Private Trading Systems Announces Agreement for Exchange of PVTM Shares; Ten Shares of Private Trading Systems Plc for Each Existing PVTM Share.
Private Trading Systems, Inc. through its wholly owned subsidiaries operates a platform for trading financial instruments in electronic form with instantaneous clearance and settlement in real time. Private Trading Systems Plc (PTS Plc) issued the whole of its share capital to PVTM in exchange for the entire share capital of The Private Treaty Market Limited, formerly a subsidiary of PVTM, and the intellectual property rights vested in a patent applied for in August 2006.
The record date for the dividend is today's date June 12, 2007 and the shares of stock in PVTM will be marked ex-dividend as of today's date.
The Registrars for PTS Plc, Computershare Investor Services Plc, will issue new share certificates in respect of the PTS Plc shares to shareholders of PVTM who present evidence of title by way of (a) definitive stock certificate(s) in respect of PVTM shares. The Registrars will dispatch to the registered owners the new PTS Plc share certificates together with the PVTM stock certificates presented. NO NEW SHARE CERTIFICATES IN PTS PLC WILL BE ISSUED WITHOUT PRESENTATION OF EXISTING PVTM STOCK CERTIFICATES. Shareholders should therefore send original stock certificates in respect of PVTM shares held as beneficial owner to Computershare Investor Services Plc in order to receive the new PTS Plc share entitlements. This will result in PVTM shareholders receiving 10 new shares in PTS Plc in addition to each share of PVTM that they currently hold.
Computershare Investor Services PLC PO Box 82 The Pavillions Bridgewater Road Bristol BS997NH United Kingdom
Additionally PTS is completing an institutional placement of 29,411,765 (6.4%) of its new ordinary shares to raise PS1.25 million (one million, two hundred and fifty thousand pounds sterling, approximately $2,465,434) of working capital.
The board of directors of PTS comprises Mr. Walter Goldsmith (Chairman), Mr. Lindsay Smith (Chief Executive Officer), Mr. Austin Burrell (Non-Executive), and Mr. Robert Stevens (Non-Executive). It is intended that further appointments to the board will be made as appropriate.
Mr. Austin Burrell, Chairman of PVTM commenting on these developments notes: "By effecting the share exchange and being admitted to Trading on PLUS Markets in London, we have now ensured that shareholders have a dealing facility in a regulated public market. They will be able to trade their shares freely in unrestricted form. We are especially delighted that institutional buyers have now become investors in the future of our trading platform and we look forward to bringing the platform into full operation."
Mr. Walter Goldsmith, Chairman of PTS stated that he was pleased to have joined a company with such opportunities, bringing an innovative approach to the marketing of financial instruments, and looked forward to an exciting future for PTS.
About Private Trading Systems, Inc.
Private Trading Systems, Inc. is developing turnkey exchanges for all types of assets to which a CINS/CUSIP/IDENTIFIER number can be assigned or created. The Private Trading Systems platform is a quick, effective and proprietary venue for secure, clean and efficient electronic transaction processing. It is designed to preclude specific forms of trading of any security for which it provides exchange services. The intention of the Company is to offer an "exchange environment access" through a unique design of exchange services and proprietary integration of functions that is not currently available anywhere in the world.
This news release contains forward looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect PVTMs current views with respect to future events that involve risks and uncertainties. Among others, these risks include the failure to meet schedule, or performance requirements of the Company's contracts, the Company's liquidity position, the Company's ability to obtain new contracts, and the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties the forward-looking events referred to in this release might not occur.