Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Titanium Resources (SRX)

  Print      Mail a friend

Wednesday 11 July, 2007

Titanium Resources

Share Trade and Board Consent

Titanium Resources Group Ltd
11 July 2007

      Titanium Resources Group Ltd Share Transaction and TRG Board Consent

11 July 2007: The Board of Titanium Resources Group Ltd ('TRG' or the 'Company
'), a company incorporated in the British Virgin Islands, was informed yesterday
by Ospraie Management, LLC that funds managed by Ospraie Management LLC
(collectively, 'Ospraie') have purchased from Leopard Titanium Limited ('Leopard
') 26,892,476 common shares of TRG, representing 11% of the Company's issued
equity capital at a price of 65p per share.  Ospraie now holds 104,822,954
common shares, which represents 44.7% of TRG's issued equity capital. Leopard
now holds 23,427,856 common shares representing 10% of the Company's issued
equity capital.

Article 56A of the Company's Articles of Association (Takeover Provisions),
provides inter alia, that except with the consent of TRG's Board, when any
person acquires shares (whether in a single transaction or by a series of
transactions over a period of time) which, taken together with shares held by
such person or acquired by persons acting in concert with such person carry 30%
or more of the voting rights of the Company, such person ('the Offeror') shall
extend an offer to the holders of all the issued shares in the Company, on the
basis set out in Article 56A, in cash at not less than the highest price paid by
the Offeror or any person acting in concert with such person in the previous
twelve months. The highest price paid by Ospraie in the last twelve months for
TRG shares was 70p per share.

On 12 June 2007, the Board of TRG announced that it had consented to a waiver of
this obligation in the circumstances where Ospraie had just reached 32.29% of
TRG's issued share capital.  Ospraie recently approached TRG with a request for
a further waiver to increase their shareholding.

Prior to Ospraie's most recent purchase of TRG shares, the Board of TRG granted
consent to enable Ospraie to increase its shareholding to a maximum of 49%
without making a general offer. Before granting this consent, the TRG Board
considered, among other factors, the following:

  • The TRG Board believes that an offer at 70p per share would not reflect
    the current value and future prospects of the Company and accordingly would
    not be in the best interests of TRG shareholders when taken as a whole.

  • On Admission to AIM in August 2005, the Company already had a 48.2%
    shareholder in the form of Mr Jean-Raymond Boulle (whose shareholding was
    later announced as having been transferred to Leopard), so that exchanging
    one large shareholder for another should not be detrimental to other
    shareholders' interests.

  • At the request of the TRG Board, Ospraie has provided written confirmation
    that (i) it recognises the independence of TRG's  management and the TRG
    Board and the TRG Board's duty to act in the best interests of all TRG
    shareholders; (ii) it does not expect its increased shareholding to have any
    effect on the operations of the Company and (iii) if it were to increase its
    shareholding in TRG above 49% of TRG's issued share capital, it would extend
    a general offer, on the basis set out in Article 56A of TRG's Articles of

  • Ospraie and the Board of TRG have confirmed that they will ensure that any
    dealings between TRG and Ospraie are conducted on a fully arm's-length

  • With the commissioning of the dredges D2 and D3 on schedule, the Board
    believes the Company is well positioned to consolidate its position as one
    of the world's major natural rutile suppliers and that Ospraie's presence as
    a shareholder will be a positive factor in that process.

Information about Ospraie

Ospraie, founded in 2000 by Dwight Anderson, is a New York based investment
management firm focused on basic industries, natural resources and commodities
investing on a global basis.  Ospraie currently manages approximately US$6
billion and actively invests with a fundamentally driven, long-term perspective
in public and private equity and debt securities, and commodities. Ospraie
currently holds publicly reportable ownership positions in multiple companies in
various industries, including mining.


For further information:

Len Comerford / Walter Kansteiner
Titanium Resources Group Ltd                         Telephone: +44 20 7321 0000

Michael Oke / Andy Mills
Aura Financial                                       Telephone: +44 20 7321 0000

Nominated Adviser:  David Nabarro/John Wilkes
Nabarro Wells & Co. Limited                          Telephone: +44 20 7710 7400

                      This information is provided by RNS
            The company news service from the London Stock Exchange                     

a d v e r t i s e m e n t