27th Nov 2006 11:15
Turbo Power Systems Inc27 November 2006 Monday November 27th 2006 Results of Special Meeting Turbo Power Systems Inc (the "Company"), the innovative power generation andpower conditioning equipment provider, is pleased to announce that allresolutions proposed at the Special Meeting held today were duly passed byshareholders. Accordingly, the Company will now proceed to apply for the cancellation of thelisting of the common shares of no par value ("Common Shares") on the OfficialList and trading on the London Stock Exchange's market for listed securitieswith effect from 8.00 am on Thursday 28 December 2006. The Company will also complete the process of applying for application totrading of its Common Shares on AIM. Such admission is expected to take effectat 8.00 am on Thursday 28 December 2006. The Company is also pleased to announce that written resolutions to enablecertain loan notes in the company's subsidiary, Turbo Power Systems Limited, tobe redeemed have been passed by the required 75% majority of holders of both the2003 and 2005 Loan Notes respectively. Confirmations have been received fromthese Loan Note holders, that a minimum of £9,360,000 of Loan Notes will beredeemed on admission to AIM. Copies of the approved resolutions from the Company's Special Meeting heldearlier today will be submitted to the UK Listing Authority and will shortly beavailable for inspection at the UK Listing Authority's Document ViewingFacility, which is situated at: Financial Services Authority25 The North ColonnadeCanary WharfLondonE14 5HS For further information, please contact: Turbo Power Systems Inc Tel: +44 (0)20 8564 4460Michael Hunt, Chief Executive OfficerStephen Sadler, Chief Financial Officer Gavin Anderson & Company (PR) Tel: +44 (0)20 7554 1400Ken CroninMichael Turner KBC Peel Hunt Tel: +44 (0)20 7418 8900Oliver ScottGordon Suggett Company Website: www.turbopowersystems.com NOTES TO EDITORS About Turbo Power Systems Turbo Power Systems develops innovative products for power generation and powerconditioning. The Group was established in 1993 as a spin-off from ImperialCollege, London and was floated on the London stock exchange in July 2000 andsoon after obtained a secondary listing in Toronto. In July 2001, the Groupacquired Intelligent Power Systems Limited (I-Power) specialising in powerelectronics. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
TPS.L