Press releases 2004
3 November 2004
techMARK CELEBRATES FIVE YEAR ANNIVERSARY
techMARK™, the London Stock Exchange’s international Main Market segment for innovative technology companies, marked its fifth anniversary today following a period of tough trading conditions for the technology sector over its five year history.
Commenting on the anniversary of techMARK, Martin Graham, the Exchange’s Director of Market Services, said:
“We are delighted to be celebrating techMARK’s fifth birthday. Investor confidence in the technology sector has improved over the last year, with the FTSE techMARK 100 and FTSE techMARK All-Share indices outperforming the FTSE 100, NASDAQ Composite and the TecDAX-All share indices.
“The London Stock Exchange remains committed to providing innovative technology companies with peer group identification and benchmarking on techMARK. This is in addition to the benefits of a Main Market listing, which include access to one of the deepest pools of capital in Europe and internationally respected regulatory standards.”
e2v technologies, a manufacturer of high-performance electronic tube and sensor technologies, which joined the market on 25 October 2004, is the most recent admission to techMARK.
According to Keith Attwood, Chief Executive Officer of e2v technologies:
“Inclusion in techMARK will be helpful in raising e2v’s profile as an innovative technology company amongst a wider investor base.”
To mark the anniversary, Marc Gordon, Managing Director of Close Fund Management, joined Martin Graham to open the London market. Marc Gordon did this by switching on ‘The Source’, a specially commissioned artwork in the main atrium of the London Stock Exchange’s building in Paternoster Square.
At the 31 October 2004, there were 168 companies, of which 12 are international companies, on techMARK with a total market value of around £280 billion. These companies are drawn from 21 FTSE sectors and 31 FTSE sub-sectors.
For further information, please contact:
Anya Velzeboer Press Office +44 (0)20 7797 1222
Notes to editors:
This press release has been prepared using provisional figures for October 2004.
techMARK is an international segment of the London Stock Exchange’s Main Market, specifically designed for innovative technology companies. Launched in November 1999, techMARK was developed by the Exchange to create new and exciting opportunities for companies whose business is dependent on technological innovation, and for investors in these companies. It is the only market segment in the world that caters for the needs of tech companies and their investors.
In 2001, The Exchange launched techMARK mediscience, a specialist grouping within the Main Market which was developed to put the global investment community in touch with companies in the dynamic healthcare sector. Companies listed on techMARK mediscience are world leaders in the fields of science and technology; usually in the early stages of growth and investing in research and development.
techMARK has three associated indices:
• FTSE techMARK All-Share index includes all companies admitted to techMARK
• FTSE techMARK 100 index focuses on medium and smaller techMARK companies. It excludes the largest companies and includes the 100 primary listed companies that had a market capitalisation below £4bn at the launch of techMARK
• FTSE techMARK mediscience index features emerging healthcare companies