LONDON (Alliance News) - Motive Television PLC said Friday its shares will be suspended from trading on AIM on Monday following the resignation of its nominated adviser, Sanlam Securities UK Ltd.
Under AIM rules, a company must have a nominated adviser in order to be traded, and as such, if Motive Television fails to appoint a replacement nominated adviser within a month of Sanlam's resignation, admission of its shares to AIM will be cancelled.
Motive Television develops and distributes technology for the television broadcasting sector.
The company said it remains in "active discussions" with potential replacement nominated advisers, and whilst these discussions are progressing, it said there is no guarantee that a new nominated adviser will be appointed before trading in its shares are cancelled.
Shares in Motive were down 43% at 0.00170 pence Friday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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