LONDON (Alliance News) - Sopheon PLC said Wednesday its listing on the Alternext Amsterdam market will be terminated on May 7, as that market is being closed, and instead will consolidate its listing on AIM in London.
Sopheon moved to the Alternext from Euronext over a year ago. However, Euronext, which along with the New York Stock Exchange is owned by IntercontinentalExchange Group Inc, has opted to shut the Alternext Amsterdam stock exchange following a strategic review.
The Guildford, Surrey-based software company said it had considered other listing scenarios including returning to Euronext Amsterdam's main market, but partly due to the cost and regulation associated with such a listing and partly due to its lack of prior history with other European financial centres, it has opted instead to stick with its AIM listing.
"It is with great regret that after so many years on the Dutch markets we are terminating our listing in Amsterdam. However, a clear decision has been taken by Euronext to close the Alternext Amsterdam segment and after due consideration, we have decided to consolidate the listing on AIM. AIM is a very well established market which is accessible worldwide, and we believe this step is in the best interests of Sopheon's investors as a whole," said Chairman Barry Mence in a statement.
Shares in Sopheon are untraded in London Wednesday. It last closed at 49.53 pence.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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