Chamberlin Plc Regulatory News (CMH)

20 Sep 2006 14:35

Chamberlin & Hill PLC20 September 2006 CHAMBERLIN & HILL PLC 20 September 2006 Chamberlin & Hill plc (the "Company") ANNOUNCEMENT OF PROPOSED MOVE TO AIM Following the placing with institutional investors of the Bather family'sordinary shares in the Company which was announced in December 2005 and thesubsequent changes in board composition, the Company is now entering a newstrategic era. The directors therefore now believe that AIM is a more appropriate market forthe Company than the Official List of the UK Listing Authority (the "OfficialList") for the following reasons: • the Company is currently one of the smallest companies listed on the Official List; • the directors believe that the Company could attract more interest from investors on AIM since this market is designed for smaller companies, has specialist institutional investors, and allows private investors to take advantage of attractive tax benefits; • the Company's strategy may involve acquisitions and AIM's less restrictive regime will allow the Company to execute transactions both more quickly and more economically; and • the transfer to AIM is expected to reduce the ongoing costs of being a public company. The directors, however, do not envisage that there will be any alteration to the standards of reporting and corporate governance which the Company has maintained to date on the Official List. Accordingly the Company announces that a circular will be posted to shareholderstoday recommending the de-listing of the Company's ordinary shares from theOfficial List and the cancellation of trading on the London Stock Exchange'smarket for listed securities (together the "De-Listing"). Subject to approvalof the De-Listing by shareholders at an EGM to be held on 23 October 2006 it isproposed that an application will be made for the ordinary shares to be admittedto trading on AIM. It is expected that the last day of dealings on the mainmarket will be 22 November 2006 and that trading on AIM will commence at 8.00a.m. on 23 November 2006. Tom Brown, Chairman, said: "The board is of the opinion that the proposals arein the best interests of the Company and the shareholders as a whole; we areconfident that it will allow us to capitalise on future opportunities morerapidly and economically." Documents on Display Copies of the circular have been sent to the UK Listing Authority and willshortly be available to the public for inspection at the UK Listing Authority'sDocument Viewing Facility, situated at: Financial Services Authority25 The North ColonnadeCanary WharfLondon E14 5HS Contacts: Chamberlin & Hill plcTom Brown, Chairman 01922 721 411Tim Hair, CEOSimon Duckworth, FD Teather & Greenwood LimitedAdam Pollock (Sales) 020 7426 9000Mark Dickenson (Corporate Finance) This information is provided by RNS The company news service from the London Stock Exchange