CALGARY, ALBERTA--The Board of Turbo Genset Inc. (the "Company")
has been made increasingly aware of the wishes of its numerous
present and future shareholders in Europe to provide a market for
the Company's shares in the European time zone.
The Company's increasing profile and the many developments of its products are
gaining growing attention in the United Kingdom and Europe. The
Company believes therefore that this facility will enable more
investors to participate in its equity. The Company therefore has
decided to make application for a dealing facility on the OFEX
market in London. The OFEX market is operated by the market
making company J.P. Jenkins & Co. as a matched bargain facility.
Trading must be conducted by individual brokers through J.P.
Jenkins & Co. Newstrack Ltd., a subsidiary, provides on screen
prices and regular bulletins and announcements via its Newstrack
screen service (Tel: 0171 488 3334/Fax: 0171 481 4045) on all
companies covered on OFEX. At present 200 companies are
represented with a combined market capitalisation of over œ2.05
billion; the largest company has a value in excess of œ400 million.
From discussions of the Company in respect of a dealing facility
on OFEX , it is expected that at least one major broker will
prepare research material on the Company. It is anticipated that
a dealing facility for the Company on OFEX will become operative
by the end of March 1999.
The Company's core technology is a novel, high-speed electrical
alternator which is directly coupled to a small gas turbine
engine. Its product is a portable 40kW electrical generation
system combining the high speed alternator with a proprietary gas
turbine, power conditioning and control electronics in a highly
compact package. Applications of this technology include portable
and stand-by power, co-generation, as well as numerous mobile applications.
High-speed alternators producing 40kW and 50kW have been
successfully developed and are currently running on long term
tests at the company facilities, close to London Heathrow Airport.
Power generation units driven by small gas turbine engines have
been used for demonstrations to prospective customers. The company
is planning to start deliveries of the complete gensets to
selected customers for on-site evaluation in the fourth quarter ofthis year.
This press release includes forward-looking statements and
although management of Turbo Genset Inc. believes that its
expectations are based upon reasonable assumptions, it can give no
assurance that its goals will be achieved. Important factors that
could cause actual results to differ materially from those in the
forward-looking statements contained herein include, among others,
the success and timing of certain projects, agreements and orders,
the success of previous or further acquisitions, growth of the
Corporations revenue base, the ability to generate reasonable
gross profit margins on revenues that realised, and changes in the
demand for the Corporation's products during the periods covered
by the forward looking statements. Interested parties are urged to
refer to additional information regarding Turbo Genset Inc. which
is contained in its reports to the Alberta Securities Commission
and Quebec Securities Commission. -30- |
