New Issue on Prague Stock Exchange
The Prague Stock Exchange announces the listing of the shares of common stock of Borealis Exploration Limited (“Borealis”). The trading of Borealis shares (ISIN GI000A1J9JJ0) will begin on the Prime Market on 10th June 2013. Borealis will trade under the symbol BOREY. First Advantage, s.r.o. is the listing agent of Borealis.
Borealis, originally established in Canada by an Act of Parliament in 1968, redomicilied to Gibraltar in 1998. The company’s original activity was mineral exploration and development. Subsequent expansion led to the creation of a family of companies under Borealis (the “Borealis Family of Companies”) whose current focus is on the search for and support of technologies with significant industrial potential and their subsequent commercialization. The Borealis Family of Companies is the holder of more than a hundred issued or published patents in fields such as aviation, quantum physics, thermal management, power production relating mostly to thermionics, the custom design of electron-volt work functions and the myriad of applications using these various technologies and power generation. For example, the Borealis Family of Companies includes a revolutionary system for aviation that uses a hybrid-electric drive system within aircraft wheels, providing full ground mobility for both pushback and taxi operations without using jet engines or external tugs. Aircraft will then be electrically driven to and from the terminal gate (and runway). The system has been successfully tested, most notably at Vaclav Havel Prague Airport in 2012.
The shares of Borealis currently trade on the unregulated OTC market in the United States. Borealis went public in 1969 and currently has several thousand shareholders. “We have decided to list on the Prague Stock Exchange in order to provide our existing shareholders with a globally available and recognized platform for the public trading of the Borealis shares and to stimulate further development of the Borealis Family of Companies’ Technologies by opening further opportunities to seek new progressive platforms for Borealis in the Czech Republic and Central Europe that meet the investment criteria of Borealis”, says Dr. Rodney T. Cox, Chairman of the Board and CEO of Borealis.
The listing of the shares of common stock of Borealis on the Prague Stock Exchange is a technical listing, i.e. the company will not offer any new shares. The listing will provide existing shareholders the opportunity to trade previously issued shares on the Prague Stock Exchange’s regulated market and new shareholders the opportunity to purchase shares from third-parties. “It is an honour for us that of all the opportunities offered by European markets, Borealis has chosen the Prague Stock Exchange for its listing. This is a proof that international business perceives us as an attractive platform”, says Petr Koblic, CEO of the CEE Stock Exchange Group and director of the Prague Stock Exchange.
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