In response to increased US investor enquiries and as part of a determined bid to diversify its shareholder base and increase liquidity, dye sensitized solar cell frontrunner, Dyesol Limited (ASX:DYE, FWB: D5I, OTCQX:DYSOY), has upgraded from the Over-the-Counter (OTC) Pink marketplace in the U.S.A. to the top tier of the OTC market - the OTCQX.
This move significantly increases information transparency to U.S. investors by providing a full record of all company announcements, financial reports and shareholder notifications from the preceding 24 months and a vehicle for easy access to quotes, company announcements and other disclosures in real-time.
The OTCQX marketplace is exclusively for companies that meet the highest financial standards and undergo a qualitative review.
The Bank of New York Mellon is Dyesol Ltd.'s Principal American Liaison and the company launched its Level 1 American Depositary Receipt (ADR) program in early 2011 at a ratio of 1 ADR to 20 Australian shares.
"Increased investor interest in the United States is being driven by the Dyesol Ltd. American subsidiary, Dyesol Inc., joint venture with Pilkington North America called DyeTec Solar, and by the mandate to incorporate 'sustainability' and 'green investment' options into a growing number of investment portfolios," said Dyesol Chairman Richard Caldwell.
"Dyesol is at the cutting edge in the photovoltaic industry as the supplier of Dye Solar Cell (DSC) materials, technology and know-how to multinational manufacturing partners across the globe. Our DSC photovoltaic technology enables metal, glass and polymeric based products in the building, transport and electronics sectors to generate energy and improve energy efficiency." Mr. Caldwell said.
"Integrated into building and automotive products, DSC has the ability to turn buildings and vehicles into efficient, aesthetic, and inexpensive power generators. With a number of pilot programs successfully completed, Dyesol, an Australian headquartered company, and its Joint Venture (JV) partners across the world are on track to offer DSC as a large-scale commercial product within the next few years." Joint-Founder and company Director, Sylvia Tulloch explained.
U.S. retail-oriented broking houses and institutions with obligations to invest only in U.S. traded stocks will be able to add "green investment" to their portfolios with Dyesol equity.
The establishment of Dyesol's ADR program - and now successful trading on the OTCQX - creates a broader secondary market for Dyesol's securities and enables U.S. investors to trade in the Company's securities without the concern of cross-currency transactions.
