Tatton Asset Management Regulatory News (TAM)

28 Sep 2007 07:03

Titanium Asset Management Corp28 September 2007 28 September 2007 Titanium Asset Management Corp. Result of Special Meeting Resolution Successfully Approved by an Overwhelming Majority of Shares Voted inFavour Titanium Asset Management Corp. ("Titanium" or the "Company") (AIM: TAM) is pleased to announce that at the Special Meeting of Stockholders held yesterday the Resolution was successfully carried by an overwhelming majority of 96.44% of votes in favour. The Special Meeting had been convened to approve the acquisition by Titanium ofthe entire issued and outstanding capital stock of Wood Asset Management Inc and Sovereign Holdings, LLC and of certain client mandates from Siesta Key Capital LLC (collectively, the "Acquisition"). The Acquisition, which constitutes a reverse takeover under the AIM Rules, isexpected to complete on 1 October 2007 whereupon all the issued Shares (excluding those Shares to be redeemed and those Founding Shares to be cancelled) and Warrants in the Company will be re-admitted to AIM. In connection with the vote at the Special Meeting, Stockholders representing approximately 82.8 per cent. of the issued Shares voted in favour of the Resolution, whilst only approximately 3.1 per cent. of the issued Shares were voted against the Resolution and elected to redeem and the remaining approximately 14.1 percent of issued Shares either abstained or did not vote. In accordance with Titanium's Certificate of Incorporation, a total of 119,200Founding Shares (comprising 95,360 Shares and 23,840 Restricted Shares) are to be purchased by Titanium at par value so that the aggregate number of Founding Shares shall not exceed 15.2% of the issued share capital of the Company (excluding those Shares to be issued as consideration on the Acquisition). Application has therefore been made for the admission to AIM of 22,993,731 Shares and 20,000,000 Warrants. Admission is expected to occur at 8am on 1 October 2007. For further information: Titanium Asset Management Corp.John Sauickie, Chief Executive Officer +1 941 524 5672Nigel Wightman, Executive Director + 44 7789 277849 Seymour Pierce LtdJonathan Wright +44 20 7107 8000 Penrose FinancialGay Collins +44 7798 626 282Kay Larsen +44 7747 631 614 This information is provided by RNS The company news service from the London Stock Exchange