ClearStar,Inc. Restricted ordinary shares to be traded in CREST (3790X)
28 August 2015 - 4:01PM
UK Regulatory
TIDMCLST TIDMCLSU
RNS Number : 3790X
ClearStar,Inc.
28 August 2015
28 August 2015
ClearStar, Inc.
("ClearStar" or the "Company")
(AIM: CLST)
Restricted ordinary shares to be traded in CREST
ClearStar announces that, in accordance with Regulation (EU) No.
909/2014 of the European Parliament and of the Council of 23 July
2014 on improving securities settlement in the European Union and
on central securities depositories (the "EU Regulation"), it has
introduced a Depository Interest programme ("DI Programme") in
respect of its existing restricted line of ordinary shares with
Capita IRG Trustees Limited ("Capita") to enable its restricted
line of ordinary shares to be settled electronically via CREST.
It is expected that the DI Programme will be effective from 1
September 2015. The Company's restricted line of ordinary shares
will continue to use ISIN number KYG2294M1050 and ticker CLST.
The introduction of the DI Programme will ensure that ClearStar
complies with the AIM Rules and the EU Regulation which require
securities traded on AIM to be capable of electronic settlement
with effect from 1 September 2015. The benefit of the DI Programme
is that the Depository Interests can be held and transferred
through CREST, thereby enhancing the liquidity of the Company's
securities.
Shareholders should note that from 1 September 2015, holdings of
certificated ordinary shares will be eligible for dematerialisation
into Depository Interests which shall be capable of electronic
settlement in CREST. Shareholders are encouraged to contact their
broker or Capita Registrars directly on +44 (0)871 664 0300 for
further details on the DI Programme and how to dematerialise their
holding of ordinary shares.
Holders of restricted ordinary shares who do not participate in
the DI Programme will continue to hold their ordinary shares in
certificated form, which will retain their legend and the
restrictions on transfer. Whilst trading in certificated ordinary
shares may continue to take place, such holders of certificated
ordinary shares should note that certificated stock is not capable
of electronic settlement in accordance with the EU Regulation and
will need to be dematerialised prior to electronic settlement. No
ordinary shares will be deposited into CREST without the positive
action of the relevant shareholder.
In general, under US securities law, ordinary shares that have
been in issue for more than one year and are not held by an
'affiliate' of the Company qualify for characterisation as
unrestricted ordinary shares ("Unrestricted Ordinary Shares"). An
affiliate for this purpose is a person that directly, or indirectly
through one or more intermediaries, controls, or is controlled by,
or is under common control with, the Company or a director or
officer of the Company. All Unrestricted Ordinary Shares are
eligible for migration to, and trading on, the Company's
unrestricted CLSU line with the ISIN number KYG2294M1134.
The Company will be writing to affected shareholders shortly to
inform them of the process of dematerialising their restricted
ordinary shares.
Enquiries:
ClearStar, Inc.
Robert J. Vale, Chief
Executive Officer
David Pattillo, Chief
Financial Officer +1 770 416 1900
Cenkos Securities plc
(Nomad)
Max Hartley, Mark Connelly +44 20 7397 8900
Luther Pendragon Ltd
(Financial PR)
Harry Chathli, Claire
Norbury, Oliver Hibberd +44 20 7618 9100
About ClearStar
ClearStar, Inc. is a leading and trusted background check
technology, strategic services, and decision-making information
provider to employers and background screening companies.
A seven-time Inc. 5000 honouree and founding member of the
National Association of Professional Background Screeners,
ClearStar has provided innovative technology solutions to
businesses in the human capital management industry from its
corporate offices in Alpharetta, Georgia since 1995. For more
information about ClearStar, please visit: www.clearstar.net.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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