21 June 2006
The London Stock Exchange is delighted to welcome OCZ Technology Inc (OCZ) to AIM.
OCZ Technology Inc is a California-based developer, producer and distributor of award winning branded high-performance computer components, including, flash memory storage; memory modules; thermal management solutions; and computer power supplies. It is headquartered in Sunnyvale in the heart of Silicon Valley and has an international presence through offices in Canada and Holland with a worldwide distribution network. OCZ was founded in 2002 by Chief Executive Ryan Petersen – the inventor or co-inventor of much of OCZ’s proprietary technology.
OCZ’s products are designed to make computers run faster, more reliably and more efficiently both for the commercial and retail markets. The company focuses on products for the high-performance and consumer memory sectors, computer power supply units and portable memory storage (flash).
The Company raised approximately £4.91 million (net of expenses) through a placing of 7,550,000 new Common Shares at 65 pence per share to eliminate high cost of financing, significantly improve the Company’s purchasing and inventory economies and provide working capital to finance its rapid growth. OCZ is expected to have an initial market capitalisation of approximately £27.2 million on Admission.
Mr Ryan Petersen, Chief Executive, said:
“We are excited to be joining AIM. Admission will raise our international profile and will provide us with our first significant capital infusion. This will enable us to maintain our rapid rate of growth, sharply improve our financial and operational margins whilst continuing to provide a premier service and innovative products to our customers around the world. We look forward to this new period as a quoted company.”
John East and Partners Limited is acting as both Nominated Advisor and Broker.