ROI Acquisition Corp. II Announces Withdrawal of Stockholder and Warrantholder Proposals and Planned Redemption of Publicly-Held Common Stock

NEW YORK, Oct. 26, 2015 /PRNewswire/ -- ROI Acquisition Corp. II (NASDAQ: ROIQ; ROIQW; ROIQU) (the "Company") announced today that it has withdrawn the stockholder and public warrantholder proposals relating to its previously announced proposed business combination with Ascend Telecom Holdings Limited.  Under the Company's amended and restated certificate of incorporation, as amended (the "Charter"), the Company has until October 26, 2015 to either consummate a business combination or redeem 100% of the shares of common stock issued in its initial public offering ("Public Shares").  The Company does not expect to complete a business combination by such date and, accordingly, plans to redeem all of the Public Shares for a per share amount, determined in accordance with the Charter, of approximately $10.00 per share. Payment of such amounts will constitute the Company's final payment in respect of the liquidation of the trust account that holds the proceeds of the Company's initial public offering. The record date for the redemption payment is set as October 26, 2015 and, therefore, anyone who purchases shares of the Comany's common stock after this date will not be entitled to receive any redemption payments.  There will be no distributions with respect to the Company's warrants.  The Company expects trading of its securities on the Nasdaq Capital Market to halt as of the close of trading on October 26, 2015.

About ROI Acquisition Corp. II

The Company is a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination involving the Company and one or more businesses.

Forward Looking Statements

This press release may include "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements are qualified in their entirety by this cautionary statement.

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SOURCE ROI Acquisition Corp. II

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