Exhibit 99.1
FOR IMMEDIATE RELEASE
NTR ACQUISITION CO. ANNOUNCES DATE AND AMOUNT OF DISTRIBUTION
Danbury, CT, February 2, 2009. NTR Acquisition Co. (AMEX, Units: NTQ.U, Common Stock: NTQ, Warrants: NTQ.WS), a special purpose acquisition company focused on the petroleum refining and marketing industry, announced today that it will make a first and final distribution of $10.03 per share to holders of record on January 30, 2009 of shares of NTR common stock issued in the initial public offering. The distribution is expected to be made on or before February 6, 2009.
As previously announced, NTR’s corporate existence terminated on January 30, 2009, in accordance with its charter and applicable law. At a special meeting held on January 25, 2009, NTR’s board of directors adopted a plan of distribution, effective as of the close of business January 30, 2009, pursuant to which NTR has instructed American Stock Transfer & Trust Company, the trustee of the trust account established in connection with NTR’s initial public offering, to distribute the proceeds of the trust account (net of $75,000 of accrued interest disbursed to NTR to pay certain expenses associated with NTR’s termination and winding up) to NTR’s public stockholders.
NTR also announced that the American Stock Exchange has suspended the trading, and NTR’s transfer agent has been instructed to cease recording transfers, of NTR’s units, common stock and warrants. NTR intends to submit a Certification of Termination of Registration on Form 15 to the Securities and Exchange Commission for the purpose of deregistering its securities under the Securities Exchange Act of 1934, as amended.
Any further questions regarding the distribution should be directed to Shareholder Services at American Stock Transfer & Trust Company at (800) 937-5449 or (718) 921-8124.
About NTR Acquisition Co.
NTR is a special purpose acquisition company organized under the laws of the State of Delaware on June 2, 2006. NTR was formed to acquire, through a merger, capital stock exchange, asset acquisition or other similar business combination, one or more businesses or assets in the energy industry, with a particular focus on businesses or assets involved in the refining, distribution and marketing of petroleum products in North America.
Forward Looking Statements
This press release contains forward-looking statements. Statements that are not historical facts, including statements about beliefs and expectations, are forward-looking statements. Although NTR believes that the assumptions on which the forward-looking statements contained herein are based are reasonable, any of those assumptions could prove to be inaccurate given the inherent uncertainties as to the occurrence or non-occurrence of future events. The factors that could cause actual results to differ from forward-looking statements contained herein include the risks and uncertainties set forth in NTR’s filings with the U.S. Securities and Exchange Commission (available at www.sec.gov).
Contacts:
Mario E. Rodriguez, Bill Hantke (203) 546-3437
Felix Orihuela, American Stock Transfer & Trust Company (718) 921-8360