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Unrestricted Trading Line Completed

25th Aug 2010 16:50

RNS Number : 6464R
TyraTech, Inc.
25 August 2010
 



25 August 2010

 

TYRATECH, INC.

("TyraTech" or the "Company")

 

Unrestricted Trading Line Completed

 

TyraTech, Inc. (AIM: TYR), a leading independent novel pesticide company for human, animal and environmental health, is pleased to announce that, further to its announcement of 19 July 2010, it has successfully completed the process of establishing a second, unrestricted line of stock and that 479,117 of its Common Shares will be admitted to trading in an unrestricted manner on AIM on or about 27 August 2010 under the symbol 'TYRU'.

 

The Company also expects to have completed the process to enable TYRU shares to be traded and settled, by means of depository interests, through the CREST electronic settlement system on or about 27 August 2010, eliminating the need for physical share certificates for TYRU shares.

 

Common Shares that have been in issue for more than one year and are not, or have not been for the past year, held by 'affiliates' of the Company generally qualify for characterisation as 'Unrestricted Common Shares' under an exemption provided by Rule 144(k) of the Securities Act. All Unrestricted Common Shares will be eligible for migration to trading in an unrestricted manner under the symbol TYRU.

 

TyraTech currently has a total of 47,193,022 Common Shares admitted to AIM of which 479,117 will trade under the symbol TYRU in an unrestricted manner pursuant to the exemption provided under the Securities Act mentioned above, and 46,713,905 will continue to trade under the symbol TYR in a restricted manner as permitted by Regulation S of the U.S. Securities Act of 1933 (the "Securities Act"). It should be noted that CREST settlement is not be available for trades in TYR shares.

 

The new ISIN for the TYRU shares is US90239R2031.

 

The Directors of TyraTech believe that creating this facility to allow its unrestricted Common Shares to trade and settle electronically through the CREST electronic settlement system will make investing in the Company more attractive to many investors and could improve liquidity under the unrestricted TYRU trading symbol.

 

For further information please contact:

TyraTech, Inc.

Alan Reade +1 (321) 409 7724 

www.tyratech.com

 

 

Nomura Code Securities

Richard Potts/Christopher Golden +44 (0)20 7776 1200

www.nomuracode.com

 

 

Buchanan Communications

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 products on the market, is positioned for human health, animal health and pesticide market opportunities which total over $32 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 is actively developing selected proprietary active ingredients which can then be used for various products 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 two billion people worldwide subject to intestinal parasitic infections.

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCEASPSALNEEFF

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