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Pareteum Set to Join Russell 3000 IndexNEW YORK, June 10, 2019 /PRNewswire/ -- Pareteum Corporation (Nasdaq: TEUM), ("Pareteum" or the "Company"), a rapidly growing Cloud Communications Platform company, is set to join the Russell 3000® Index at the conclusion of the Russell U.S. Indexes annual reconstitution, effective after the U.S. market opens on July 1, according to a preliminary list of additions posted June 7. "Inclusion in the Russell 3000 Index is a reflection of the strong customer growth, execution and financial performance that has characterized Pareteum during the past year," said Hal Turner, Pareteum's Chairman and Chief Executive Officer. "This uplift from last year's inclusion in the Russell Microcap Index to the Russell 3000 will further expand awareness of Pareteum among institutional investors and for all of our stakeholders. We intend to continue to deliver strong growth and are focused on capitalizing on the very large global opportunities before us which will result in building significant shareholder value over time." Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 10, ranking them by total market capitalization. Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell's US indexes. Russell indexes are part of FTSE Russell, a leading global index provider. For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website. About FTSE Russell FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $16.2 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create investment funds, ETFs, structured products and index-based derivatives. FTSE Russell indexes also provide clients with tools for asset allocation, investment strategy analysis and risk management. A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on index innovation and customer partnership applying the highest industry standards and embracing the IOSCO Principles. FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit www.ftserussell.com. About Pareteum: Forward Looking Statements: Media Inquiries Pareteum Investor Relations Contacts: Michael Bloom Allise Furlani Carrie Howes View original content to download multimedia:http://www.prnewswire.com/news-releases/pareteum-set-to-join-russell-3000-index-300864298.html SOURCE Pareteum Corporation |