Syft Joins ‘Unlisted’ Online Securities
Syft Joins ‘Unlisted’ Online Securities Trading Facility
Press release, 22-Apr-05, Christchurch, New Zealand: Syft Technologies Ltd is pleased to announce to shareholders and investors that it will join the ‘Unlisted’ online trading facility at www.unlisted.co.nz from Tuesday 26th April.
Board Chairman, Stephen Collins, explained “Unlisted is an unregistered securities trading platform that provides shareholders and potential investors a flexible and cost effective resource where they can trade Syft Technologies shares through any of the brokerage companies listed on the site.”
Although, at this stage, Syft is not considering listing publicly on the registered NZX exchange, the Company will be closely monitoring performance of its shares on Unlisted, and may review its options in future.
Syft currently has 225 shareholders who collectively hold 120 million shares in the Company.
“The advantage of joining Unlisted is to make it easier for our existing shareholders to trade their shares, and for market forces to transparently set the share price. The company’s share price will be visible to the public through Unlisted’s website, and the service will also reduce the transaction costs associated with trading the company’s shares,” continued Mr Collins.
After two years research and development, Syft Technologies launched onto the world stage with a pioneering product solution – called the Voice100 - that uses an advanced SIFT-MS technique to instantly detect substances in minute amounts to a few parts per billion. Applications where this technology can be used include screening of passengers and cargo for explosives or lethal chemicals, oil and gas exploration, and even medical diagnosis by breath testing.
For example, Australian Customs recently signed a contract to purchase five Voice100 units to install the units in the ports of Sydney, Melbourne, Adelaide, Brisbane and Perth. The units will be used to detect and measure fumigants within sea containers arriving into Australia – a process necessary to protect port workers from unsafe levels of toxic chemicals and eliminate threat to Australia’s agricultural based economies.
Geoff Peck, Chief Operating Officer said, “2005 is so far proving be a milestone year for Syft Technologies and its shareholders, with sizeable potential. Recent activities have included the appointment of specialised sales agents who are making strong in-roads for Syft in North America, UK and Europe; successful product launch at Pittcon US - one of the world’s largest exhibitions of analytical instruments; the awarding of a multi-unit contract with Australian Customs, and further significant sales negotiations in the pipeline.”
Unlisted is not a registered or authorised securities exchange, or regulated under New Zealand securities exchanges law. Unlisted is an unregistered securities trading facility. Efficient Market Services Limited, which operates Unlisted, accepts no responsibility for any statement in this communication.”
About Syft Technologies
Syft Technologies is a private enterprise formed out of Canterbury University, New Zealand in 2002 to commercialise SIFT-MS technology (Selected Ion Flow Tube Mass Spectrometry) – a scientific breakthrough previously confined to specialist research labs for identification of Volatile Organic Compounds (VOCs).
The company successfully honed the technique into an ingenious device called the Voice100 that can instantly and accurately identify trace level VOCs to a few parts per billion. For more information visit www.syft.com.