Press Release
Thermodynetics’ UK subsidiary plans
share listing on the London Stock
Exchange’s AIM Market
Tuesday, April 25th, 2006
THERMODYNETICS, INC., WINDSOR, CT (TDYT:OTCBB)
Thermodynetics’ UK subsidiary,
Turbotec Products PLC (“TPP”), has
notified the London Stock Exchange of
its intention to apply for its shares to
be admitted to trading on the AIM market
(“Admission”). Turbotec Products, Inc.
(“Turbotec”) is now a wholly owned
subsidiary of TPP.
The expectation is that the Admission
will be accomplished by the end of April
and that approximately $8.5 million will
be raised by way of a share placing. The
broker handling the transaction is
Dawnay, Day Capital Markets and TPP’s
Nominated Adviser is Dawnay, Day
Corporate Finance. Following the share
placing and Admission, Thermodynetics
will own approximately 56.32% of TPP and
UK institutional investors will own the
remainder.
ABOUT THERMODYNETICS, TURBOTEC
PRODUCTS PLC (“TPP”) AND TURBOTEC
PRODUCTS, INC (“ TURBOTEC”)
Turbotec is a wholly owned operating
subsidiary of TPP which in turn is a
subsidiary of Thermodynetics. Turbotec
is a manufacturer of high performance,
high quality heat exchangers, fabricated
metal components and flexible connector
products for heat transfer,
transportation, and plumbing
applications. Turbotec 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'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; 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
Thermodynetics, TPP and Turbotec, their
business prospects and results of
operations that are subject to certain
risks and uncertainties posed by many
factors and events that could cause
their 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 ability to
successfully and timely develop and
finance new projects, the impact of
competition on revenues, changes in unit
prices, and supply and demand for
Turbotec’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. Thermodynetics, TPP and Turbotec
undertake 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 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 their respective
businesses.