Ameritrans Capital Corporations Stockholders Approve Issuance of up to $65M of Common Stock to Renova US Holdings

Ameritrans Capital Corporation AMTC, today announced that, at a Special Meeting of the stockholders of Ameritrans Capital Corporation held on June 24, 2011, its stockholders approved the issuance of up to $65 million of common stock to Renova US Holdings Ltd in accordance with the terms, and subject to the conditions, set forth in the Stock Purchase Agreement, dated April 12, 2011, between Ameritrans and Renova, as amended. In addition, at the Special Meeting, Ameritrans' stockholders approved the adoption of an Amended and Restated Certificate of Incorporation and an Investment Advisory Agreement with Ameritrans Capital Management, LLC, in the forms attached as Annexes II and III, respectively, to Ameritrans' revised definitive proxy statement filed with the Securities and Exchange Commission on May 31, 2011.