CSFG.L Share News (CSFG)

(ShareCast News) - CSF Group said on Monday that it is seeking shareholder approval to cancel the trading of its shares on AIM amid 'negligible' trading volumes. Over the period from 1 January to 23 September 2016, the total trading volumes in the shares represented less than 5.1% of the issued ordinary share capital."The board does not believe that there are currently any likely circumstances that would reverse this trend, and believes that the level of liquidity in the market for the ordinary shares is effectively meaningless."CSF said that despite efforts to attract investors, there has been relatively low demand, especially from institutional investors.The group said the commercial disadvantages and costs of maintaining the admission to trading on AIM of the ordinary shares at this time in the company's development outweigh the potential benefits."It is therefore no longer in the company's or its shareholders' best interests to maintain the admission to trading on AIM of the ordinary shares. "Particular consideration has been given by the directors to the very low liquidity in the ordinary shares, the lack of financing opportunities available to the company, and the relative expense of the company's quotation on AIM."At 1000 BST, the shares were down 77% to 0.20p.