10 January 2012
The Manager ASX Limited Exchange Centre
20 Bridge Street
Sydney NSW 2000
Dear Sirs,
Audio Pixels Holdings Limited (AKP:ASX; OTC:ADPXY) advises the Market pursuant to ASX Listing Rule 3.10A that 4,887,807 unquoted restricted ordinary shares will be released from ASX escrow on 25 January 2012 and will still be subject to voluntary escrow until 25
January 2013.
These 4,887,807 restricted ordinary securities were issued to
the vendors of Audio Pixels Limited on 25 January 2011 and
were restricted by the ASX for a period of 12 months from the
date of issue. These 4,887,807 ordinary shares are still
subject to a further 12 month voluntary escrow period until
25 January 2013, and are subject to a holding lock by the
company share registrar, and in accordance with the Israeli
Tax Authorities (ITA) lockup restrictions.
These 4,887,807 ordinary shares are registered in the name of
S.G.S. Trusts Limited which is the ITA approved trustee who
also requires a voluntary restriction on these shares to
protect its position, however at this stage the ITA have not
determined a formal date for release
which may be beyond 25 January 2013. To the extent the ITA
will determine in the tax ruling a formal date for release
beyond 25 January 2013, the 4,887,807 shares will be
restricted from trading in accordance with the ITA
conditions.
As these 4,887,807 ordinary shares are currently unquoted
securities, the Company will apply for quotation of these
ordinary shares after the end of the ASX escrow period on 25
January
2012 as required by ASX Listing Rule 2.8.2. Yours
faithfully,
Ian Dennis
Director
Audio Pixels Holdings Limited