Tekcapital commences trading on the OTCQB Venture Market in the United States
Tekcapital Plc (AIM: TEK, OTCQB: TEKCF) announced that its shares will start cross-trading on the US OTCQB Venture Market effective February 1, 2021. While maintaining its primary listing on the AIM Market of the London Stock Exchange, this initiative will allow US investors to trade Tekcapital shares in USD during US market hours. The company is not conducting a fundraising related to this cross-listing and continues to comply with AIM disclosure requirements. The move aims to enhance visibility and accessibility for US investors.
- Cross-trading on OTCQB provides US investors easier access to Tekcapital shares.
- No fundraising associated with the new listing, ensuring no dilution of shares.
- Potential risks associated with increased scrutiny from US investors.
- No SEC reporting requirements may limit transparency for US investors.
LONDON, UNITED KINGDOM , Feb. 01, 2021 (GLOBE NEWSWIRE) -- Tekcapital Plc (AIM: TEK), (OTCQB: TEKCF) the UK intellectual property investment group focused on creating marketplace value from investing in university technology, is pleased to announce that the Company's shares will cross trade publicly on the US OTCQB Venture Market ("OTCQB"), under the ticker TEKCF, commencing 1st February 2021.
Tekcapital’s ordinary shares will continue to trade on the AIM Market of the London Stock Exchange under the ticker TEK and are fully fungible. Tekcapital is not conducting a fundraising associated with this initiation of a quotation and cross-trading on the OTCQB Market. The Group will continue to rely on the announcements and disclosures it makes to the London Stock Exchange and has no Sarbanes-Oxley or SEC reporting requirements.
The cross-trading facility is provided through OTC Markets Group Inc., located in New York. OTC Markets operates the world's largest electronic interdealer quotation system for US broker dealers and offers multiple media channels to increase the visibility of OTC-listed companies.
Jonathan Dickson, VP of International Corporate Services at OTC Markets, said: "We are delighted to welcome Tekcapital plc to the OTCQB Market. With its primary listing remaining on London's AIM, the OTCQB Market's cross trading facility will allow Tekcapital to provide investors in the United States with the ability to access the Company's Ordinary Shares in U.S. dollars and during U.S. market hours. The OTCQB Market supports international companies seeking to strengthen visibility and transparency within the U.S. public market. Trading on AIM and on the OTCQB Market will enable Tekcapital to efficiently build global investor awareness and provide U.S. investors with a seamless trading facility, enabling investors to more easily trade through the broker of their choice. We would like to wish Tekcapital every success in their future trading on the OTCQB Market."
Dr. Clifford M. Gross, Tekcapital CEO, commented, "Tekcapital’s portfolio companies are rapidly building a presence in the U.S. and as such we are delighted to be joining the OTCQB Market, with a view towards increasing our visibility to the investment community and broadening our shareholder base."
About Tekcapital plc
Tekcapital creates value from investing in new, university-developed intellectual properties (IP) and provides a range of IP investment services to make it easy for organisations to commercialise university-developed technology. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com
This press release is for informational purposes only. The information herein does not constitute investment advice nor an offer to invest and may contain statements related to our future business and financial performance and future events or developments involving Tekcapital that may constitute forward-looking statements. These statements may be identified by words such as "expect," "look forward to," "anticipate" "intend," "plan," "believe," "seek," "estimate," "will," "project" or words of similar meaning. We may also make forward-looking statements in other reports, in presentations, on social media, in material delivered to customers, stakeholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements may be based on the current expectations and certain assumptions of Tekcapital’s management. Please note that these are subject to a number of risks, uncertainties and factors, including, but not limited to those described in various disclosures. Should one or more of these risks or uncertainties materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of Tekcapital may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Forward-looking statements express, as at the date of this release, the Company’s plans, estimates, valuations, forecasts, projections, opinions, expectations or beliefs as to future events, results or performance. Forward-looking statements involve a number of risks and uncertainties, many of which are beyond the Company’s control, including those associated with COVID-19, and there can be no assurance that such statements will prove to be accurate. No assurance is given that such forward looking statements or views are correct or that the objectives of the Company will be achieved. Further, valuations of Company’s portfolio investments and net asset value can and will fluctuate over time due to a variety of factors and this could have a material impact on the Company’s financial performance. Tekcapital neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which may differ from those anticipated.
FAQ
When did Tekcapital start trading on the OTCQB Market under TEKCF?
What does the cross-listing on the OTCQB mean for Tekcapital investors?
Is Tekcapital conducting any fundraising with its OTCQB listing?
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