12 April
Immersion Technologies International plc ("ITI")
Admission to AIM
ITI, the audio technology company, (formerly St James’s Energy plc) has completed its admission to AIM and the trading in its ordinary shares commenced on 12 April 2007. ITI will utilise the cash resources now at its disposal to finance the commercialisation of its high performance electrostatic loudspeakers and award-winning conventional cone loudspeakers. Chris Lambert, Chairman, said:
“Immersion’s audio technology is highly impressive, as is its management team. We are therefore ideally placed to exploit a significant market opportunity, on a global basis. With revenues already flowing from the company’s first product order, and with capacity to build on this platform, we can look forward to the future with a considerable degree of optimism.”
Craig Evans, Chief Executive, said:
“We are very pleased to commence life as a listed company. We welcome our new investors and look forward to an exciting future together. The simple fact is that the consumer electronics market is looking for a provider of high quality sound to match the advances made in visual technology. We believe that Immersion can fill that gap. Given that Nakamichi have already placed a significant order, and that several other large global players are extremely enthusiastic about our audio technology, our confidence is well founded.”
The Kerman & Co LLP team led by Michael Bennett and assisted by Michael Corcoran provided general advice to ITI and its board on the offer from St James's Energy plc and the subsequent admission to AIM of the trading in its shares