(Alliance News) - John Lewis of Hungerford PLC on Friday said its shareholders have voted for the company to be listed as a limited company.
In May, John Lewis of Hungerford proposed the cancellation of its shares trading on London's AIM market and its re-registration as a private company.
The Wantage, England-based manufacturer and retailer of kitchens, bedrooms and free-standing furniture said the management time required and the legal and regulatory costs associated with its listing are not in the best interest of the company or its shareholders.
On Friday, the company said that 104.5 million people, or 99.6% of shareholders, voted for the cancellation of the company's shares.
In line with this, it will re-register as a private limited company with the name "John Lewis of Hungerford Ltd." This is expected to take place on or around July 21.
The last day of dealings in John Lewis of Hungerford's shares will be June 28.
Shares in the company were up 15% to 1.44 pence each in London on Friday around midday.
By Sophie Rose, Alliance News reporter
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