Titan Medical Gains Support for Amalgamation with Conavi
Titan Medical Inc. (TSX: TMD; OTC: TMDIF) is excited to announce that the independent proxy advisory firm, Institutional Shareholder Services (ISS), has recommended shareholders support the proposed amalgamation with Conavi Medical Inc. This endorsement is particularly important as Titan’s shareholders prepare for a key meeting set for late September.
Importance of the Recommendation
ISS is crucial in guiding many major institutional investors around the world, serving over 3,400 clients. They provide detailed and unbiased analyses, allowing these investors to make informed voting decisions. Their recommendation is based on the belief that this amalgamation represents a strategic opportunity for Titan, suggesting it could significantly boost shareholder value.
Strategic Growth Opportunities
The ISS report highlights that the amalgamation presents a solid option for ensuring Titan’s ongoing growth and enhancing its potential value. This partnership could not only strengthen Titan's financial position but also allow it to take advantage of reduced listing requirements on the TSX Venture Exchange (TSXV).
CEO’s Statement on ISS Endorsement
Following the recommendation, Paul Cataford, Titan’s Interim CEO and Board Chairman, expressed his positive outlook. He stated, "We are pleased that after reviewing the proposed business combination, ISS is recommending all shareholders vote for the Amalgamation. This independent analysis and recommendation validate our board’s unanimous decision to support the transaction with Conavi Medical Inc."
Voting Process and Shareholder Engagement
Titan encourages its shareholders to avoid any delays in casting their votes, highlighting the significance of every vote, no matter how many shares one holds. The deadline for submitting votes is September 26 at 4:00 PM Eastern Time.
Support for Shareholder Queries
Shareholders who need assistance or have questions about the meeting or voting process can contact the Shorecrest Group. They are reachable by phone at 1-888-637-5789, or +1-647-931-7454 for international calls, and they also provide support via email.
About Titan Medical Inc.
Titan Medical Inc. is an innovative medical technology company, established under the Business Corporations Act (Ontario), with its headquarters in Toronto. The company has built a comprehensive patent portfolio focused on advancing robotic-assisted surgery (RAS), prioritizing innovation through a single access point. Titan consistently seeks avenues to enhance and license its intellectual property.
Overview of Conavi Medical
Conavi Medical Inc. specializes in developing imaging technologies for minimally invasive cardiovascular procedures. Their flagship product, the Novasight Hybrid™ System, uniquely combines intravascular ultrasound (IVUS) and optical coherence tomography (OCT), having achieved regulatory approvals for clinical use in multiple markets, including the U.S. and Canada.
Frequently Asked Questions
What is the ISS recommendation regarding Titan Medical's amalgamation?
ISS recommends that Titan Medical shareholders vote in favor of the amalgamation with Conavi Medical, identifying it as a strategic opportunity for enhancing value.
Why is the amalgamation considered beneficial for shareholders?
It’s seen as a critical step to improve shareholder value by providing greater financial stability and growth opportunities for Titan.
When is the voting deadline for shareholders?
Shareholders must cast their votes by September 26 at 4:00 PM Eastern Time.
How can shareholders seek assistance with the voting process?
Shareholders can get in touch with the Shorecrest Group via phone or email for any questions or assistance related to the meeting and voting procedures.
What does Titan Medical focus on as a company?
Titan Medical concentrates on developing innovative technologies for robotic-assisted surgery and aims to enhance and license its extensive intellectual property portfolio.
