Fort Lauderdale, FL (PRWEB) November 20, 2005
Fort Lauderdale, Florida – (PRWEB) November 18, 2005 -- Newbridge Securities Corporation today announced the quarterly rebalancing and reconstitution of its Newbridge Nanotechnology Index (NNIX). Among the index constituents, we have made one addition and one removal, leaving the total number of companies included at 24. The NNIX ended the quarter at 931.47, down 3.5% from the last rebalance on August 18, 2005.
Tegal Corporation (NasdaqSC: TGAL), a maker of plasma etch and deposition equipment for the fabrication of integrated circuits and nanoelectronic devices, was an original component of the NNIX. On August 18, 2005, Tegal received notice that it was not in compliance with the minimum $1.00 per share requirement for Nasdaq listing. The company has until February 13, 2006 to regain compliance, and may be granted an additional 180 days thereafter. In light of Tegal’s past difficulties in maintaining compliance with Nasdaq listing requirements, which also serve as basic criteria for inclusion in the NNIX, we have chosen to remove the company from our Index. If Tegal is able to regain compliance, or move its listing to another national market in the U.S., we may then reconsider the company for inclusion in the NNIX.
Cambridge Display Technology [CDT] (NasdaqNM: OLED) is a developer of polymer organic light emitting diode (P-OLED) technology for plat panel displays and other applications. CDT has developed a leading portfolio of intellectual property related to P-OLEDs, which it seeks to license to display manufacturers. The UK-based company was originally founded in 1992 on technology developed at Cambridge University, and listed shares on Nasdaq in December 2004. CDT’s device technology relies on polymer films as thin as 10nm, and extends to cover the use of nanostructures including dendrimers and nanoporous particles. The company has also co-developed an ink jet-based printing system and polymer inks capable of nanoscale patterning, which it believes may offer the best solution to commercial-scale production of P-OLED displays. CDT has a current market capitalization of about $170 million.
The Newbridge Nanotechnology Index (NNIX) has been constructed to track the stock market performance of companies that are currently active in nanotechnology. The Index is comprised of companies whose operations, based on our assessment of publicly available information about products, intellectual property, research initiatives and partnerships, include a significant focus on nanotechnology. Only companies with common stock or ADRs listed on a national market or exchange in the U.S. are eligible. The base date for the Index is June 30, 2004, at which time the base value for the Index was set at 1000. The NNIX is market cap weighted, rebalanced quarterly, and now includes 24 companies.
About Newbridge Securities Corporation
Newbridge is a full-service securities brokerage firm (Member: NASD & SIPC) and a subsidiary of Newbridge Financial, Inc., an integrated financial services company. The Newbridge Institutional Research department specializes in the analysis and coverage of companies that have a strategic focus on nanotechnology. More information is available at our websites http://www.newbridgereports.com and http://www.newbridgesecurities.com.
Safe Harbor Statement
This news announcement may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance and achievements of the company to be materially different from any future results, performance or achievements expressed or implied, such as a difference including, but not limited to, those discussed in Management’s Discussion and Analysis of the Financial Condition and Results of Operation in the Company’s Annual Report on Form 10-K filed by the company with the Securities and Exchange Commission.
For important disclosures please visit: http://www.newbridgesecurities.com/index_disclosure.htm. Additional information is available upon request. Contact: David M. Keiter, Director of Research, 954-334-3450 x115.
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