Last checked at 7 Jun 2012 07:00
For immediate release
7 June 2012
PLUS Markets Group plc (the "Group" or the "Company")
Update re PLUS Stock Exchange plc
Defined terms in this announcement have the same meaning as in the Circular posted to Shareholders on 31 May 2012 in relation to the Proposed Disposal of PLUS Stock Exchange plc ("PLUS-SX").
At the time of the Company's announcement on 14 May 2012 that it was commencing a process of orderly closure, the Board agreed with the Financial Services Authority ("FSA") to submit a letter to them requesting the revocation of the Recognition Order which confers the status of a Recognised Investment Exchange on PLUS-SX. The final form of the letter was agreed and signed on 1 June 2012. For the avoidance of doubt, in the event that the Proposed Disposal of PLUS-SX does not complete before 22 June 2012, for whatever reason, the FSA will commence the process as soon as possible to revoke the Recognition Order and this process is irreversible.
The Board currently anticipates that any such revocation of the Recognition Order would take effect from 31 October 2012 which is the intended date of closure of the PLUS-SX markets even though activities may cease before that date. This is pursuant to the announcement on 14 May that the Board had informed the FSA of its commencement of a process of orderly closure in accordance with the regulatory obligations of PLUS-SX.
Further announcements in relation to the above will be made as required
For further information, please contact:
PLUS Markets Group plc +44 20 7429 7800
Malcolm Basing
Cyril Théret
N+1 Brewin (Nominated Adviser and Broker) +44 20 3201 3710
Robert Beenstock
Wyvern Partners Limited +44 20 7355 9857
Anthony Gahan
Merlin +44 20 7726 8400
Paul Downes / Toby Bates / Del Jones