Trading on ShareMark

20 Jun 2005 12:16

Oxford Technology 3 VCT PLC20 June 2005 Oxford Technology 3 Venture Capital Trust Press Release Venture Capital Trust investors to get greater trading flexibility through ShareMark • The Oxford Technology 3 Venture Capital Trust is to begin trading on ShareMark The Oxford Technology 3 Venture Capital Trust (VCT), which invests exclusivelyin start-up and early stage technology companies will supplement their listingon the London Stock Exchanges main market by joining ShareMark, the onlinetrading market. The VCT provides funding for companies that are based within 60 miles of Oxfordand is advised by Seed Capital ltd. Lucius Cary, Seed Capitals Managing Director, comments on the move; We believethis 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 purchaseorders at a single price. Trades in the VCT will be continuously tested againstthe main market and dealt through it where possible. Orders which are not dealtahead of the next quarterly auction will then be matched to achieve optimumvolume, potentially at a price inside of the main market price spread. Iain Wallace, Managing Director of ShareMark concludes, We are delighted thatthe Oxford Technology 3 VCT has joined ShareMark. This is an attractive tradingplatform for Venture Capital Trusts which we believe will help them overcome thewide 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 theneeds of small and medium-sized companies who require a trading platform fortheir shares. ShareMark is specifically designed to overcome some of theweaknesses inherent with other markets for small to medium-sized companies,principally the wide bid/offer spreads arising from a lack of liquidity in acompanyOs shares. 2. ShareMark uses an auction-based system that allows buyers and sellers totrade a companys shares over the Internet. Auctions can be held on a weekly,monthly, or quarterly basis. Buyers and sellers benefit from greatertransparency in the trading process as all individual orders are visible via thetrading screens. Additionally, there are no market-makers taking a margin.These factors help to encourage a more active secondary market in a companysshares 3. ShareMark is designed to appeal to companies who seek a trading platformand, for those who are traded elsewhere, would like to benefit from theincreased liquidity that ShareMark encourages. 4. ShareMark is wholly owned by Share plc and is administered by The ShareCentre Ltd, which is authorised and regulated by the Financial ServicesAuthority. 5. ShareMark is not a Recognised Investment Exchange and shares traded onShareMark may be unlisted. It may be difficult for investors to buy and sellthose shares and obtain reliable information about their value or the extent ofthe risks to which the share price is exposed. The share price of shares tradedon ShareMark may fluctuate and could fall against investors interests. Theshare price may be subject to sudden and large falls in value given therestricted marketability of the shares. Investors may get back less than theirinitial investment. This document should not be regarded as a solicitation or arecommendation 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 sellinvestments and does not constitute a personal recommendation. The investmentsand services referred to in this document may not be suitable for every investorand if in doubt independent financial advice should be sought. No liability isaccepted whatsoever for any loss howsoever arising from any information in thisdocument subject to the rules of the Financial Services Authority or theFinancial Services and Markets Act 2000. Share prices, values and income can godown as well as up and investors may get back less than their initialinvestment. This information is provided by RNS The company news service from the London Stock Exchange