NEW YORK, July 2, 2019 /PRNewswire/ -- Pareteum
Corporation (Nasdaq: TEUM), ("Pareteum" or the "Company"), a
rapidly growing Cloud Communications Platform company, joined the
Russell 3000® Index at the conclusion of the Russell
U.S. Indexes annual reconstitution, effective after the U.S. market
opened on July 1, according to a
preliminary list of final additions posted on June 28.
"We are pleased to be added to the Russell 3000® Index as it
raises Pareteum's profile among the investment community, may
initiate increased institutional ownership of our stock, and is
another step towards our commitment to generating long-term
shareholder value," said Hal Turner,
Pareteum's chairman and chief executive officer. "We are executing
on our growth strategy and we believe inclusion in the index is a
testament to the strong performance we have achieved. We remain
focused on delivering continued growth and capitalizing on the
large global opportunity before us."
Annual Russell Indexes reconstitution captures the 4,000 largest
U.S. stocks as of May 10, ranking
them by total market capitalization. Membership in the U.S. all cap
Russell 3000® Index, which remains in place for one
year, means automatic inclusion in the large cap Russell
1000® Index or small cap Russell
2000® Index as well as the appropriate growth and
value style indexes. FTSE Russell determines membership for its
Russell indexes primarily by objective, market-capitalization
rankings and style attributes.
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $9 trillion in assets are benchmarked against
Russell's U.S. indexes. Russell indexes are part of FTSE Russell, a
leading global index provider.
For more information on the Russell 3000® Index and
the Russell indexes reconstitution, go to the "Russell
Reconstitution" section on the FTSE Russell website.
About FTSE Russell
FTSE Russell is a leading global
index provider creating and managing a wide range of indexes, data
and analytic solutions to meet client needs across asset classes,
style and strategies. Covering 98% of the investable market, FTSE
Russell indexes offer a true picture of global markets, combined
with the specialist knowledge gained from developing local
benchmarks around the world.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately
$16.2 trillion is currently
benchmarked to FTSE Russell indexes. For over 30 years, leading
asset owners, asset managers, ETF providers and investment banks
have chosen FTSE Russell indexes to benchmark their investment
performance and create investment funds, ETFs, structured products
and index-based derivatives. FTSE Russell indexes also provide
clients with tools for asset allocation, investment strategy
analysis and risk management.
A core set of universal principles guides FTSE Russell index
design and management: a transparent rules-based methodology is
informed by independent committees of leading market participants.
FTSE Russell is focused on index innovation and customer
partnership applying the highest industry standards and embracing
the IOSCO Principles. FTSE Russell is wholly owned by London Stock
Exchange Group.
For more information, visit www.ftserussell.com.
About Pareteum:
Millions of people and devices are connected around the world using
Pareteum's Global Cloud Communications Platform, enhancing their
mobile experience. Pareteum unleashes the power of applications and
mobile services, bringing secure, ubiquitous, scalable, and
seamlessly available voice, video, SMS/text messaging, and data,
media and content enablement to our customers, making worldwide
communications services easily and economically accessible to
everyone. By harnessing the value of our cloud communications
platform, Pareteum serves enterprises, communications service
providers, early stage innovators, developers, IoT, and
telecommunications infrastructure providers. Pareteum envisions a
new mobile communications experience imagining what will be, and
delivering now. Pareteum currently has offices in North America, South
America, Spain,
Bahrain, Singapore, India, Indonesia, Germany, Belgium, United
Kingdom, Russia, and
the Netherlands. For more
information please visit: www.pareteum.com.
Forward Looking Statements:
Certain statements contained herein constitute "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Such statements may include, without
limitation, statements with respect to Pareteum's plans and
objectives, projections, expectations and intentions. These
forward-looking statements are based on current expectations,
estimates and projections about Pareteum's industry, management's
beliefs and certain assumptions made by management. Readers are
cautioned that any such forward-looking statements are not
guarantees of future performance and are subject to certain risks,
uncertainties and assumptions that are difficult to predict.
Because such statements involve risks and uncertainties, the actual
results and performance of Pareteum may differ materially from the
results expressed or implied by such forward-looking statements.
Given these uncertainties, readers are cautioned not to place undue
reliance on such forward-looking statements. Unless otherwise
required by law, Pareteum also disclaims any obligation to update
its view of any such risks or uncertainties or to announce publicly
the result of any revisions to the forward-looking statements made
here. Additional information concerning certain risks and
uncertainties that could cause actual results to differ materially
from those projected or suggested in Pareteum's filings with the
Securities and Exchange Commission, copies of which are available
from the SEC or may be obtained upon request from Pareteum
Corporation.
Media Inquiries
Press@pareteum.com
Pareteum Investor Relations
Contacts:
Michael
Bloom
Investor Relations
+1 650 232-4341
michael.bloom@pareteum.com
Allise Furlani
The Blueshirt Group
+1 212-331-8433
allise@blueshirtgroup.com
Carrie Howes
Rayleigh Capital
European- Global IR
+1 650-232-4238
carrie.howes@pareteum.com
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SOURCE Pareteum Corporation