Tekcapital has announced that the Company's shares will cross trade publicly on the US OTCQB Venture Market ("OTCQB"), under the ticker TEKCF, commencing from today.
The UK intellectual property investment group focused on creating marketplace value from investing in university technology told investors that its shares will continue to trade on the AIM Market of the London Stock Exchange under the ticker TEK and ‘are fully fungible.’
The Company said it is not conducting a fundraising associated with this initiation of a quotation and cross-trading on the OTCQB Market and that it will continue to rely on the disclosures it makes to the LSE with no Sarbanes-Oxley or SEC reporting requirements.
The cross-trading facility is provided through OTC Markets Group 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, commented, “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.”
He said, “OTCQB supports international companies seeking to strengthen visibility and transparency within the U.S. public market. Trading on AIM and OTCQB will enable TEK 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.”
Commenting on the trading commencement Dr. Clifford M. Gross, Tekcapital’s CEO stated that, "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."
Positive news that TEK's want to be able to attract a new group of investors from the US, who tend to value IP companies higher than investors in the UK. Shares in Tekcapital have increased by over 85% in value since the beginning of November 2020 to open 15.15% higher this morning at 19p following the announcement.
Tekcapital’s mission is to create value from university Intellectual property that is ready for mass markets:
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TEK has the World’s largest network of University IP
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TEK enables rapid value creation with market ready technology selection
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Multi-Year track record of significant revenue and net-asset growth