News

Migration of Shares and Exercise of SARs
27 March 2015

TyraTech, Inc. (AIM: TYR and TYRU), a life sciences company focusing on nature-derived insect and parasite control products, announces that , following receipt of a request from a shareholder, 1,875,000 common shares in the Company on its restricted "TYR" trading line have migrated to its unrestricted trading line "TYRU".

Further, the Company intends to carry out a sponsored 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 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.

The Company is making the necessary arrangements to carry out the migration and will contact shareholders who it believes are eligible to migrate their shares in due course in order to provide them with further instructions on how to do so. In general, under U.S. 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.

The Company also announces that on 2 February 2015 it issued 10,043 common shares ("Common Shares") in the Company following the exercise by former employees of Stock Appreciation Right options over common shares of US$0.001 in the Company ("SARs"). The Common Shares were admitted to trading on AIM under the Block Listing for the 2007 Equity Compensation Plan.

Following the migration and the exercise of the SARs, the Company will have a total of 262,333,111  common shares admitted to AIM (excluding those shares admitted and not allotted under the blocklisting announced on 25 February 2011), of which 165,556,635 will continue to trade under the symbol "TYR" in a restricted manner as permitted by Regulation S of the U.S. Securities Act of 1993 (the "Securities Act") and 96,776,476 will trade under the symbol "TYRU" in an unrestricted manner pursuant to an exemption provided under the Securities Act. CREST settlement will not be available for trades in "TYR" shares. The Company holds 1,084,413 common shares in treasury and these treasury shares trade under the symbol "TYR". 

 

For further information please contact:

TyraTech Inc. Alan Reade, Non-Executive Chairman Bruno Jactel, Chief Executive Officer Vincent Morgus, Chief Financial Officer and Treasurer	Tel: +1 919 415 4340 Tel: +1 919 415 4287
SPARK Advisory Partners Limited, Nominated Adviser Matt Davis / Mark Brady	Tel: +44 203 368 3551 Tel: +44 203 368 3552
Allenby Capital Limited , Joint Broker Chris Crawford	Tel: +44 20 3328 5656
Whitman Howard Limited, Joint Broker Ranald McGregor-Smith/ Niall Devins	Tel: +44 20 7659 1240
Walbrook, Financial PR and IR Nick Rome/ Guy McDougall	Tel: +44 20 7933 8790

 

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