The Russell 3000® Index is comprised principally of the 3,000 largest and most liquid stocks based and traded in the U.S. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes. Membership in the Russell indexes remains in place for one year.
"Being included in the Russell indexes so soon after completing Unilife's listing on the NASDAQ Global Market is a significant validation of our redomiciliation from Australia to the U.S.," stated Alan Shortall, CEO of Unilife Corporation. "Membership in these widely followed indexes will help increase Unilife's visibility among investors in the U.S. equity market."
"Most companies that joined the Russell 3000 and associated indexes, including Unilife Corporation, experienced a significant increase in the trading volume of their common stock on U.S. exchanges on Friday, June 25. There were almost seven million Unilife shares traded on Friday, which is the equivalent of 41.7 million CDIs with a value of approximately US$50 million. We expect much of the increase in Unilife trading volume on Friday represented the inflow of U.S. investors that track the Russell indexes." said Mr. Shortall.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading US$3.9 trillion in assets currently are benchmarked to the Russell indexes. These investment tools originated from Russell's multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.
Russell Investments provides strategic advice, world-class implementation, state-of-the-art performance benchmarks and a range of institutional-quality investment products. Russell has $179 billion in assets under management as of March 31, 2010, and serves individual, institutional and advisor clients in more than 40 countries. Founded in 1936, Russell is a subsidiary of The Northwestern Mutual Life Insurance Company.
About Unilife Corporation
Unilife Corporation is a U.S.-based medical device company focused on the design, development, manufacture and supply of a proprietary range of retractable syringes. Primary target customers for Unilife products include pharmaceutical manufacturers, suppliers of medical equipment to healthcare facilities and patients who self-administer prescription medication. These patent-protected syringes incorporate automatic and fully-integrated safety features which are designed to protect those at risk of needlestick injuries and unsafe injection practices. Unilife is ISO 13485 certified and has FDA-registered medical device manufacturing facilities in Pennsylvania.
This press release contains forward-looking statements. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future are forward-looking statements. These forward-looking statements are based on management's beliefs and assumptions and on information currently available to our management. Our management believes that these forward-looking statements are reasonable as and when made. However, you should not place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. We do not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results, events and developments to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described in "Item 1A. Risk Factors" and elsewhere in our registration statement on Form 10 and those described from time to time in our periodic reports which we file with the Securities and Exchange Commission.