SCOTTSDALE, Ariz., June 13 /PRNewswire-FirstCall/ -- Private Trading Systems, Inc. (Pink Sheets: PVTM) which, through its wholly owned subsidiaries, operates a platform for trading financial instruments in electronic form with instantaneous clearance and settlement in real time, announces that Private Trading Systems PLC ("PTS"), a new company incorporated in the United Kingdom, a wholly owned subsidiary of PVTM, has been granted permission to trade the Company's Ordinary Shares on the PLUS Market in UK. PTS issued the whole of its share capital to PVTM in exchange for the entire share capital of The Private Treaty Market Limited ("PTML"), formerly a subsidiary of PVTM, and the intellectual property rights vested in a patent, applied for in August 2006. The agreement for the exchange of shares between PVTM and PTS has now been completed and PVTM will now issue them by way of a special dividend in kind to existing shareholders in PVTM prorata: 10 shares in PTS for each existing share of stock held in PVTM. The record date for the dividend is today's date, June 12, 2007, and the shares of stock in PVTM will be marked ex-dividend as of today's date. The Registrars for PTS, Computershare Investor Services PLC, PO Box 82, The Pavillions, Bridgewater Road, Bristol BS997NH, United Kingdom will issue new share certificates in respect of the PTS shares to shareholders of PVTM who present evidence of title by way of (a) definitive stock certificate(s) in respect of PVTM shares. The Registrars will dispatch the new PTS share certificates together with PVTM stock certificates in respect of the existing PVTM shares of stock to the registered owners. NO NEW SHARE CERTIFICATES IN PTS WILL BE ISSUED WITHOUT PRESENTATION OF EXISTING PVTM STOCK CERTIFICATES. Shareholders should therefore send original stock certificates in respect of PVTM shares to Computershare Investor Services PLC in order to receive the new PTS share entitlements. This will result in shareholders holding 10 new shares in PTS and their existing 1 share in PVTM in respect of each existing PVTM share. Additionally PTS is completing an institutional placing of 29,411,765 (6.4%) of its new ordinary shares to raise GBP 1.25 million (one million, two hundred and fifty thousand pounds sterling, approximately $2,465,434) of working capital. The board of directors of PTS comprises Mr. Walter Goldsmith (Chairman), Mr. Lindsay Smith (Chief Executive Officer), Mr. Austin Burrell (Non-Executive), and Mr. Robert Stevens (Non-Executive). It is intended that further appointments to the board will be made as appropriate. Mr. Austin Burrell, Chairman of PVTM, commenting on these developments, said: " ... by effecting the share exchange and being admitted to Trading on PLUS Markets in London we have now ensured that shareholders have a dealing facility in a regulated public market. They will be able to trade their shares freely in unrestricted form. We are especially delighted that institutional buyers have now become investors in the future of our trading platform and we look forward to bringing the platform into full operation." Mr. Walter Goldsmith, the Chairman of PTS, said that he was pleased to have joined a company with such opportunities to bring an innovative approach to the marketing of financial instruments, and looked forward to an exciting future for PTS. This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect PVTM's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the failure to meet schedule, or performance requirements of the Company's contracts, the Company's liquidity position, the Company's ability to obtain new contracts, and the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties the forward-looking events referred to in this release might not occur.
SOURCE Private Trading Systems, Inc.