Migration of Additional Shares to PTXU Line

 

TIDMPTX TIDMPTXU 
 
RNS Number : 3596K 
Protonex Technology Corporation 
19 April 2010 
 

 
 
 
 
FOR IMMEDIATE RELEASE 
 
19 April 2010 
 
 
            MIGRATION OF ADDITIONAL SHARES TO UNRESTRICTED PTXU LINE 
                          ("Protonex" or "the Company") 
 
19 APRIL 2010, SOUTHBOROUGH, MA; Protonex Technology Corporation (LSE: AIM: PTX 
and PTXU), a leading provider of advanced fuel cell power systems for portable, 
remote and mobile applications, announces that application has been made to AIM, 
a market of the London Stock Exchange for the transfer of Reg S Restricted 
Shares on the Company's restricted "PTX" trading line to Unrestricted Shares on 
its unrestricted trading line "PTXU". The transfer is expected to take effect on 
22 April 2010, whereby 3,275,919 of its Common Shares will be migrated from the 
"PTX" trading line to the "PTXU" trading line. 
 
As a result of the expiry of the statutory holding period required under the 
U.S. Securities Act of 1933 (the "Act") and the expiry of additional contractual 
restrictions, the migrating shares are now eligible under Rule 144 of the Act to 
trade in an unrestricted manner.  Physical certificates in PTXU, which do not 
carry a legend, will be mailed to shareholders who have elected to transfer 
their shares to the unrestricted line. 
 
The resulting 3,275,919 PTXU shares will be eligible for electronic trading, by 
means of Depository Interests, via the CREST electronic settlement system. 
Shareholders interested in dematerializing these PTXU shares and placing the 
PTXU shares into the CREST system should contact their broker to assist in the 
process. 
 
The Company has a total of 64,489,488 issued and outstanding Common Shares. 
After this migration, 27,970,449 of these Common Shares will be trading under 
the PTX symbol in a restricted manner as permitted by Regulation S of the Act 
and 36,519,039 of these Common Shares will be trading under the ticker PTXU in 
an unrestricted manner under an available exemption provided by Rule 144 under 
the Act.  CREST settlement is not available at this time for trades of 
restricted shares, which are under ticker symbol PTX. 
 
 
 
Further information is available at the Company's website at www.protonex.com. 
 
 
                                    - ENDS - 
 
Enquiries 
Protonex Technology Corporation                                           Tel: 
[phone] 
Scott Pearson, Chief Executive Officer 
John Connolly, Chief Financial Officer 
 
Redleaf Communications Limited                                           Tel: 
[phone] 
Press and Investor Relations 
  [e-mail] 
Samantha Robbins 
Paul Dulieu 
Michael Ward 
 
Piper Jaffray Ltd.  Tel: [phone] 
Nominated Adviser 
Jens Rosebrock 
Rupert Winckler 
 
 
Notes to Editors 
 
About Protonex Technology Corporation 
www.protonex.com 
Protonex Technology Corporation develops and manufactures compact, lightweight 
and high- performance fuel cell systems for portable power applications in the 
100 to 1000-watt range. The Company's fuel cell systems are designed to meet the 
needs of military, commercial and consumer customers for off-grid applications 
underserved by existing technologies by providing customizable, stand-alone 
portable power solutions and systems that may be hybridized with existing power 
technologies. The Company is headquartered in Southborough, Massachusetts. 
 
 
This announcement includes statements which are, or may be deemed to be, 
"forward-looking statements". All statements other than statements of historical 
facts included in this announcement, including, without limitation, those 
regarding Protonex' financial position, business strategy, plans and objectives 
of management for future operations (including development plans and objectives 
relating to Protonex' products and services) are forward-looking statements. By 
their nature, such forward-looking statements involve known and unknown risks, 
uncertainties and other important factors that could cause the actual results, 
performance or achievements of Protonex to be materially different from future 
results, performance or achievements expressed or implied by such 
forward-looking statements. These factors include but are not limited to those 
described in the Admission Document issued in connection with the Company's 
admission to AIM. 
 
Forward-looking statements may and often do differ materially from actual 
results.  Any forward-looking statements in this announcement speak only as at 
the date of this announcement and are subject to risks relating to future events 
and other risks, uncertainties and assumptions relation to Protonex' operations, 
results of operations, growth strategy and liquidity. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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