Trading Update
November 24 2009 - 2:00AM
UK Regulatory
TIDMTYR
RNS Number : 9636C
TyraTech, Inc.
24 November 2009
+-------------------------------------------+-------------------------------------------+
| For immediate release | 24 November 2009 |
+-------------------------------------------+-------------------------------------------+
TYRATECH, INC.
("TyraTech" or "the Company")
Trading Update
TyraTech, Inc. (AIM: TYR), a leading independent novel eco-technology company
for human, animal and environmental health, reports that following a review of
current trading, revenue expectations for the period ended 31 December 2009 are
approximately US$6 million. The Company's cash position at the year end is
expected to be approximately US$1.6 million. These changes are largely due to a
disappointing performance from the Company's subsidiary Sustainable Solutions,
which has continued to suffer from the poor performance of the US dairy market.
In 2010 the Company will focus its resources on delivering near term revenue
from existing partners. In order to exploit longer term opportunities, the
Company is exploring financing options.
TyraTech will provide a further update on trading and prospects in due course.
For further information please contact:
TyraTech Inc.
Douglas Armstrong Ph.D., Chief Executive Officer +1 (321) 409 7723
Keith Bigsby, Chief Financial Officer +1 (321) 409 7714
www.tyratech.com
Nomura Code Securities
Clare Terlouw / Chris Golden +44 (0)20 7776
1200
www.nomuracode.com
Buchanan Communications
Lisa Baderoon/ Catherine Breen / Stasa Filiplic +44 (0)20 7466 5000
www.buchanan.uk.com
About TyraTech
TyraTech was formed in 2004 to develop and commercialise products for the
control of invertebrate pests and pathogens using the Company's proprietary
technology. TyraTech, which already has products on the market, is positioned
for human health, animal health and pesticide market opportunities which total
over $32 billion globally. TyraTech's Nature's Technology provides the Company
with a wide variety of product and business opportunities in many markets and
geographic regions. The differentiating feature of these products is the
potential to have a combined level of potency and safety that other invertebrate
control products are unable to offer. TyraTech's platform brings many of the
principles of drug discovery and development to the fields of insecticides and
parasiticides. By targeting specific chemoreceptors that are found in
invertebrates but not in humans and animals, TyraTech can produce products that
use natural plant derived compounds targeting these receptors.
TyraTech's plan for the use of its technology is to develop selected proprietary
active ingredients which can then be used across a wide variety of market
segments, either by development partners or by TyraTech itself. TyraTech already
has products or partnerships in the areas of professional and horticultural
insect control, and for consumer and professional pest control. TyraTech also
has an innovative partnership with Kraft to use its natural oils to develop
functional foods for improving the health of the more than 2 billion people
worldwide subject to intestinal parasitic infections.
TyraTech also has a separate technology with associated intellectual property
that is the basis for the Sustainable Solutions business. This technology has
been incorporated into specialised dairy farm equipment for processing cattle
manure waste to a usable material for TyraTech to sell as a commercial plant
growing medium. For more information please visit www.tyratech.com.
This announcement and the information contained herein includes forward-looking
statements. Forward-looking statements are identified by words such as
"believe," "anticipate," "expect," "intend," "plan," "will,"
"may," "should," "could," "think," "estimate" and "predict," and
other similar expressions. In addition, any statements that refer to
expectations, projections or other characterisations of future events or
circumstances are forward-looking statements. We based these forward-looking
statements on our current expectations and projections about future events. Our
actual results could differ materially from those discussed in, or implied by,
these forward-looking statements. Factors that could cause actual results to
differ from those implied by the forward-looking statements include a number of
risks and uncertainties that are discussed in the section entitled "Risk
Factors" in our Admission Document dated May 2007, which could have a material
impact on the Company's long-term performance and prospects. Forward-looking
statements therefore speak only as of the date they are made and we assume no
obligation to publicly update any of them in the light of new information or
future events.
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTPUGMUGUPBPWW
Tyratech (LSE:TYR)
Historical Stock Chart
From Oct 2024 to Nov 2024
Tyratech (LSE:TYR)
Historical Stock Chart
From Nov 2023 to Nov 2024