TyraTech, Inc. Share Migration (1999B)
March 28 2013 - 11:15AM
UK Regulatory
TIDMTYR TIDMTYRU
RNS Number : 1999B
TyraTech, Inc.
28 March 2013
28 March 2013
TYRATECH, INC.
("TyraTech" or the "Company")
Migration of Shares
TyraTech, Inc. (AIM: TYR and TYRU), a natural life sciences
company, announces that certain of its common shares of US$0.001 in
the Company ("Common Shares"), which trade on the Company's
restricted trading line under TIDM 'TYR' with ISIN number
USU890581080, may now be eligible to migrate to the Company's
unrestricted trading line under TIDM 'TYRU' with ISIN number
US90239R2031.
Removal of the trading restrictions allows the shares to be:
-- transferred to its unrestricted trading line (TIDM: TYRU); and
-- settled (at the election of the shareholder), by means of
Depositary Interests, through the CREST electronic settlement
system.
TyraTech currently has a total of 108,176,305 Common Shares in
issue, of which 1,084,413 are held in Treasury. 80,874,936 Common
Shares trade under TIDM 'TYR' in a restricted manner as permitted
by Regulation S promulgated under the U.S. Securities Act of 1933
(as amended). The Company's remaining 27,301,369 Common Shares in
issue are unrestricted and trade under TIDM 'TYRU'. TyraTech
believe that approximately 40.4 million of its Common Shares are
currently eligible to migrate to the unrestricted line of
shares.
In general, under U.S. securities law, Common Shares that have
been in issue for more than one year and are not held by an
'affiliate' of the Company qualify for characterisation as
unrestricted Common Shares ("Unrestricted Common Shares"). An
affiliate for this purpose is a person that directly, or indirectly
through one or more intermediaries, controls, or is controlled by,
or is under common control with, the Company or a director or
officer of the Company. Generally a beneficial owner of 10% of more
of the issued Common Shares taking into account shares held and any
options, warrants or other securities convertible or exercisable
within 60 days will be considered an affiliate for this
purpose.
All Unrestricted Common Shares are eligible for migration to,
and trading on, the Company's unrestricted TYRU line.
All Common Shares not meeting the definition of Unrestricted
Common Shares will continue to trade in a restricted manner under
the Company's TYR line. There is no difference in entitlement
between the Common Shares trading in the restricted line and those
trading in the unrestricted line, but the TYRU line will serve to
evidence the absence of restrictions on trading otherwise imposed
by the U.S. Securities Act of 1933 (as amended) and will enable
electronic settlement if a holder so desires.
The Company has sent letters with instructions to shareholders
whose Common Shares it believes should be eligible for migration
("Eligible Shares") to the Company's unrestricted TYRU line.
To participate, holders of Eligible Shares must deliver their
current restricted share certificates to the Company's transfer
agent (Computershare Investor Services (Jersey) Limited, Queensway
House, Hilgrove Street, St Helier, Jersey, JE1 1ES) together with
the Letter of Transmittal which has also been sent to holders of
Eligible Shares, by 3 May 2013. Holders of Eligible Shares will
have the option to either receive an unrestricted certificate in
return or have their Eligible Shares entered into CREST, which is a
depositary interest facility that permits trading on the
unrestricted TYRU line to be settled electronically.
Shareholders in the Company who already hold unrestricted paper
certificates can apply to have their certificates entered into
CREST by completing a dematerialisation form and sending it to
Computershare.
Copies of the letter to shareholders and the Letter of
Transmittal (for eligible shareholders with restricted shares) and
dematerialisation forms (for shareholders with unrestricted paper
shares who wish to transfer to CREST) will be made available on the
Company's website, www.tyratech.com.
For further information please contact:
TyraTech Inc.
Alan Reade, Executive Chairman
Tel: +1 919 415 4310
Bruno Jactel, Chief Executive Officer
Tel: +1 919 415 4280
N+1 Singer, Nominated Adviser and Joint Broker
Aubrey Powell / Alex Wright
Tel: +44 20 7496 3000
First Columbus LLP, Joint Broker
Chris Crawford
Tel: +44 20 3002 2070
Walbrook, Financial PR and IR
Bob Huxford / Paul Cornelius / Guy McDougall
Tel + 44 20 7933 8792
This information is provided by RNS
The company news service from the London Stock Exchange
END
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