IFC: Smaller Business Will Benefit from IFC’s Trade Finance Program in Mongolia

Under the agreement, TDB will be able to issue various trade finance instruments guaranteed by IFC up to the amount of $5 million for tenors up to 3 years, allowing the bank to be more active in financing its clients’ international trade activities. IFC is the private sector arm of the World Bank Group. Its $500 million Global Trade Finance Program promotes trade with emerging markets worldwide by supporting flows of goods and services to and from developing countries. Through the program, IFC provides guarantee coverage of bank risk in emerging markets, allowing recipients to expand their trade finance transactions within an extensive network of countries and banks and to enhance their trade finance coverage.
The signing of this agreement is an important part of TDB’s strategy to diversify and develop its financial services and banking products.
Richard Ranken, IFC’s director for East Asia said, “TDB’s participation in the Global Trade Finance Program will provide a boost to trade and investment in Mongolia. Through the program, IFC will support Mongolia’s small and medium enterprises, which rely on imports of machinery and equipment to grow their businesses.”

Z Trim Sees Benefit in Move to OTC Trading Arena

MUNDELEIN, Ill., Aug 13, 2008 /PRNewswire-FirstCall via COMTEX/ -- In a move that will improve management control of the company, Z Trim Holdings, announced today that it intends to file an application with the Securities and Exchange Commission concerning its voluntary withdrawal of its common stock from listing on the American Stock Exchange and seeking withdrawal of registration of its common stock under Section 12(b) of the Securities Exchange Act of 1934. Z Trim anticipates that the application with the SEC will be filed on Monday August 25, 2008 and the voluntary withdrawal will take effect on Thursday September 4, 2008. The Company is currently working with a sponsoring market maker to complete the process to qualify trades in the Company's common stock to be quoted on the Over-the-Counter Bulletin Board.

The decision follows an examination undertaken by Z Trim management comparing the types of benefits generally realized by a listing on Amex versus the status of Z Trim Holdings currently.

While there are benefits of an Amex listing for companies that fit a particular profile, we are realizing no particular benefit at this point in our life cycle," said Brian Chaiken, the company's Chief Financial Officer. "The direct and indirect costs of such a listing in terms of finance, working capital, human resources and time can be more efficiently managed as an OTC company. Significantly, this move allows us to more quickly and easily gain access to financing for working capital.

We recognize that at first glance this move from Amex may not appear to be positive to all," Cohen said. "After thorough examination of all information before us, however, it is readily apparent that the added expenses relating to maintaining our listing status do not fit with current management's goal of concentrating all of our resources on building our business," he added. "We are committed to executing our business model, achieving profitability and maximizing shareholder value. As we continue to successfully execute our plans, we will reconsider joining an exchange."