NewRiver Retail moving to main market on Thursday

(ShareCast News) - NewRiver Retail announced on Wednesday that the Royal Court of Guernsey has made an order sanctioning the scheme to change its corporate structure.The AIM-traded firm had proposed to change the NewRiver group's corporate structure by inserting a new English-incorporated parent company at the head of the group called NewRiver REIT.It anticipated that the scheme will become effective at 0800 BST on Thursday.At that time it is expected that 238,588,536 ordinary shares in NewRiver Holdco issued in connection with the scheme will be admitted to the premium segment of the Official List of the UK Listing Authority, and to trading on London Stock Exchange's Main Market for listed securities.Trading in the ordinary shares in the capital of NewRiver on AIM, a market of London Stock Exchange, will be cancelled at the same time.