Tyratech Regulatory News (TYR)

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM JAPAN, CANADA OR AUSTRALIA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION. 

TYRATECH, INC.

("TyraTech" or the "Company")

Update to Proposed Subscription of Common Shares to raise £1m and up to a further £1.2m

Further to the announcement issued on 10 May 2010, TyraTech, Inc. (AIM: TYR), a leading independent novel pesticide company for human, animal and environmental health, is pleased to announce that its fund raise is fully subscribed and that, subject to Stockholder approval at the special meeting of the Company to be held on 19 May 2010 (the "Special Meeting") and the admission to trading on AIM of the New Common Shares, the Company has accordingly successfully raised a total of £2.2 million before expenses, by means of a subscription of 24,444,444 new shares in the capital of the Company of $0.001 each (the "New Common Shares") at 9 pence per New Common Share to provide additional working capital for the Company (the "Subscription").

In addition, the Company proposes to issue 193,556 New Common Shares in order to satisfy commission payable to a broker of the Company (not being Nomura Code Securities Limited), for introducing investors that have subscribed pursuant to the Subscription and also the issue of 555,556 New Common Shares, in order to satisfy fees payable to Nomura Code Securities Limited, the Company's nominated adviser and broker (in place of the proposed warrants referred to in the announcement issued on 10 May 2010).

As set out in the announcement of 10 May 2010, the Subscription is conditional, inter alia, on the Company passing resolutions at the Special Meeting to permit the issue of the New Common Shares to subscribers. 

A circular, providing Stockholders with information about the background to and the reasons for the Subscription, and containing a notice of the Special Meeting, was sent to Stockholders on 8 May 2010. At the Special Meeting Stockholder approval for resolutions will be sought, inter alia, to enable the Company to complete the Subscription. Stockholders representing sufficient Common Shares to approve the resolutions have provided irrevocable undertakings to vote in favour of the resolutions.

The New Common Shares are expected to be admitted to trading on AIM on 20 May 2010.

A further announcement as to the results of the Special Meeting will be made in due course.

For further information please contact:

TyraTech, Inc.

Alan Reade, Executive Chairman +1 (321) 409 7724

Keith Bigsby, Chief Financial Officer +1 (321) 409 7714

www.tyratech.com

Nomura Code Securities Limited

Chris Collins and Richard Potts +44 (0) 20 7776 1200

www.nomuracode.com

Buchanan Communications

Lisa Baderoon, Catherine Breen +44 (0) 30 7466 5000

and Stasa Filiplic

www.buchanan.uk.com

DISCLAIMER

Nomura Code Securities Limited is acting as nominated adviser and broker to the Company for the purpose of the AIM Rules. Nomura Code Securities Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for the Company in relation to the Subscription. Nomura Code Securities Limited is not acting for any other person in connection with the matters referred to in this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Nomura Code Securities Limited or for giving advice in relation to the matters referred to in this announcement.

This announcement has been issued by the Company and is the sole responsibility of the Company.