Shareholders OK International Assets purchase

Shareholders of International Assets approve purchase of FCStone Group

• On 4:07 pm EDT, Friday September 25, 2009

NEW YORK (AP) -- International Assets Holding Corp., a securities broker, said Friday the purchase of FCStone Group Inc. by its subsidiary International Assets Acquisition Corp. has been approved by shareholders of both companies.

FCStone is now a subsidiary of International Assets.

The merger is scheduled for completion on Wednesday, at which time shares of FCStone will stop trading on the Nasdaq.

Shareholders also approved an amendment to increase the number of authorized shares of International Assets common stock to 30 million shares from 17 million shares.

Shareholders also approved an amendment to establish a classified board of directors initially consisting of 13 members and a reduction in the size of the board to 11 members in 2012 and to nine members in 2013. The board will be eliminated in 2013.

Shares of International Assets gained 25 cents to $16.57, and FCStone rose 11 cents to $4.85 in late trading Friday.