12th Jun 2007 07:01
Titanium Resources Group Ltd12 June 2007 Titanium Resources Group Ltd Changes in Holdings by major shareholders 12 June 2007: Titanium Resources Group ("TRG" or "the Company"), incorporated inthe British Virgin Islands, announces the following changes to significantshareholdings in accordance with Rule 17 of the AIM Rules for Companies insofaras it has such information. The Company was notified on 8 June 2007 that following the disposal of 40million common shares (17.1%), Leopard Titanium Limited now holds 50,320,332common shares in TRG, representing 21.48% of TRG's total issued share capital. M&G Investment Management Limited acquired 19,482,692 common shares (8.3%) on 7June 2007 at a price of 65p per common share and now hold 23,425,000 commonshares, representing 9.99% of TRG's total issued share capital. Shareholders believed to be associated with Ospraie Management, LLC acquired20,000,000 common shares (8.5%) on 7 June 2007 at a price of 65p per commonshare. When taken together with common shares previously disclosed in the nameMorstan Nominees Limited, TRG understands that this group of shareholders nowholds 75,655,744 common shares, which total represents 32.29% of TRG's issuedshare capital. Article 56A of the Company's Articles of Association (Takeover Provisions),provides inter alia, that except with the consent of the Board, when any personacquires shares (whether in a single transaction or by a series of transactionsover a period of time) which, taken together with shares held or acquired bypersons acting in concert with him carry 30% or more of the voting rights of theCompany such person ("the Offeror") shall extend an Offer, on the basis set outin Article 56A in cash at not less than the highest price paid by the Offeror orany person acting in concert with it in the previous twelve months. The Board of TRG has consented to a waiver of this obligation in the presentcircumstances, because it believes that any such Offer would not reflect thecurrent value and future prospects of the Company and accordingly would not bein the best interests of TRG shareholders when taken as a whole. Ends For further information: Len Comerford / Walter KansteinerTitanium Resources Group LtdTelephone: +44 20 7321 0000 Michael Oke / Andy MillsAura FinancialTelephone: +44 20 7321 0000 Nominated AdviserJohn WilkesNabarro Wells & Co. LimitedTelephone: +44 20 7710 7400 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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