HYD.L Regulatory News (HYD)

11 Mar 2005 07:30

Hydro International PLC11 March 2005 For release on 11 March 2005 HYDRO INTERNATIONAL PLC Transfer to the Alternative Investment Market ("AIM") It was announced on 7 March 2005, along with the release of the preliminaryresults of Hydro International PLC ("Company") for the year ended 31 December2004, that the Board felt it was appropriate to transfer the Company's listingfrom the Official List to AIM, which they believed would be more suitable forthe Company. The Directors consider that a transfer to AIM is in the interestsof the Company and Shareholders as a whole. As a result, the listing of theOrdinary Shares of the Company on the Official List will be cancelled and theCompany has made application for its entire issued share capital to be admittedto trading on AIM. There are potentially significant tax advantages available to non-corporateshareholders in holding AIM listed shares. AIM listed shares are currentlytreated as unquoted shares for most provisions of the Taxes Acts. Shareholdersare advised to consult their own tax advisers concerning these matters. The Board is aware that there are circumstances which can prohibit Shareholdersfrom investing in shares quoted on AIM. The shares of a company quoted on AIMcannot be held in Personal Equity Plans or Individual Savings Accounts.Shareholders are advised to review their position in this respect as soon aspossible. The AIM Rules require that the Company appoint a nominated adviser and brokerbefore its Ordinary Shares are admitted to trading on AIM. KBC Peel Hunt hasbeen appointed to act as nominated adviser and broker to the Company. Application has been made for the existing Ordinary Shares to be admitted totrading on AIM and for the cancellation of the listing of the Company's existingOrdinary Shares on the Official List. It is expected that the listing of theexisting Ordinary Shares on the Official List will be cancelled from 8.00am on12 April 2005 and that the entire issued share capital of the Company will beadmitted to trading on AIM and dealings will commence at 8.00am on the samedate. Existing share certificates in issue in respect of existing OrdinaryShares will remain valid following Admission. Further information required to be available in respect of the Company'sproposed admission to trading on AIM can be sourced at http://www.hydrointernational.biz/corp_info.html. The Company's report and accounts for the year ended 31 December 2004 has beenpublished today and submitted to the UKLA for publication at the DocumentViewing Facility. Enquiries:Keith Marshall Hydro International plc 01275 878371Julian Blunt KBC Peel Hunt Ltd 020 7418 8900 This information is provided by RNS The company news service from the London Stock Exchange