Ultimate Escapes Becomes First Publicly-Traded Luxury Destination Club
* Reuters is not responsible for the content in this press release.
* Secure America Acquisition Corporation Stockholders Approved Business
Combination with Ultimate Escapes Holdings, LLC
* Transaction Closed October 29, 2009
ARLINGTON, Va.--(Business Wire)--
Secure America Acquisition Corporation (NYSE Amex: HLD, HLD.U, HLD.WT) ("Secure
America" or the "Company") announced today that it has closed its business
combination with Ultimate Escapes Holdings, LLC following yesterday`s approval
of all of the proposals related to the business combination and the amendment of
certain terms of its warrants at Secure America`s special meeting of
stockholders and warrantholders. Secure America has changed its name to Ultimate
Escapes, Inc., and its common stock, warrants and units continue to trade on the
NYSE Amex under the same ticker symbols HLD, HLD.WT, and HLD.U, respectively.
However, it is anticipated that, on Friday, October 30, 2009, the Company`s
common stock, warrants and units will begin trading under the new ticker symbols
UEI, UEI.WT, and UEI.U, respectively, on the NYSE Amex.
"The closing of this transaction is an important milestone in the evolution of
Ultimate Escapes and the entire destination club industry," stated Jim
Tousignant, President and CEO of Ultimate Escapes. "As the only pure-play public
company luxury destination club, we are excited about the growth opportunities
that lie ahead in this highly attractive segment of the luxury leisure market
and are well positioned to take this business to the next level."
"We are very excited that our stockholders approved the business combination
with Ultimate Escapes," stated Mr. C. Thomas McMillen, former Chairman and
Co-Chief Executive Officer of Secure America. "We look forward to working with
the Ultimate Escapes management team, as it strengthens its position as the
premier operator of luxury destination clubs and builds shareholder value over
the long-term."
About Secure America Acquisition Corporation
Secure America Acquisition Corporation is a blank check company formed for the
purpose of acquiring, or acquiring control of, through a merger, capital stock
exchange, asset acquisition or other similar business combination, one or more
domestic or international operating businesses in the homeland security
industry, but not businesses that design, build or maintain mission-critical
facilities.
About Ultimate Escapes Holdings, LLC
Founded in 2004, Ultimate Escapes is the largest luxury destination club as
measured by number of club destinations and the second-largest destination club
as measured by number of members. Ultimate Escapes offers Members flexible
access to a growing collection of hundreds of multi-million dollar private
residences and luxury hotels in more than 150 global club and affiliate
destinations. Locations range from chic urban apartments to charming beach
cottages, spacious five-bedroom homes to an 80-foot private yacht. Each trip is
coordinated by experienced, knowledgeable staff, trained to handle every
vacation detail. Additional information about Ultimate Escapes and its club and
membership offerings can be found at www.ultimateescapes.com.
Forward Looking Statement
This press release contains forward-looking statements (as defined in Section
27A of the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended) concerning future events and Secure America`s
and Ultimate Escapes` growth strategy and measures to implement such strategy.
Words such as "expects," "intends," "plans," "believes," "anticipates," "hopes,"
"estimates," and variations of such words and similar expressions are intended
to identify forward-looking statements. Although Secure America and Ultimate
Escapes believes that the expectations reflected in such forward-looking
statements are reasonable, no assurance can be given that such expectations will
prove to have been correct. These statements involve known and unknown risks and
are based upon a number of assumptions and estimates, which are inherently
subject to significant uncertainties and contingencies, many of which are beyond
the control of Secure America and Ultimate Escapes. Actual results may differ
materially from those expressed or implied by such forward-looking statements.
Factors that could cause actual results to differ materially include, but are
not limited to, future operating or financial results; expectations regarding
the strength of the future growth of the luxury destination club industry;
future acquisitions, business strategy and expected capital spending; general
market conditions and industry trends; risks associated with operations outside
the United States; and other factors listed from time to time in Secure
America`s filings with the Securities and Exchange Commission at
http://www.sec.gov. Secure America and Ultimate Escapes expressly disclaims any
obligations or undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change in Secure
America`s or Ultimate Escapes` expectations with respect thereto or any change
in events, conditions or circumstances on which any statement is based.
Additional Information and Where to Find It
This press release is being made pursuant to and in compliance with Rules 145,
165 and 425 of the Securities Act of 1933, as amended, and does not constitute
an offer of any securities for sale or a solicitation of an offer to buy any
securities. Secure America, Ultimate Escapes and their respective directors and
officers are deemed to be participants in the solicitation of proxies for the
special meetings of Secure America`s stockholders and Secure America`s
warrantholders to be held to approve the transactions described in its
preliminary proxy statement. The underwriters of Secure America`s initial public
offering may provide assistance to Secure America, Ultimate Escapes and their
respective directors and executive officers, and may be deemed to be
participants in the solicitation of proxies. A substantial portion of the
underwriters` fees relating to Secure America`s initial public offering were
deferred pending stockholder approval of Secure America`s initial business
combination, and stockholders are advised that the underwriters have a financial
interest in the successful outcome of the proxy solicitation. In connection with
the proposed business combination and amendment to the warrant agreement, Secure
America has filed with the Securities and Exchange Commission a definitive proxy
statement. Secure America`s stockholders and warrantholders are advised to read
the definitive proxy statement and other documents filed with the Securities and
Exchange Commission in connection with the solicitation of proxies for the
special meetings because these documents will contain important information. The
definitive proxy statement has been mailed to Secure America`s stockholders and
warrantholders of record date as of the close of business on October 13, 2009.
Secure America`s stockholders and warrantholders will also be able to obtain a
copy of the definitive proxy statement, without charge, by directing a request
to: Secure America Acquisition Corporation, 1005 North Glebe Road, Suite 550,
Arlington, VA 22201. The preliminary proxy statement and definitive proxy
statement, once available, can also be obtained, without charge, at the
Securities and Exchange Commission`s website at http://www.sec.gov.
Investor Relations:
ICR
Devlin Lander, 415-419-5606
devlin.lander@icrinc.com
or
Media:
Turner PR
Aliza Rothman, 303-333-1402
aliza@turnerpr.com
Copyright Business Wire 2009
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