Press Release
Thermodynetics announces plans to list
shares of a UK Holding Company for
Turbotec Products on the London Stock
Exchange’s AIM Market
Wednesday, March 15th, 2006
THERMODYNETICS, INC., WINDSOR, CT (TDYT:OTCBB)
Thermodynetics, Inc. plans to admit
the shares of a United Kingdom (UK)
registered subsidiary to trading on the
London Stock Exchange’s AIM market.
Thermodynetics has engaged Dawnay,
Day Corporate Finance Limited and Dawnay,
Day Townsley to act as its Nominated
Advisor and Broker to the UK subsidiary
respectively, and has engaged other
advisors in London, to advise on the
proposed public offering of its UK
subsidiary and the admission of its
issued share capital to trading on AIM.
It is intended that the UK subsidiary
will be the holding company for
Thermodynetics’ operating subsidiary,
Turbotec Products, Inc.
Shares in the new UK company, which
has been formed, will be offered for
subscription and sale to non-US
investors prior to the admission of the
new company’s issued share capital to
trading on AIM. The public offering is
expected to be completed in April 2006
and to raise approximately $7 million
after all expenses. The net proceeds of
the issue of new shares will be used to
reduce debt, for expansion and for
working capital for Turbotec Products
Inc.
There can, of course, be no assurance
that the offering and admission will
proceed as the process is subject to
finalization and to market conditions
and the offering will not be
underwritten.
ABOUT THERMODYNETICS and TURBOTEC
PRODUCTS
Thermodynetics, Inc.’s subsidiary,
Turbotec Products, Inc. is a
manufacturer of high performance, high
quality heat exchangers, fabricated
metal components and flexible connector
products for heat transfer,
transportation, and plumbing
applications. The Company markets its
products in the United States, Canada
and abroad to customers in the space
conditioning, refrigeration, automotive,
biomedical, plumbing, appliance, water
heating and aerospace industries.
Turbotec Products, Inc.’s products
are presently used in heat pumps as
condensers and evaporators in heating,
refrigeration, food processing and
air-conditioning systems; in the
biomedical field (as blood or
intravenous fluid heat exchangers); in
heat recovery units used to heat water
with waste heat from air conditioning,
refrigeration systems; in ice production
systems; in laser coolers, beverage
dispensers, food processing systems,
chillers, heat pump systems and boilers,
and modules for use as components in
large condensing or desuperheater
systems; in marine air conditioning
systems and swimming pool and spa
heating systems; and are generally
usable in most applications where heat
transfer is required. The tubing is also
used as a flexible connector in plumbing
applications.
FORWARD LOOKING STATEMENTS
This report contains certain
forward-looking statements regarding the
Company, its business prospects and
results of operations that are subject
to certain risks and uncertainties posed
by many factors and events that could
cause the Company’s actual business,
prospects and results of operations to
differ materially from those that may be
anticipated by such forward-looking
statements. Factors that may affect such
forward-looking statements include,
without limitation: the Company’s
ability to successfully and timely
develop and finance new projects, the
impact of competition on the Company’s
revenues, changes in unit prices, and
supply and demand for the Company’s
tubing product lines in the markets
served. When used, words such as
"believes," "anticipates," "expects,"
"continue", "may", "plan", "predict",
"should", "will", "intends" and similar
expressions are intended to identify
forward-looking statements, but are not
the exclusive means of identifying
forward-looking statements. Readers are
cautioned not to place undue reliance on
these forward-looking statements, which
speak only as of the date of this
report. The Company undertakes no
obligation to revise any forward-looking
statements in order to reflect events or
circumstances that may subsequently
arise. Readers are urged to carefully
review and consider the various
disclosures made by the Company in this
report, news releases, and other reports
filed with the Securities and Exchange
Commission that attempt to advise
interested parties of the risks and
factors that may affect the Company’s
business.