6th Jun 2011 09:15
06 June 2011
Tejoori Limited
("Tejoori" or the "Company")
Registers Stock for Electronic Trading on CREST
The Board of Tejoori is pleased to announce the following update to the trading and settlement of its shares.
With effect from 6 June 2011, CREST members are able to hold and transfer interests in the Company's ordinary shares of USD0.01 each (the "Ordinary Shares") within the CREST system, pursuant to a depositary interest ("DI") arrangement established by the Company.
Accordingly, settlement of transactions in the Ordinary Shares, represented by DIs, following admission, may take place within the CREST system if the relevant shareholders in the Company so wish. CREST is a UK electronic paperless share transfer and settlement system, which allows shares and other securities (including DIs) to be held in electronic rather than paper form. DIs have been constituted because the Company is registered in British Virgin Islands and electronic settlement of securities in CREST is only permitted in respect of securities issued by companies incorporated in the UK. The Ordinary Shares may be traded using this system. Please note that CREST is a voluntary system and holders of shares who wish to receive and retain share certificates will also be able to do so.
The Company has established the depository interest facility with Capita IRG Trustees Ltd. ("Capita"), in terms of which Capita will issue DIs to qualifying shareholders on a one-for one basis for each Ordinary Share in the Company held by that shareholder. Capita will appear on the register of members of the Company as the shareholder but the beneficial interest and all rights in the stock will remain with the original shareholder. The benefit of dematerialisation is that the DIs can be held and transferred through CREST, thereby enhancing the liquidity of the Company's securities. The ISIN of the DIs will not change from the current Ordinary Shares.
A letter will be sent to each shareholder in the Company explaining what action they should take if they wish to use the depository interest facility to hold DIs in CREST. A copy of the letter, and the forms referred to in the letter, will be made available on the Company's Website, www.tejooriltd.ae, in accordance with AIM Rule 20.
For further information, please contact:
Tejoori Limited Abdullah Lootah, CEO
| Tel: +971 4 2839316 |
Allenby Capital Limited Nick Athanas/James Reeve | Tel: +44 (0)203 328 5656 |
Related Shares:
Tejoori