To: Glenn Petersen who wrote (1960 ) 3/31/2009 9:26:10 PM From: Glenn Petersen Read Replies (1) | Respond to TM Entertainment & Media, Inc. (stock symbol: [t]TMI[/t]) has announced that is has settled its dispute with a dissident shareholder group:TM Entertainment and Media, Inc. Announces Settlement of Consent Solicitation Contest, Postponement of Annual Meeting of Stockholders In connection with the settlement, Bulldog has agreed (i) to cease its efforts to effectuate an early windup of the Company, (ii) not to oppose the board of directors at the next meeting of stockholders or otherwise seek to exercise control over the management of the Company, (iii) to withdraw its demand to force the Company to hold an annual meeting of stockholders, and (iv) to enter into a forward contract with the Company or a third party whereby Bulldog would not vote its shares against a proposed business combination. As part of the settlement, the Company has agreed to name one person to be designated by Bulldog to its Board of Directors, who will be independent of both Bulldog and the Company, qualify as an audit committee "financial expert" and otherwise be acceptable to the current members of the Board of Directors of the Company. That director is expected to be named sometime next week. In addition, the Company will reimburse Bulldog for certain expenses it incurred in connection with its consent solicitation and proposed proxy solicitation.finance.yahoo.com
