TownPagesNet.com plc's Subsidiary, BuyersGuide plc, Starts Trading on Alternative Investment Market -AIM- of London Stock Exchange August 7th.Business Editors ALTON, England--(BUSINESS WIRE)--Aug. 4, 2000 TownPagesNet.com plc (AMEX AMEX See: American Stock Exchange :TPN TPN, in biochemistry, abbreviation for triphosphopyridine nucleotide, a coenzyme now usually called nicotinamide adenine dinucleotide phosphate, or NADP. ), today announced that its BuyersGuide plc subsidiary will start trading 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. on Monday, August 7th. TownPages noted that pre-trading demand had dictated a doubling of the number of shares made available to institutional investors after the marketing of the offering. BuyersGuide is going public through a placement in the United Kingdom, which raised approximately US$7.5 million at an offering price of US$0.44 per share (based on a valuation of approximately US$38 million). BuyersGuide, through its Internet-based buyersguide.co.uk, is one of the UK's leading providers of information on businesses supplying products and services to local government and public service bodies in the UK. BuyersGuide is using the proceeds from its flotation to fund the development of an e-commerce offering through the site, to be called Buyers Marketplace, which will allow public sector buyers to locate the best purchase deal among listed BuyersGuide suppliers. BuyersGuide has over 2,500 suppliers paying to be listed on the service (including many `blue-chip' names such as Coca-Cola, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Nationwide Building Society, Oracle, Proctor & Gamble, Stepstone.com and Tarmac). It also has extensive content for public sector offices on the site, including affiliations to HM's Treasury, the DTI Diffusion tensor imaging (DTI) A refinement of magnetic resonance imaging that allows the doctor to measure the flow of water and track the pathways of white matter in the brain. , and the European Union Commission's SIMAP SIMAP Similarity Matrix of Proteins (database of protein-sequence similarities) SIMAP Système d'information sur les Marchés Publics en Suisse (French: information system on the public markets in Switzerland) project on public sector procurement. Howard Flight MP, Shadow Economic Secretary to the Treasury The Economic Secretary to the Treasury is the fifth and most junior ministerial post in the UK Treasury, after the Chancellor of the Exchequer, the Chief Secretary to the Treasury, the Paymaster-General and the Financial Secretary to the Treasury. It is not a Cabinet office. and Joint Chairman of Investec Asset Management Limited, is Chairman of BuyersGuide. TownPagesNet.com plc provides Internet, new media and advertising related services to both businesses and consumers through its subsidiaries. The US dollar amounts in this release have been translated for the reader's convenience from pounds sterling at the prevailing exchange rate as of July 20, 2000 of 1 pound =$1.51 "Safe Harbor" statement under 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: This release contains forward-looking statements that are subject to risks and uncertainties including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, reliance on key strategic alliances, fluctuations in operating results and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. |
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