Trading on ShareMark
Published: 20/06/2005, 12:09
Oxford Technology 2 VCT PLC 20 June 2005 Oxford Technology 2 Venture Capital Trust Press Release Venture Capital Trust investors to get greater trading flexibility through ShareMark • The Oxford Technology 2 Venture Capital Trust is to begin trading on ShareMark The Oxford Technology 2 Venture Capital Trust (VCT), which invests exclusively in start-up and early stage technology companies will supplement their listing on the London Stock Exchanges main market by joining ShareMark, the online trading market. The VCT provides funding for companies that are based within 60 miles of Oxford and is advised by Seed Capital ltd. Lucius Cary, Seed Capitals Managing Director, comments on the move; We believe this move will benefit new and existing investors by creating greater liquidity, enabling them to trade more easily, and with no bid/offer spread. ShareMark operates via periodic online auctions to match sale and purchase orders at a single price. Trades in the VCT will be continuously tested against the main market and dealt through it where possible. Orders which are not dealt ahead of the next quarterly auction will then be matched to achieve optimum volume, potentially at a price inside of the main market price spread. Iain Wallace, Managing Director of ShareMark concludes, We are delighted that the Oxford Technology 2 VCT has joined ShareMark. This is an attractive trading platform for Venture Capital Trusts which we believe will help them overcome the wide bid/offer spreads they can suffer. Ends For further information please contact: Iain Wallace, Managing Director, ShareMark - 01296 439 410 Lucius Cary, Managing Director, Seed Capital - 01865 784466 Notes for Editors: 1. ShareMark (www.sharemark.co.uk) was launched in June 2000 to meet the needs of small and medium-sized companies who require a trading platform for their shares. ShareMark is specifically designed to overcome some of the weaknesses inherent with other markets for small to medium-sized companies, principally the wide bid/offer spreads arising from a lack of liquidity in a company's shares. 2. ShareMark uses an auction-based system that allows buyers and sellers to trade a company's shares over the Internet. Auctions can be held on a weekly, monthly, or quarterly basis. Buyers and sellers benefit from greater transparency in the trading process as all individual orders are visible via the trading screens. Additionally, there are no market-makers taking a margin. These factors help to encourage a more active secondary market in a company's shares 3. ShareMark is designed to appeal to companies who seek a trading platform and, for those who are traded elsewhere, would like to benefit from the increased liquidity that ShareMark encourages. 4. ShareMark is wholly owned by Share plc and is administered by The Share Centre Ltd, which is authorised and regulated by the Financial Services Authority. 5. ShareMark is not a Recognised Investment Exchange and shares traded on ShareMark may be unlisted. It may be difficult for investors to buy and sell those shares and obtain reliable information about their value or the extent of the risks to which the share price is exposed. The share price of shares traded on ShareMark may fluctuate and could fall against investors interests. The share price may be subject to sudden and large falls in value given the restricted marketability of the shares. Investors may get back less than their initial investment. This document should not be regarded as a solicitation or a recommendation to buy, sell or subscribe to any investment product or service. ShareMark is a Registered Trademark of The Share Centre Ltd. Risk Warning: This document is not intended to constitute an offer or agreement to buy or sell investments and does not constitute a personal recommendation. The investments and services referred to in this document may not be suitable for every investor and if in doubt independent financial advice should be sought. No liability is accepted whatsoever for any loss howsoever arising from any information in this document subject to the rules of the Financial Services Authority or the Financial Services and Markets Act 2000. Share prices, values and income can go down as well as up and investors may get back less than their initial investment. This information is provided by RNS The company news service from the London Stock Exchange