Amendment to Certificate of I

RNS Number : 5830Z

Titanium Asset Management Corp

22 July 2008

 



Titanium Asset Management Corp.

('Titanium' or the 'Company')

Amendment to Certificate of Incorporation

The Company announces that, with the approval of its majority shareholder, Clal Finance Ltd ('Clal Finance'), it has made an amendment to its Certificate of Incorporation.

The change relates to the terms on which the share of Convertible Restricted Stock in the Company can convert into Common Stock. Specifically the amended Certificate of Incorporation states that, whilst the Convertible Restricted Stock will continue to convert into Common Stock upon a person acquiring more than 50% of the voting rights in the Company (a 'Change of Control'), such conversion will not occur if the Change of Control is effected by Clal Finance unless Clal acquires 100% of the voting rights in any one or a series of related transactions.

The full terms of the amended Certificate of Incorporation can be found at the Company's website at 

www.ti-am.com .

For further information:

Titanium Asset Management Corp.

Nigel Wightman, Chairman and CEO                               [phone]

Seymour Pierce Ltd

Jonathan Wright                                                            [phone]

 

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