19 Jan 2011 07:00
Titanium Resources Group Limited
Shareholder Resolutions
19 January 2011: Titanium Resources Group ("TRG") is pleased to announce that, further to the announcement of 13 January 2011, it can confirm it has received valid Written Resolutions from a requisite majority of the Shares held by the Company's Independent Shareholders consenting to Pala Investments Holdings Ltd's ("Pala") acquisition of Leopard Titanium Limited's entire holding of 31,459,856 Ordinary Shares ("Shares") in TRG (the "Acquisition") without Pala being required to make an offer to the other holders of issued shares in TRG pursuant to Article 56A of TRG's Articles of Association.
As a result, the Written Resolutions have become effective and Pala Investments Holdings Ltd ("Pala") is not required to make an offer pursuant to Article 56A of TRG's Articles of Association to the other holders of issued Shares.
Commenting on the Acquisition, John Sisay, Chief Executive Officer of TRG, said,
"TRG is pleased to welcome Pala's continuing support for TRG. TRG is also pleased that the Written Resolution and Acquisition were so strongly supported by TRG's other shareholders as we believe this is representative of broad shareholder support for the current strategy of TRG."
A copy of the Written Resolutions is being sent to shareholders and is available on the Company's website.
ENDS
For further information:
Titanium Resources Group
John Sisay, Chief Executive Officer
Telephone: +44 (0) 20 7321 0000
Arbuthnot Securities
Nominated Advisor & Broker
Hugh Field / Richard Johnson
Telephone: +44 (0) 20 7012 2000
Aura Financial
Michael Oke / Andy Mills
Telephone: +44 (0) 20 7321 0000