Clean Diesel Technologies Inc. Raises $5.2 --pound- 3.6- Million and Lists On AIM.Business Editors STAMFORD, Conn.--(BUSINESS WIRE)--Dec. 27, 2001 Clean Diesel Technologies Inc. (EBB:CDTI CDTI Centro Para el Desarrollo Tecnológico Industrial (Spain) CDTI Cockpit Display of Traffic Information CDTI Common rail Diesel Turbo Injection CDTI Commercial Driver Training Institute (Pakistan) )(AIM:CDTS CDTS Continental Divide Trail Society CDTS Combat Development Tracking System CDTS Computer Directed Training System CDTS Clinic for Developmental Therapy Services CDTS Centralized Digital Telecommunications System )(AIM:CDT CDT abbr. Central Daylight Time CDT Central Daylight Time CDT n abbr (US) (= Central Daylight Time) → hora de verano del centro; (BRIT ) announced that it has raised $5.2 ((pound)3.6) million by public offering in the United Kingdom and all its stock is now listed on the Alternative Investment Market (AIM) of the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. . The company has issued 2,580,664 new Common Shares at $2 ((pound)1.40) per share in this placement. These Placing Shares are placed in reliance on Regulation S under the U.S. Securities Act and because they are subject to transfer restrictions for a period of time, may not be resold to persons in the United States or to U.S. persons but may otherwise be traded in the United Kingdom without other restrictions. These shares are allocated ticker CDTS. Over a period of up to two years the U.S. transfer restrictions expire and the CDTS designation will disappear and the Placing Shares will also then trade under the ticker/symbol, CDT. At the same time, holders of the Convertible Preferred Stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". have converted the entire holding of Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. into 5,934,829 Common Shares; these shares and the existing 2,698,787 Common Shares are not subject to any transfer restriction and are allocated ticker CDT on AIM and will continue to trade in the United States on the Electronic Bulletin Board under the symbol CDTI. Following the placing and conversion there are now a total of 11,214,280 Common Shares in issue. At the placing price the market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. is $22.5 ((pound)15.7) million. Chief Executive Jeremy Peter-Hoblyn commented: "The additional funds will be used to substantially increase the company's marketing and sales, to accelerate the commercialization of the company's products and technologies and to pay down the $1 million loan note leaving the company with no debt. "We chose to list on AIM because of its commitment to advancing the success of its listed companies and, more importantly, because some 75% of our shares are held by British investors. Moreover we are already actively marketing our technologies in the European and international markets and completed the first license agreements in Europe and Japan in 2001. "The company will continue to market through licensees and distributors in order to make its products and technologies widely available in the important market that is developing worldwide for emissions control technology for diesel engines both new and retrofit. "Use of the company's products together with technologies now available, make diesel engines as clean or cleaner than petrol or natural gas fired engines whilst diesel engines continue to be 30 to 40% more fuel-efficient." About Clean Diesel Technologies Clean Diesel Technologies is a specialty chemical and energy technology company with patented products that reduce emissions from diesel engines while simultaneously improving fuel economy. Products include Platinum Plus(R) fuel borne catalysts which reduces engine out emissions of particulate (PM), carbon monoxide carbon monoxide, chemical compound, CO, a colorless, odorless, tasteless, extremely poisonous gas that is less dense than air under ordinary conditions. It is very slightly soluble in water and burns in air with a characteristic blue flame, producing carbon dioxide; (CO) and hydrocarbons (HC) whilst improving fuel economy and are also effective for regeneration of diesel particulate filters and the ARIS ARIS American Religious Identification Survey ARIS Architecture of Integrated Information Systems ARIS Active Rack Isolation System ARIS Aggregate Route-based IP Switching ARIS Agentia Romana pentru Investitii Straine (TM) 2000 urea injection systems for selective catalytic reduction Selective catalytic reduction (SCR) is a means of removing nitrogen oxides, often the most abundant and polluting component in exhaust gases, through a chemical reaction between the exhaust gases, a (reductant) additive, and a catalyst. of NOx. Certain statements in this news release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 (USA). Such forward-looking statements involve known or unknown risks, including those detailed in the companies filings with the Securities Exchange Commission and the London Stock Exchange, uncertainties and other factors which may cause the actual results, performance or achievements of the company, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Note to Editors: Platinum Plus is a registered trademark of Clean Diesel Technologies Inc. |
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