28th Aug 2008 07:00
RNS Number : 1630C
TyraTech, Inc.
28 August 2008
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For immediate release
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28 August 2008
|
TYRATECH, INC.
("TyraTech" or "the Company")
Change of Shareholding Notification
TyraTech, Inc. (AIM: TYR), a leading independent novel pesticide company for human, animal and environmental health, announces today that, following the announcement made by Tyratech on 8th August 2008 regarding the restructuring of XL TechGroup, Inc. ("XLTG") and its assets, this transfer has now taken place and the ownership of XLTG's 45.69% shareholding in TyraTech has been transferred to PetroTech Holdings Corporation a Laurus/Valens group company.
For further information please contact:
TyraTech Inc.
Keith Bigsby, Chief Financial Officer +1 (321) 409 7714
www.tyratech.com
Nomura Code Securities
Charles Walker +44 (0)20 7776 1200
www.nomuracode.com
Buchanan Communications
Mary-Jane Johnson / Lisa Baderoon
/ Catherine Breen +44 (0) 20 7466 5000
www.buchanan.uk.com
About TyraTech
TyraTech was formed in 2004 to develop and commercialise products for the control of invertebrate pests and pathogens using the Company’s proprietary technology. TyraTech, which already has a product on the market, is positioned for human health, animal health and pesticide market opportunities which total over $23 billion globally. TyraTech’s technology provides the Company with a wide variety of product and business opportunities in many markets and geographic regions. The differentiating feature of these products is the potential to have a combined level of potency and safety that other invertebrate control products are unable to offer. TyraTech’s platform brings many of the principles of drug discovery and development to the fields of insecticides and parasiticides. By targeting specific chemoreceptors that are found in invertebrates but not in humans and animals, TyraTech can produce products that use natural plant derived compounds targeting these receptors.
TyraTech’s plan for the use of its technology is to develop selected proprietary active ingredients which can then be used across a wide variety of market segments, either by development partners or by TyraTech itself. TyraTech already has products or partnerships in the areas of professional and horticultural insect control, and for an insect/mosquito repellent. TyraTech also has an innovative partnership with Kraft to use its natural oils to develop functional foods for improving the health of the more than 2 billion people worldwide with intestinal parasitic infections.
TyraTech also has a separate technology with associated intellectual property that is the basis for the Sustainable Solutions business. This technology has been incorporated into specialised dairy farm equipment for processing cattle manure waste to a usable material for TyraTech to sell as a commercial plant growing medium. For more information please visit www.tyratech.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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Related Shares:
Tyratech
