Lifeline Scientific, Inc Share Trading Lines / Registers (7791Y)

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RNS Number : 7791Y

Lifeline Scientific, Inc

03 December 2014

3 December 2014

Lifeline Scientific, Inc.

("Lifeline" or "the Company")

Share Trading Lines / Registers

Lifeline Scientific (AIM: LSIC.L & LSI.L), the transplantation technology company, announces the upcoming consolidation of the Company's two existing share registers into one and the proposed cancellation of the Regulation S restricted trading line LSI.L, for the purpose of increasing the liquidity of Lifeline shares and increasing transparency around Lifeline's share Capital, total holding rights and market capitalization in order to provide shareholders with clarification of Lifeline's position in the market.

In addition, there are certain upcoming EU regulatory developments, which are described in more detail below, that will potentially affect Lifeline's shareholders' ability to trade their shares. The actions the Company proposes to implement will ensure shareholders will be in a better position to trade their Lifeline shares, should they want to, in line with the new regulations.

On September 17, 2014, the European Union Regulation on Central Securities Depositories ("CSDR") came into effect. These regulations require all trading in shares executed on a trading venue, including the AIM market of the London Stock Exchange ("AIM"), to be settled electronically. The London Stock Exchange has announced that it intends to amend its rules so that on exchange transactions are able to comply with article 3.2 of CSDR. However, once implemented, Lifeline shareholders will only be able to trade their Lifeline shares on AIM if such trades are settled electronically through CREST. Though it will still be possible for shareholders to hold their shares in certificated form until they wish to trade them.

In order to address these issues, and to prepare for the effective date of the CSDR, the Company has made an application to the London Stock Exchange and is preparing to cancel the Regulation S trading line LSI.L so that all future trading will be under its DI Line LSIC.L ISIN US53223V1017, resulting in one price quotation, rather than two, which has been the case for many years, and will remove the possible differences in the trading prices. In addition all shareholders who are currently registered on the LSI.L restricted register will have their holdings transferred onto the LSIC.L non restricted register, which will allow shareholders to hold either electronic shares or certificates, with the option to replace their paper certificates with shares in electronic form if they have access to a CREST (electronic) account.

Currently Lifeline shares are held as: (i) unrestricted shares held electronically through CREST; (ii) unrestricted shares in certificated form; and (iii) restricted shares in certificated form. All three categories of shares have identical voting rights. In addition, due to certain discrepancies in US and UK regulatory requirements, the Company established the unrestricted trading line which resulted in not just two separate trading lines, LSIC.L and LSI.L but also two separate share registers. Although no restrictions currently apply to either of the two registers, the trading lines continue to trade at different prices.

We will notify all shareholders shortly via a second regulatory news release and shareholders should expect to receive additional and more detailed information from the Company's registrars in due course.

Currently there are 19,496,434 common shares in issue and each share carries the right to one vote. 6,360,914 common shares are registered on the restricted Regulation S register although no restrictions currently apply to these shares, which are held in certificated form only. These common shares can be switched to the non-restricted line but currently trade under TIDM LSI.L, ISIN number USU529641008. The remaining 13,135,520 common shares have no restrictions, are either held in certificated or CREST (electronic) format and trade under TIDM LSIC.L, ISIN number US53223V1017.

For further information:

 
 Lifeline Scientific,                  www.lifeline-scientific.com 
  Inc. 
 David Kravitz, CEO                           Tel: [phone] 
 Lisa Kieres, CFO                             Tel: [phone] 
 
 Panmure Gordon (UK)                      Tel: [phone] 
  Limited 
 Wayne Slyfield/ Freddy Crossley 
  (Corporate Finance) 
 Maisie Atkinson (Corporate 
  Broking) 
 
 Walbrook                                 Tel: [phone] 
                                        or [e-mail] 
 Paul McManus                             Mob: [phone] 
 Mike Wort                                Mob: [phone] 
 
 

About Lifeline Scientific Inc.

Lifeline Scientific, Inc. is a Chicago-based global medical technology company with regional offices in Brussels and Sao Paulo. The Company's focus is the development of innovative products that improve transplant outcomes and lower the overall costs of transplantation. Its lead product is the market-leading and clinically validated LifePort Kidney Transporter. Devices for preservation of the liver, pancreas, heart and lung are in late stage pre-clinical development. For more information please visit www.lifeline-scientific.com

About LifePort Kidney Transporter

Created with the challenges of organ recovery and transport in mind, LifePort Kidney Transporter is a proprietary medical device designed to provide improved kidney preservation, evaluation and transport prior to transplantation. Today, it is widely recognised as the world's leading machine preservation device for kidneys. Employed by surgeons in over 160 leading transplant programmes in 27 countries worldwide, LifePorts have successfully preserved over 47,000 kidneys indicated for clinical transplant. For more information please visit www.organ-recovery.com

This information is provided by RNS

The company news service from the London Stock Exchange

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