Trans-India Acquisition Corp. and the stockholders of Solar Semiconductor Ltd. have mutually agreed to terminate the share exchange agreement dated Oct. 24, 2008, pursuant to which Trans-India was to acquire at least 80% of Solar Semiconductor Ltd.
The agreement is described in more detail in the Current Report on Form 8-K filed by Trans-India with the Securities and Exchange Commission on Oct. 27, 2008, Trans-India notes. The parties mutually agreed to the termination due to the time constraints of the transaction and the current market conditions.
SOURCE: Trans-India
