Unlisted Passes Billion Dollar Milestone

28 July 2006

Unlisted Passes Billion Dollar Milestone

Unlisted1 Manager Bruce Cossill today announced that the aggregate market capitalisation of all securities quoted on the Unlisted securities trading facility now exceeds $1 billion.

Mr Cossill said “Over the last trading month the aggregate market capitalisation of all securities quoted on Unlisted has consistently been above the $1 billion mark based on prevailing stock prices. The billion dollar milestone is further evidence of the value of Unlisted as a securities trading facility for small to medium sized NZ companies, despite the slow issuer growth during and following the regulatory review in 2005.

“Since its launch in December 2003 Unlisted has transacted over 3,200 trades of 36.6 million shares worth $38.5 million. Consistent trading volumes and values demonstrate Unlisted’s ongoing contribution to the New Zealand capital markets, showing Unlisted continues to provide enhanced communication, price transparency, liquidity and choice to issuers and their shareholders.

“We will continue to market the facility to corporate advisors, brokers and company directors as a real option to be considered when companies think about the securities trading environment they want to provide their shareholders. Discussions are continuing with other potential issuers who are currently considering their trading arrangements, and we expect to be able to make firm announcements in the near future.”

ENDS

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