Zoetic International PLC Listing on the OTC (8835S)
November 11 2019 - 1:00AM
UK Regulatory
TIDMZOE
RNS Number : 8835S
Zoetic International PLC
11 November 2019
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO
CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE
MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF
THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE
IN THE PUBLIC DOMAIN.
11 November 2019
Zoetic International plc
("Zoetic International" or the "Company")
Listing on the OTC
Zoetic International is pleased to announce that its ordinary
shares will start trading on the OTC market in the United States
and that trading is expected to commence on Tuesday 12 November
2019.
The Company's ordinary shares will cross-trade onto the OTCQB
Venture Market which is a market designed to enable developing
international companies to be publicly traded in the United States.
As a London Stock Exchange listed company, obtaining a listing on
the OTCQB has been a cost-effective process for Zoetic
International, with there being no need to file a prospectus or
similar document. Furthermore, ongoing the Company can continue to
rely on the announcements and disclosures it makes to the London
Stock Exchange and has no Sarbanes-Oxley or SEC reporting
requirements.
As the Company stated in its annual report this year, with
several US shareholders already and an increasing following for the
Company in the US developing, it had been exploring ways to make it
easier for those investors to trade in Zoetic International
ordinary shares. Independent studies have also shown that trading
on the OTC by an international company provides a positive effect
on the liquidity of its shares. The OTC assists this by providing a
number of methods through its own channels and social media to
increase the visibility of companies.
Trading on the OTC will have no impact on the existing listing
of Zoetic International ordinary shares on the London Stock
Exchange and no new ordinary shares will be issued as part of the
listing.
Nick Tulloch, Chief Executive of Zoetic International, said:
"It has been our ambition for some time to facilitate investment
from the United States. Being the country where the majority of our
operations are based, we have already attracted some interest and
this week's move onto the OTC considerably simplifies the process
for US investors, enabling them to trade in our shares in US
dollars during US market hours. Significantly, the CBD market is
well developed in the US so we are optimistic that the enhanced
profile that our OTC ticker will give us will generate further
interest from the already established community of investors in the
CBD industry. Zoetic International will be the first CBD company
with a primary listing in London to trade on a regulated US
market.
"I am looking forward to attending the opening in New York
tomorrow and to starting the process of building an investor
following in the US."
**ENDS**
Enquiries
Zoetic International plc +44 (0) 1738 472 029
Nick Tulloch
IFC Advisory Ltd +44 (0) 20 3934 6630
Tim Metcalfe
Graham Herring
Florence Chandler
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END
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