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(Alliance News) - Building products firm Alumasc Group PLC began trading on London's AIM market on Tuesday, having switched from the Main Market
Alumasc had announced the change back in September of last year, and it was overwhelmingly approved by shareholders at its annual general meeting last month.
The company had noted that some of its shareholders would benefit from exemptions to inheritance tax and stamp duty reserve tax, available to holders of AIM-listed stocks and not those on the London Main Market.
Earlier this month, Alumasc said its underlying pretax profit from continuing operations for the financial year ending on Sunday will be some 10% to 15% below its previous expectations, due to a weak second-half performance at Levolux, its architectural screening, solar shading and balconies business.
Alumasc shares were down 0.4% on Tuesday morning at 95.10 pence. In the past 12 months, the stock is down 31%.