25th Jul 2006 07:02
Enova Systems, Inc.25 July 2006 25 July 2006 Enova Systems, Inc. ("Enova") Regulation S common shares Since Enova Systems, Inc. was admitted to AIM on 26 July 2005, the existingcommon shares have traded under the RIC Code "ENV.L" and the new common shares,which were issued as part of the placing, were issued under Regulation S of theUS Securities Act 1933 and traded under the RIC Code "ENVS.L" and description of'ENOVA (REG S)' no par value common shares. Enova announces that effective from 26 July 2006, one year after Enova'sadmission to the AIM Market, the 'ENOVA (REG S)' no par value common sharesunder ISIN USU292791030 (symbol: "ENVS") have become eligible for trading in theUSA on the Over-the-counter Bulletin Board under the symbol ENOV in accordancewith Rule 144 of the US Securities Act of 1933, as amended (the "US SecuritiesAct"). Prior to 26 July 2006, these shares were publicly traded only on AIM inaccordance with Rule 904 of Regulation S of the Securities Act. The distributioncompliance period restrictions under Regulation S of the US Securities Act fallaway one year after their issue. The restrictions under Rule 144 of the US Securities Act will continue to applyto these shares for a further one year period (or such longer period that may beapplicable to affiliates.) Rule 144, among other conditions, requires (i) thatall sales be made through brokers transactions (ii) the number of shares which ashareholder may sell during any three-month period not exceed 1% of theoutstanding shares of the same class being sold and (iii) the filing of a noticewith the SEC on Form 144 if the sale involves more than 500 shares or theaggregate dollar amount is greater than $10,000 in any three-month period. Inview of these conditions, the 'ENOVA (REG S)' shares will continue to have theirown separate listing on AIM. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Enova Systems Inc