Turbo Power Systems Inc.
TSX : TPS
AIM : TPS

Turbo Power Systems Inc.

November 27, 2006 06:42 ET

Turbo Power Systems: Results of Special Meeting

CALGARY, ALBERTA--(CCNMatthews - Nov. 27, 2006) - Turbo Power Systems Inc. (the "Company") (TSX:TPS)(LSE:TPS), the innovative power generation and power conditioning equipment provider, is pleased to announce that all resolutions proposed at the Special Meeting held today were duly passed by shareholders.

Accordingly, the Company will now proceed to apply for the cancellation of the listing of the common shares of no par value ("Common Shares") on the Official List and trading on the London Stock Exchange's market for listed securities with effect from 8.00 am on Thursday 28 December 2006.

The Company will also complete the process of applying for application to trading of its Common Shares on AIM. Such admission is expected to take effect at 8.00 am on Thursday 28 December 2006.

The Company is also pleased to announce that written resolutions to enable certain loan notes in the company's subsidiary, Turbo Power Systems Limited, to be redeemed have been passed by the required 75% majority of holders of both the 2003 and 2005 Loan Notes respectively. Confirmations have been received from these Loan Note holders, that a minimum of Pounds Sterling 9,360,000 of Loan Notes will be redeemed on admission to AIM.

Copies of the approved resolutions from the Company's Special Meeting held earlier today will be submitted to the UK Listing Authority and will shortly be available for inspection at the UK Listing Authority's Document Viewing Facility, which is situated at:



Financial Services Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS


NOTES TO EDITORS

About Turbo Power Systems

Turbo Power Systems develops innovative products for power generation and power conditioning. The Group was established in 1993 as a spin-off from Imperial College, London and was floated on the London stock exchange in July 2000 and soon after obtained a secondary listing in Toronto. In July 2001, the Group acquired Intelligent Power Systems Limited (I-Power) specialising in power electronics.

Contact Information

  • Turbo Power Systems Inc.
    Michael Hunt
    Chief Executive Officer
    +44 (0)20 8564 4460
    or
    Turbo Power Systems Inc.
    Stephen Sadler
    Chief Financial Officer
    +44 (0)20 8564 4460
    Website: www.turbopowersystems.com
    or
    Gavin Anderson & Company (PR)
    Ken Cronin
    +44 (0)20 7554 1400
    or
    Gavin Anderson & Company (PR)
    Michael Turner
    +44 (0)20 7554 1400
    or
    KBC Peel Hunt
    Oliver Scott
    +44 (0)20 7418 8900
    or
    KBC Peel Hunt
    Gordon Suggett
    +44 (0)20 7418 8900