Depositary Interest Facility & Admission to CREST

RNS Number : 3682H

Spectra Systems Corporation

11 July 2012

 



For immediate release                                                                                                       11 July 2012

Spectra Systems Corporation ("The Company" or "Spectra")

Depositary Interest Facility and Admission to CREST

Spectra Systems Corporation, a leader in machine-readable high speed banknote authentication, is pleased to announce that, with effect from 25 July 2012, Spectra shareholders will be able to hold and transfer Spectra's common shares ("Common Shares") within the CREST system. The Directors expect this to enhance the liquidity in the trading of the Common Shares and allow investors who may previously have had difficulty in dealing to deal more easily. 

The Company has established a depositary interest facility to enable Common Shares to be traded in electronic form within the CREST system. From 25 July 2012, Common Shares may have their restrictive legend removed and may then be admitted to CREST as Depositary Interests, thereby allowing electronic settlement of transactions in Common Shares within the CREST system. Holders of Depositary Interests have the same rights as holders of Common Shares. 

Common Shares whose restrictive legend has been lifted will trade under ISIN number US84756T1060 (AIM:SPSY). Common shares whose restrictive legend has not been formally lifted will continue to trade under ISIN number USU8457D1091 (AIM:SPSC). 

Shareholders should note that in order to have the restrictive legend removed, they will need to provide their share certificates to the Company's registrar and make certain representations to the Company. Common Shares that have had the restrictive legend removed will be transferred into the new ISIN number on a weekly basis. Shareholders should then contact their broker or custodian to arrange to have their unrestricted shares dematerialised and transferred into the CREST system. Explanatory letters are being sent to all holders of Common Shares. A copy of this letter will be available on the Company's website, www.spsy.com. Shareholders should contact the Company if they require further information on the process for dematerialisation of their qualifying shares or for receiving new share certificates. 

Shareholders who do not wish to deposit their common shares into CREST may continue to hold them in certificated form once the restrictive legend is removed.

Contact information for the Company's share registrar is as follows:

Computershare Investor Services (Jersey) Limited

FAO Sheena Toudic

Queensway House

Hilgrove Street

St Helier

Jersey

JE1 1ES

Sheena Toudic - [phone] or [e-mail]

Enquiries:

Spectra Systems Corporation

Dr. Nabil Lawandy, Chief Executive Officer                       Tel: [phone]

WH Ireland Limited

Chris Fielding (Head of Corporate Finance)                       Tel: [phone]

Media Enquires:

The Communications Portfolio Limited

Ariane Comstive / Caolan Mahon                                     Tel: [phone] / 2029

[e-mail]

 

END

 

 

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