TIDMCLST

RNS Number : 9159S

ClearStar,Inc.

13 July 2015

13 July 2015

ClearStar Inc.

("ClearStar" or the "Company")

(AIM: CLST)

ClearStar Shares to be traded on CREST

ClearStar announces that it has introduced a Depository Interest programme with Capita IRG Trustees Limited ("Capita") to enable its ordinary shares to be traded in CREST.

At the time of Admission of ClearStar's Ordinary Shares to trading on AIM on 11 July 2014, restrictions on transfer under the United States securities laws required that its shares had to be held in certificated form for a period of at least 12 months following Admission. In its Admission Document, ClearStar stated that Depository Interests representing its ordinary shares were expected to be eligible for admission to CREST after the end of the 12 month period.

It is expected that the Depository Interest programme will be effective from 14 July 2015. Under this programme, Capita will issue Depository Interests to qualifying shareholders on a one-for-one basis for each qualifying security in the Company held by that qualifying shareholder. Capita will appear on the register of members of the Company as the shareholder but the beneficial interest and all rights in the relevant ordinary shares will remain with the original shareholder. The benefit of dematerialisation is that the Depository Interests can be held and transferred through CREST, thereby enhancing the liquidity of the Company's securities.

As a result of the Depository Interest programme, it is expected that there will be two lines of stock in ClearStar as of 14 July 2015, relating to both the restricted and the unrestricted lines of stock.

As of 14 July 2015, when it is expected that the new line of stock will be admitted to trading on the London Stock Exchange, the unrestricted ordinary shares (ISIN KYG2294M1134) will trade under the ticker CLSU and will be able to be traded as Depository Interests in CREST. The restricted ordinary shares will continue to trade outside CREST, due to restrictions imposed by United States securities laws, with the existing ticker CLST.

The Company will be sending to its shareholders a letter explaining the process of moving shares between the lines of stock and dematerialising them into Depositary Interests. The form of this letter will be available on the Company's website at www.clearstar.net.

Enquiries:

 
  ClearStar, Inc. 
----------------------------  ----------------- 
 Robert J. Vale, Chief 
  Executive Officer 
  David Pattillo, Chief 
  Financial Officer            +1 770 416 1900 
----------------------------  ----------------- 
 Cenkos Securities plc 
  (Nomad) 
----------------------------  ----------------- 
 Max Hartley, Mark Connelly    +44 20 7397 8900 
----------------------------  ----------------- 
 Luther Pendragon Ltd 
  (Financial PR) 
----------------------------  ----------------- 
 Harry Chathli, Claire 
  Norbury, Oliver Hibberd      +44 20 7618 9100 
----------------------------  -----------------

About ClearStar

ClearStar, Inc. is a leading and trusted background check technology, strategic services, and decision-making information provider to employers and background screening companies.

A seven-time Inc. 5000 honouree and founding member of the National Association of Professional Background Screeners, ClearStar has provided innovative technology solutions to businesses in the human capital management industry from its corporate offices in Alpharetta, Georgia since 1995. For more information about ClearStar, please visit: www.clearstar.net.

This information is provided by RNS

The company news service from the London Stock Exchange

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