Lifeline Scientific, Inc Share Trading Lines / Registers (7791Y)
04 December 2014 - 4:00AM
UK Regulatory
TIDMLSI TIDMLSIC
RNS Number : 7791Y
Lifeline Scientific, Inc
03 December 2014
3 December 2014
Lifeline Scientific, Inc.
("Lifeline" or "the Company")
Share Trading Lines / Registers
Lifeline Scientific (AIM: LSIC.L & LSI.L), the
transplantation technology company, announces the upcoming
consolidation of the Company's two existing share registers into
one and the proposed cancellation of the Regulation S restricted
trading line LSI.L, for the purpose of increasing the liquidity of
Lifeline shares and increasing transparency around Lifeline's share
Capital, total holding rights and market capitalization in order to
provide shareholders with clarification of Lifeline's position in
the market.
In addition, there are certain upcoming EU regulatory
developments, which are described in more detail below, that will
potentially affect Lifeline's shareholders' ability to trade their
shares. The actions the Company proposes to implement will ensure
shareholders will be in a better position to trade their Lifeline
shares, should they want to, in line with the new regulations.
On September 17, 2014, the European Union Regulation on Central
Securities Depositories ("CSDR") came into effect. These
regulations require all trading in shares executed on a trading
venue, including the AIM market of the London Stock Exchange
("AIM"), to be settled electronically. The London Stock Exchange
has announced that it intends to amend its rules so that on
exchange transactions are able to comply with article 3.2 of CSDR.
However, once implemented, Lifeline shareholders will only be able
to trade their Lifeline shares on AIM if such trades are settled
electronically through CREST. Though it will still be possible for
shareholders to hold their shares in certificated form until they
wish to trade them.
In order to address these issues, and to prepare for the
effective date of the CSDR, the Company has made an application to
the London Stock Exchange and is preparing to cancel the Regulation
S trading line LSI.L so that all future trading will be under its
DI Line LSIC.L ISIN US53223V1017, resulting in one price quotation,
rather than two, which has been the case for many years, and will
remove the possible differences in the trading prices. In addition
all shareholders who are currently registered on the LSI.L
restricted register will have their holdings transferred onto the
LSIC.L non restricted register, which will allow shareholders to
hold either electronic shares or certificates, with the option to
replace their paper certificates with shares in electronic form if
they have access to a CREST (electronic) account.
Currently Lifeline shares are held as: (i) unrestricted shares
held electronically through CREST; (ii) unrestricted shares in
certificated form; and (iii) restricted shares in certificated
form. All three categories of shares have identical voting rights.
In addition, due to certain discrepancies in US and UK regulatory
requirements, the Company established the unrestricted trading line
which resulted in not just two separate trading lines, LSIC.L and
LSI.L but also two separate share registers. Although no
restrictions currently apply to either of the two registers, the
trading lines continue to trade at different prices.
We will notify all shareholders shortly via a second regulatory
news release and shareholders should expect to receive additional
and more detailed information from the Company's registrars in due
course.
Currently there are 19,496,434 common shares in issue and each
share carries the right to one vote. 6,360,914 common shares are
registered on the restricted Regulation S register although no
restrictions currently apply to these shares, which are held in
certificated form only. These common shares can be switched to the
non-restricted line but currently trade under TIDM LSI.L, ISIN
number USU529641008. The remaining 13,135,520 common shares have no
restrictions, are either held in certificated or CREST (electronic)
format and trade under TIDM LSIC.L, ISIN number US53223V1017.
For further information:
Lifeline Scientific, www.lifeline-scientific.com
Inc.
David Kravitz, CEO Tel: +1 847 294 0300
Lisa Kieres, CFO Tel: +1 847 294 0300
Panmure Gordon (UK) Tel: +44 (0)20 7886 2500
Limited
Wayne Slyfield/ Freddy Crossley
(Corporate Finance)
Maisie Atkinson (Corporate
Broking)
Walbrook Tel: +44 (0)20 7933 8780
or lifeline@walbrookpr.com
Paul McManus Mob: +44 (0)7980 541 893
Mike Wort Mob: +44 (0)7900 608 002
About Lifeline Scientific Inc.
Lifeline Scientific, Inc. is a Chicago-based global medical
technology company with regional offices in Brussels and Sao Paulo.
The Company's focus is the development of innovative products that
improve transplant outcomes and lower the overall costs of
transplantation. Its lead product is the market-leading and
clinically validated LifePort Kidney Transporter. Devices for
preservation of the liver, pancreas, heart and lung are in late
stage pre-clinical development. For more information please visit
www.lifeline-scientific.com
About LifePort Kidney Transporter
Created with the challenges of organ recovery and transport in
mind, LifePort Kidney Transporter is a proprietary medical device
designed to provide improved kidney preservation, evaluation and
transport prior to transplantation. Today, it is widely recognised
as the world's leading machine preservation device for kidneys.
Employed by surgeons in over 160 leading transplant programmes in
27 countries worldwide, LifePorts have successfully preserved over
47,000 kidneys indicated for clinical transplant. For more
information please visit www.organ-recovery.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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