LONDON (Alliance News) - CIC Capital Ltd on Monday said it would transfer its domicile from Canada to the Republic of Seychelles as part of a restructuring linked to its preparations for a main market listing.
The AIM-listed investment and advisory firm said the change better suits its current business activities and will be in the long-term interests of shareholders.
Under the restructuring proposal, all business and assets held by CIC Canada will be transferred to CIC Seychelles. In addition, the new listing will be under the name CIC Seychelles Ltd.
CIC Capital shares were untraded Monday, quoted at 3.375 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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