TyraTech, Inc. Migration of Shares (2392V)
August 06 2015 - 1:00AM
UK Regulatory
TIDMTYR TIDMTYRU
RNS Number : 2392V
TyraTech, Inc.
06 August 2015
TyraTech, Inc.
("TyraTech" or the "Company")
Migration of Common Shares and transfer to new restricted DI
line
TyraTech, Inc. (AIM: TYR and TYRU), a life sciences company
focusing on nature-derived insect and parasite control products,
announces that, the Company intends to carry out a sponsored
migration (the "Migration") in relation to 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, to the Company's unrestricted trading line
under TIDM 'TYRU' with ISIN number US90239R2031. Removal of the
trading restrictions allows the Common Shares to be: (i)
transferred to its unrestricted trading line (TIDM: TYRU); and (ii)
settled (at the election of the shareholder), by means of
Depositary Interests, through the CREST electronic settlement
system.
In addition, in accordance with Regulation (EU) No. 909/2014 of
the European Parliament and of the Council of 23 July 2014 on
improving securities settlement in the European Union and on
central depositaries (the "EU Regulation") which requires all
shares listed on AIM to be capable of electronic settlement, as of
1 September 2015 the existing restricted line of stock which trades
under the ticker symbol TYR with ISIN number USU890581080 will be
replaced by a new restricted line (the "New Restricted DI Line")
which is in compliance with the requirements of the EU Regulation
and will allow shareholders of restricted Common Shares to deposit
their Common Shares into CREST in exchange for Depository Interests
and trade such Depository Interests in uncertificated form on AIM
(the "Transfer Programme"). Common Shares which participate in the
Transfer Programme will retain their legend and thus the
restrictions on transfer. The New Restricted DI Line will continue
to use the ticker symbol TYR and ISIN number USU890581080.
In the event that shareholders choose not to participate in the
Migration, and take no action to participate in the Transfer
Programme, their Common Shares will automatically transfer to the
New Restricted DI Line on 1 September 2015 when the existing
restricted line ceases trading. Common Shares which transfer
automatically will continue to be held in certificated form and
will retain their legend and thus the restrictions on transfer, but
will continue to be admitted to AIM, however shareholders should
note that certificated stock is not capable of electronic
settlement in accordance with the EU Regulation and will need to be
dematerialised prior to electronic settlement. No Common Shares
will be deposited into CREST without the positive action of the
relevant shareholder.
The Company is making the necessary arrangements to allow
shareholders to participate in the Migration and the Transfer
Programme, as appropriate, and documents containing further
instructions on how to participate have been sent today to
shareholders who the Company believes are eligible to migrate or
transfer their Common Shares.
In general, under US 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. All Unrestricted Common Shares are eligible
for migration to, and trading on, the Company's unrestricted TYRU
line.
Following the Migration and Transfer Programme, the Company will
continue to have a total of 262,333,111 Common Shares admitted to
AIM (excluding those Common Shares admitted and not allotted under
the blocklisting announced on 25 February 2011). The Company holds
1,084,413 Common Shares in treasury and these treasury shares trade
under the symbol TYR.
Any enquiries should be directed to Computershare Investor
Services (Jersey) Limited on +44 (0)870 703 6149.
TyraTech, Inc.
Alan Reade, Non-Executive Chairman Tel: +44 7841 978709
Bruno Jactel, Chief Executive Officer Tel: +1 919 415
4340
SPARK Advisory Partners Limited, Tel: +44203 368
Nominated Adviser 3552
Matt Davis / Mark Brady Tel: +44203 368
3551
Allenby Capital Limited, Joint Broker
Chris Crawford Tel: +44 20 3328
5656
Whitman Howard Limited, Joint Broker
Ranald Mc-Gregor Smith / Niall Devins Tel: +44 20 7659
1240
Walbrook, Financial PR and IR
Nick Rome /Guy McDougall Tel: +44 20 7933
8790
This information is provided by RNS
The company news service from the London Stock Exchange
END
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