The decrease in trust funds at May 31, 2009 is due to the withdrawal of $212,000 from available working capital to pay Alyst's operating expenses. Amounts distributable to Alyst's public stockholders in connection with the proposed business combination with China Networks Media, Ltd. (China Networks) may be affected by additional interest earned, tax refunds (if any), taxes payable, and further withdrawals of available working capital. During the month of May 2009, the Company earned $20,593 in interest on the funds held in the trust. As of May 31, 2009, the Company has withdrawn from the trust substantially all of the funds available to it for working capital.

On or about June 1, 2009, Alyst mailed to record holders of its common stock a definitive proxy statement/prospectus in connection with a Special Meeting to be held on June 23, 2009 to approve, among other things, the redomestication of Alyst to the British Virgin Islands through a merger with its subsidiary, China Networks International Holdings Ltd. (CNIH), and the merger between Alyst/CNIH and China Networks. Alyst is required under its charter documents to liquidate unless a business combination is consummated by June 29, 2009. Public stockholders who vote against the business combination may elect to convert their shares into cash as described in the proxy statement/prospectus.

Alyst, CNIH, and China Networks and their respective directors and executive officers, and Chardan Capital Markets, Alyst's financial advisor, and its partners and directors, may be deemed to be participants in the solicitation of proxies for the Special Meeting of Alyst stockholders. In connection with the pending transaction, CNIH has filed with the SEC a Registration Statement on Form S-4, File No. 333-157026, which was declared effected by the SEC on May 29, 2009. The stockholders of Alyst are urged to read the Registration Statement and the definitive proxy statement/prospectus, as well as all other relevant documents filed with the SEC. These documents contain important information about Alyst, CNIH, China Networks and the proposed transaction.

Stockholders may obtain a copy of the definitive proxy statement/prospectus and any other relevant filed documents at no charge from the SEC's website (www.sec.gov). These documents will also be available from Alyst at no charge by directing a request to 233 East 69th Street, #6J, New York, New York 10021. In addition, stockholders may direct their questions to Morrow & Co., LLC, 470 West Avenue, 3rd Floor, Stamford, CT 06902, toll-free (800) 662-5200. Alyst has engaged Morrow & Co., LLC to provide limited assistance in the proxy solicitation process.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 about Alyst and China Networks Media, Ltd. and their combined business after completion of the proposed acquisition. Forward-looking statements are statements that are not historical facts and may be identified by the use of forward-looking terminology, including the words "believes," "expects," "intends," "may," "will," "should" or comparable terminology. Such forward-looking statements are based upon the current beliefs and expectations of Alyst's and China Networks Media, Ltd.'s management and are subject to risks and uncertainties which could cause actual results to differ from the forward- looking statements.

Forward-looking statements are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry may differ materially from those made in or suggested by the forward-looking statements contained in this press release. These forward-looking statements are subject to numerous risks, uncertainties and assumptions. The forward-looking statements in this press release speak only as of the date of this press release and might not occur in light of these risks, uncertainties, and assumptions. Alyst undertakes no obligation and disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

]]> [Press Release] Alyst Acquisition Corp. Plan of Compliance Accepted by NYSE Alternext US message_2312 11 May 2009 16:41:00 GMT http://chinasecurities.com/ir/Alyst/messages/2312 NEW YORK, May 11 /PRNewswire-FirstCall/ -- Alyst Acquisition Corp. (NYSE Alternext US: AYA), a special purpose acquisition company ('Alyst' or the 'Company'), received written confirmation on May 9, 2009 from the NYSE Alternext US that its Plan of Compliance (submitted to the exchange on March 3, 2009) has been accepted and that the Company has been granted an extension until August 11, 2009 to regain compliance with the continued listing standards. Under Section 704 of the Company Guide, a company is required as part its continued listing requirements to hold an annual meeting of its stockholders; Alyst did not hold such a meeting in 2008. Under the terms of its certificate of incorporation, if Alyst does not consummate a business combination by June 29, 2009, it must dissolve. Alyst announced in August 2008 that it has entered into a merger agreement with China Networks Media, Ltd. A special meeting of stockholders to vote on the proposed combination is expected to be held in June 2009.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 about Alyst and China Networks Media, Ltd. and their combined business after completion of the proposed acquisition. Forward-looking statements are statements that are not historical facts and may be identified by the use of forward-looking terminology, including the words 'believes,' 'expects,' 'intends,' 'may,' 'will,' 'should' or comparable terminology. Such forward-looking statements are based upon the current beliefs and expectations of Alyst's and China Networks Media, Ltd.'s management and are subject to risks and uncertainties which could cause actual results to differ from the forward- looking statements.



Forward-looking statements are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry may differ materially from those made in or suggested by the forward-looking statements contained in this press release. These forward-looking statements are subject to numerous risks, uncertainties and assumptions. The forward-looking statements in this press release speak only as of the date of this press release and might not occur in light of these risks, uncertainties, and assumptions. Alyst undertakes no obligation and disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

SOURCE Alyst Acquisition Corp.


Source: PR Newswire (May 11, 2009 - 6:41 PM EDT)

]]> [Press Release] China Networks Media Signs Letter of Intent with Zhuhai Broadcasting and TV message_2313 18 Mar 2009 07:30:00 GMT http://chinasecurities.com/ir/Alyst/messages/2313 NEW YORK, March 18 /PRNewswire-FirstCall/ -- Alyst Acquisition Corp. (NYSE Amex: AYA), a special purpose acquisition company ('Alyst'), announced today that its merger target, China Networks Media Limited ('China Networks') entered into a letter of intent ('LOI'), dated February 27, 2009, with Zhuhai Broadcasting and Television Station ('Zhuhai TV'), containing the principal terms for the formation of a 50:50 joint venture (the 'Joint Venture') between China Networks and Zhuhai TV. If the transactions contemplated by the LOI are consummated, Zhuhai TV will join the China Networks' television joint ventures in Kunming and Yellow River as the newest member of its advertising network, expanding the population reach of China Networks to a total of approximately 38 million viewers.

Under terms of the LOI, Zhuhai TV will enter into contracts under which China Networks will, through the Joint Venture, act as the exclusive advertising arm for all Zhuhai TV's television channels for 20 years. Zhuhai TV will also contribute its library of media content to the Joint Venture. China Networks will pay approximately $11 million to Zhuhai TV to obtain a 50% ownership stake in the Joint Venture. China Networks will manage and control the Joint Venture and will consolidate the financial results thereof. Zhuhai TV will retain control over broadcasting operations and content decisions.

Zhuhai TV was established in 1985. Unaudited 2008 advertising sales for the station were approximately $12.6 million. Zhuhai TV broadcasts on two self-owned TV channels and four channels under an arrangement with Hong Kong TV stations. The station offers news, general, movie, drama series, English news, children shows, entertainment and government affairs programming to the approximate 1.5 million viewers in Zhuhai and surrounding areas.

Li Shuangqing, Chairman and Chief Executive Officer of China Networks stated, 'The addition of Zhuhai to our fast growing network of advertising joint ventures is the continuation of our plan to build a robust network of TV stations in secondary and tertiary markets in China. Major advertisers who previously had limited access to the viewers in these markets will now be afforded efficient access through our Beijing sales office.'

The transactions described by the LOI are contingent on, among other things, finalizing definitive documentation and completion of an audit of Zhuhai TV's advertising functions in accordance with US GAAP and PCAOB standards. China Networks management expects to execute definitive documentation covering the terms of the LOI before the end of June 2009 and for the contemplated transactions to be consummated prior to December 31, 2009. There can be no assurance, however, that a definitive agreement will be executed, the requisite audit completed or the contemplated transactions consummated within the expected timeframe or ever.

Alyst issued a press release on August 18, 2008, announcing it had entered into an agreement and plan of merger to acquire all of the issued and outstanding shares of China Networks, which owns and is acquiring broadcast television advertising rights in the People's Republic of China. As part of the transaction, Alyst proposes to redomesticate to the British Virgin Islands by means of merging with its wholly-owned subsidiary, China Networks International Holding Ltd. ('CNIH'), immediately prior to consummating its transaction with China Networks. On January 30, 2009 Alyst filed with the SEC a preliminary proxy statement and registration statement on Form S-4 in connection with the proposed merger.

About China Networks

China Networks is a television advertising company formed in 2007 for the purpose of investing in, consolidating, expanding and streamlining PRC television advertising assets in partnership with municipal and provincial level TV stations. In June 2008, China Networks raised $28 million in a private placement for the consolidation and operation of the advertising operations of two television stations: Kunming and Yellow River.

About Alyst

Alyst is a special purpose acquisition company formed in August 2006 for the purpose of acquiring, through a merger, asset acquisition or other similar business combination, an operating business. In July 2007, Alyst raised approximately $63.2 million from the issuance of its common stock and warrants. Alyst has until June 29, 2009 to complete a business combination. Alyst's principal offices are in New York City.

Safe Harbor Statement

Stockholders of Alyst are advised to read Alyst's preliminary proxy statement and, when available, Alyst's definitive proxy statement in connection with Alyst's solicitation of proxies for the special meeting because these statements will contain important information. The definitive proxy statement will be mailed to stockholders as of a record date to be established for voting on the proposed transaction. Once filed, stockholders will be able to obtain a copy of the definitive proxy statement and any other relevant filed documents for free at the SEC's website (www.sec.gov). These documents will also be available for free, once filed, from Alyst by directing a request to 233 East 69th Street, # 6J, New York, New York 10021.

In connection with the transaction, CNIH has filed with the SEC a registration statement on Form S-4. The stockholders of Alyst are also urged to read the registration statement, as well as all other relevant documents filed or to be filed with the SEC, because they will contain important information about Alyst, CNIH, China Networks and the proposed transaction.

Alyst, CNIH, China Networks and their respective directors and executive officers, and Chardan Capital Markets and its partners and directors, may be deemed to be participants in the solicitation of proxies for the special meeting of Alyst stockholders to be held to approve, among other things, the acquisition of all of the issued and outstanding shares of China Networks. Information regarding Alyst's directors and executive officers is available in its filings with the SEC and such information is available in the proxy statement and registration statement on file with the SEC in connection with the proposed acquisition. No person other than Alyst has been authorized to give any information or to make any representations on behalf of Alyst in connection with the acquisition, and if given or made, such other information or representations must not be relied upon as having been made or authorized by Alyst.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 about Alyst and China Networks and their combined business after completion of the proposed acquisition. Forward-looking statements are statements that are not historical facts and may be identified by the use of forward-looking terminology, including the words 'believes,' 'expects,' 'intends,' 'may,' 'will,' 'should' or comparable terminology. Such forward-looking statements are based upon the current beliefs and expectations of Alyst's and China Networks' management and are subject to risks and uncertainties which could cause actual results to differ materially from the forward-looking statements.

Forward-looking statements are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry may differ materially from those made in or suggested by the forward-looking statements contained in this press release. These forward-looking statements are subject to numerous risks, uncertainties and assumptions. The forward-looking statements in this press release speak only as of the date of this press release and might not occur in light of these risks, uncertainties, and assumptions. Alyst undertakes no obligation and disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

SOURCE Alyst Acquisition Corp.


Source: PR Newswire (March 18, 2009 - 8:30 AM EDT)

]]> [Broadcast] Welcome to Chinasecurities broadcast_25 09 Mar 2009 19:45:05 GMT http://chinasecurities.com/ir/Alyst/webcasts/25 [Photo] Alyst Management at AMEX photo_178 03 Mar 2009 16:10:16 GMT http://chinasecurities.com/ir/Alyst/photos Amex$20poselr]]> [Press Release] Alyst Acquisition Corp. to Submit Plan of Compliance to NYSE Alternext US message_2314 13 Feb 2009 07:01:00 GMT http://chinasecurities.com/ir/Alyst/messages/2314 NEW YORK, Feb. 13 /PRNewswire-FirstCall/ -- Alyst Acquisition Corp. (NYSE Alternext US: AYA), a special purpose acquisition company ('Alyst'), has confirmed that on February 10, 2009, it received a letter (the 'Letter'), from the NYSE Alternext US indicating that Alyst has not met one of the Exchange's continued listing standards due to the fact that Alyst did not hold an annual meeting of stockholders in 2008. Under Section 704 of the Company Guide, a company is required as part its continued listing requirements to hold an annual meeting of its stockholders. Alyst has been afforded the opportunity to submit to the Exchange a plan of compliance by March 10, 2009, advising the Exchange of action it has, or will, take to bring the company into compliance with Section 704 by August 11, 2009. If Alyst does not submit a plan or if the plan is not accepted by the Exchange, Alyst will be subject to delisting procedures as set forth in the Company Guide. Alyst has been informed by the Exchange that a similar letter was sent to all of its listed companies, including SPACs like Alyst, that did not hold an annual meeting in 2008.

On February 12, 2009, Alyst confirmed to the Exchange that it had received the Letter and advised the Exchange that it would submit a plan of compliance to the Exchange by March 10, 2009. Alyst further advised the Exchange that it had filed on January 30, 2009 a preliminary proxy statement with the Securities and Exchange Commission (the 'SEC') relating to a special meeting of stockholders in connection with Alyst's proposed business combination with China Networks Media Ltd. ('CN Media'). In addition, China Networks International Holding, Ltd. ('CN Holdings'), a wholly-owned British Virgin Islands subsidiary of Alyst, filed on January 30, 2009 a Registration Statement on Form S-4 to register certain securities to be issued to existing public shareholders of Alyst in connection with the business combination, should Alyst's shareholders approve the proposed business combination. The special meeting of Alyst's stockholders is subject to completion of the SEC's review of the preliminary proxy statement and, consequently, the exact date has not yet been set. Notwithstanding the foregoing, such meeting must be held and approval obtained prior to June 29, 2009, the date at which Alyst is otherwise required to dissolve under its existing charter documents.

About Alyst

Alyst is a special purpose acquisition company formed in August 2006 for the purpose of acquiring, through a merger, asset acquisition or other similar business combination, an operating business. In July 2007, Alyst raised approximately $63.2 million from the issuance of its common stock and warrants. Alyst has until June 29, 2009 to complete a business combination. Alyst's principal offices are in New York City.

Alyst issued a press release on August 18, 2008, announcing it had entered into an agreement and plan of merger to acquire all of the issued and outstanding shares of CN Media, which owns and is acquiring broadcast television advertising rights in the People's Republic of China. As part of the transaction, Alyst proposes to redomesticate to the British Virgin Islands by means of merging with its wholly-owned subsidiary, CN Holdings, immediately prior to consummating its transaction with CN Media.

Safe Harbor Statement

Stockholders of Alyst are advised to read Alyst's preliminary proxy statement and, when available, Alyst's definitive proxy statement in connection with Alyst's solicitation of proxies for the special meeting because these statements will contain important information. The definitive proxy statement will be mailed to stockholders as of a record date to be established for voting on the proposed transaction. Once filed, stockholders will be able to obtain a copy of the definitive proxy statement and any other relevant filed documents for free at the SEC's website (http://www.sec.gov). These documents will also be available for free, once filed, from Alyst by directing a request to 233 East 69th Street, # 6J, New York, New York 10021.

In connection with the proposed business combination, CN Holdings has filed with the SEC a registration statement on Form S-4. The stockholders of Alyst are also urged to read the registration statement, as well as all other relevant documents filed or to be filed with the SEC, because they will contain important information about Alyst, CN Holdings and the proposed transaction.

Alyst and its directors and executive officers may be deemed to be participants in the solicitation of proxies for the special meeting of Alyst stockholders to be held to approve, among other things, the acquisition of all of the issued and outstanding shares of China Networks Media, Ltd. Information regarding Alyst's directors and executive officers is available in its filings with the SEC and such information will be available in the proxy statements. No person other than Alyst has been authorized to give any information or to make any representations on behalf of Alyst or China Networks Media, Ltd. in connection with the acquisition, and if given or made, such other information or representations must not be relied upon as having been made or authorized by Alyst.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 about Alyst and China Networks Media, Ltd. and their combined business after completion of the proposed acquisition. Forward-looking statements are statements that are not historical facts and may be identified by the use of forward-looking terminology, including the words 'believes,' 'expects,' 'intends,' 'may,' 'will,' 'should' or comparable terminology. Such forward-looking statements are based upon the current beliefs and expectations of Alyst's and China Networks Media, Ltd.'s management and are subject to risks and uncertainties which could cause actual results to differ from the forward-looking statements.

Forward-looking statements are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry may differ materially from those made in or suggested by the forward-looking statements contained in this press release. These forward-looking statements are subject to numerous risks, uncertainties and assumptions. The forward-looking statements in this press release speak only as of the date of this press release and might not occur in light of these risks, uncertainties, and assumptions. Alyst undertakes no obligation and disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

SOURCE Alyst Acquisition Corp.


Source: PR Newswire (February 13, 2009 - 8:01 AM EST)

]]> [Press Release] Alyst to Submit Plan of Compliance to NYSE Alternext US message_496 13 Feb 2009 07:00:00 GMT http://chinasecurities.com/ir/Alyst/messages/496 NEW YORK, Feb. 13 /PRNewswire-FirstCall/ -- Alyst Acquisition Corp. (NYSE Alternext US: AYA), a special purpose acquisition company ("Alyst"), has confirmed that on February 10, 2009, it received a letter (the "Letter"), from the NYSE Alternext US indicating that Alyst has not met one of the Exchange's continued listing standards due to the fact that Alyst did not hold an annual meeting of stockholders in 2008. Under Section 704 of the Company Guide, a company is required as part its continued listing requirements to hold an annual meeting of its stockholders. Alyst has been afforded the opportunity to submit to the Exchange a plan of compliance by March 10, 2009, advising the Exchange of action it has, or will, take to bring the company into compliance with Section 704 by August 11, 2009. If Alyst does not submit a plan or if the plan is not accepted by the Exchange, Alyst will be subject to delisting procedures as set forth in the Company Guide. Alyst has been informed by the Exchange that a similar letter was sent to all of its listed companies, including SPACs like Alyst, that did not hold an annual meeting in 2008.

On February 12, 2009, Alyst confirmed to the Exchange that it had received the Letter and advised the Exchange that it would submit a plan of compliance to the Exchange by March 10, 2009. Alyst further advised the Exchange that it had filed on January 30, 2009 a preliminary proxy statement with the Securities and Exchange Commission (the "SEC") relating to a special meeting of stockholders in connection with Alyst's proposed business combination with China Networks Media Ltd. ("CN Media"). In addition, China Networks International Holding, Ltd. ("CN Holdings"), a wholly-owned British Virgin Islands subsidiary of Alyst, filed on January 30, 2009 a Registration Statement on Form S-4 to register certain securities to be issued to existing public shareholders of Alyst in connection with the business combination, should Alyst's shareholders approve the proposed business combination. The special meeting of Alyst's stockholders is subject to completion of the SEC's review of the preliminary proxy statement and, consequently, the exact date has not yet been set. Notwithstanding the foregoing, such meeting must be held and approval obtained prior to June 29, 2009, the date at which Alyst is otherwise required to dissolve under its existing charter documents.

About Alyst

Alyst is a special purpose acquisition company formed in August 2006 for the purpose of acquiring, through a merger, asset acquisition or other similar business combination, an operating business. In July 2007, Alyst raised approximately $63.2 million from the issuance of its common stock and warrants. Alyst has until June 29, 2009 to complete a business combination. Alyst's principal offices are in New York City.

Alyst issued a press release on August 18, 2008, announcing it had entered into an agreement and plan of merger to acquire all of the issued and outstanding shares of CN Media, which owns and is acquiring broadcast television advertising rights in the People's Republic of China. As part of the transaction, Alyst proposes to redomesticate to the British Virgin Islands by means of merging with its wholly-owned subsidiary, CN Holdings, immediately prior to consummating its transaction with CN Media.

Safe Harbor Statement

Stockholders of Alyst are advised to read Alyst's preliminary proxy statement and, when available, Alyst's definitive proxy statement in connection with Alyst's solicitation of proxies for the special meeting because these statements will contain important information. The definitive proxy statement will be mailed to stockholders as of a record date to be established for voting on the proposed transaction. Once filed, stockholders will be able to obtain a copy of the definitive proxy statement and any other relevant filed documents for free at the SEC's website (http://www.sec.gov). These documents will also be available for free, once filed, from Alyst by directing a request to 233 East 69th Street, # 6J, New York, New York 10021.

In connection with the proposed business combination, CN Holdings has filed with the SEC a registration statement on Form S-4. The stockholders of Alyst are also urged to read the registration statement, as well as all other relevant documents filed or to be filed with the SEC, because they will contain important information about Alyst, CN Holdings and the proposed transaction.

Alyst and its directors and executive officers may be deemed to be participants in the solicitation of proxies for the special meeting of Alyst stockholders to be held to approve, among other things, the acquisition of all of the issued and outstanding shares of China Networks Media, Ltd. Information regarding Alyst's directors and executive officers is available in its filings with the SEC and such information will be available in the proxy statements. No person other than Alyst has been authorized to give any information or to make any representations on behalf of Alyst or China Networks Media, Ltd. in connection with the acquisition, and if given or made, such other information or representations must not be relied upon as having been made or authorized by Alyst.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 about Alyst and China Networks Media, Ltd. and their combined business after completion of the proposed acquisition. Forward-looking statements are statements that are not historical facts and may be identified by the use of forward-looking terminology, including the words "believes," "expects," "intends," "may," "will," "should" or comparable terminology. Such forward-looking statements are based upon the current beliefs and expectations of Alyst's and China Networks Media, Ltd.'s management and are subject to risks and uncertainties which could cause actual results to differ from the forward-looking statements.

Forward-looking statements are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry may differ materially from those made in or suggested by the forward-looking statements contained in this press release. These forward-looking statements are subject to numerous risks, uncertainties and assumptions. The forward-looking statements in this press release speak only as of the date of this press release and might not occur in light of these risks, uncertainties, and assumptions. Alyst undertakes no obligation and disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

]]> [Press Release] Alyst Acquisition Corp. Appoints Stephen J. DeGroat as an Independent Director message_497 26 Jan 2009 12:51:00 GMT http://chinasecurities.com/ir/Alyst/messages/497 EW YORK, Jan. 26 /PRNewswire-FirstCall/ -- Alyst Acquisition Corp. (Amex: AYA - News), a special purpose acquisition company ("Alyst"), has confirmed that on January 20, 2009, Paul Levy, one of Alyst's independent directors resigned for personal reasons. There was no disagreement between Alyst and Mr. Levy that led to his resignation.

On January 23, 2009, Alyst's Board of Directors appointed Stephen J. DeGroat to the Company's Board as an independent director. Mr. DeGroat is a Managing Director with Channel Capital, LLC, an information services company and broker dealer in New York City. Channel Capital operates HedgeFund.Net; Private EquityCentral.Net and CapDial.Net. Mr. DeGroat is the former Chairman and CEO of Jesup & Lamont and began his career on Wall Street in 1984. In 2002, Mr. DeGroat, along with Apex Venture Partners, acquired Jesup & Lamont. As chairman of that firm, Mr. DeGroat built a team that focused primarily on developing the infrastructure and capabilities to complete PIPE and SPAC transactions, including Media & Entertainment Holdings and Alyst Acquisition Corp. In 2006, DeGroat sold Jesup & Lamont to Empire Financial Holding and resigned his position as Chairman of Jesup & Lamont in early 2008. Mr. DeGroat graduated from Fordham College, BA Economics. He has served as a director of public companies, including Patterson-UTI (PTEN).

Alyst also confirms that Michael E. Weksel, Alyst's Chief Financial Officer, Chief Operating Officer, Secretary and Director, has been appointed by China Networks Media, Ltd. (Alyst's merger partner) to serve as its Chief Financial Officer. Mr. Weksel will continue to serve Alyst in his current capacities and is expected post-merger to serve as Chief Financial Officer of the surviving entity, China Networks International Holdings, Ltd. (CNIH), currently a wholly-owned British Virgin Islands subsidiary of Alyst.

Alyst issued a press release on August 18, 2008, announcing it had entered into an agreement and plan of merger to acquire all of the issued and outstanding shares of China Networks Media, Ltd., which owns and is acquiring broadcast television advertising rights in the People's Republic of China. As part of the transaction, Alyst proposes to redomesticate to the British Virgin Islands by means of merging with its wholly-owned subsidiary, CNIH, immediately prior to consummating its transaction with China Networks Media, Ltd. Alyst expects to file with the SEC a preliminary proxy statement and registration statement on Form S-4 in connection with the proposed merger.

About Alyst

Alyst is a special purpose acquisition company formed in August 2006 for the purpose of acquiring, through a merger, asset acquisition or other similar business combination, an operating business. In July 2007, Alyst raised approximately $63.2 million from the issuance of its common stock and warrants. Alyst has until June 29, 2009 to complete a business combination. Alyst's principal offices are in New York City.

Safe Harbor Statement

Stockholders of Alyst are advised to read, when available, Alyst's preliminary proxy statement and Alyst's definitive proxy statement in connection with Alyst's solicitation of proxies for the special meeting because these statements will contain important information. The definitive proxy statement will be mailed to stockholders as of a record date to be established for voting on the proposed transaction. Once filed, stockholders will be able to obtain a copy of the definitive proxy statement and any other relevant filed documents for free at the SEC's website (http://www.sec.gov). These documents will also be available for free, once filed, from Alyst by directing a request to 233 East 69th Street, # 6J, New York, New York 10021.

In connection with the transaction, CNIH will file with the SEC a registration statement on Form S-4. The stockholders of Alyst are also urged to read the registration statement, when it is available, as well as all other relevant documents filed or to be filed with the SEC, because they will contain important information about Alyst, CNIH and the proposed transaction.

Alyst and its directors and executive officers may be deemed to be participants in the solicitation of proxies for the special meeting of Alyst stockholders to be held to approve, among other things, the acquisition of all of the issued and outstanding shares of China Networks Media, Ltd. Information regarding Alyst's directors and executive officers is available in its filings with the SEC and such information will be available in the proxy statements. No person other than Alyst has been authorized to give any information or to make any representations on behalf of Alyst or China Networks Media, Ltd. in connection with the acquisition, and if given or made, such other information or representations must not be relied upon as having been made or authorized by Alyst.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 about Alyst and China Networks Media, Ltd. and their combined business after completion of the proposed acquisition. Forward-looking statements are statements that are not historical facts and may be identified by the use of forward-looking terminology, including the words "believes," "expects," "intends," "may," "will," "should" or comparable terminology. Such forward-looking statements are based upon the current beliefs and expectations of Alyst's and China Networks Media, Ltd.'s management and are subject to risks and uncertainties which could cause actual results to differ from the forward- looking statements.

Forward-looking statements are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry may differ materially from those made in or suggested by the forward-looking statements contained in this press release. These forward-looking statements are subject to numerous risks, uncertainties and assumptions. The forward-looking statements in this press release speak only as of the date of this press release and might not occur in light of these risks, uncertainties, and assumptions. Alyst undertakes no obligation and disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

]]>