22 Dec 2017 11:48
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.
London Capital Group Plc
('London Capital Group' or the 'Company')
Proposed cancellation of trading in the Company's shares on AIM
London Capital Group announces that, following discussions with representatives of GLIO Holdings (the Company's largest shareholder), the Company has decided to seek shareholder approval to cancel trading in its ordinary shares on AIM.
This decision has taken into account, amongst other things, the costs of maintaining trading in the Company's ordinary shares on AIM and the limited liquidity in the Company's ordinary shares. Against this background, and the Company's recent admission to the NEX Growth Market ("NEX"), GLIO Holdings have concluded that NEX would be a more appropriate market for the Company's shares to be traded on.
A notice convening a general meeting of the Company's shareholders will be sent to shareholders in the coming weeks. At the general meeting a resolution will be proposed to approve the cancellation of trading in the Company's ordinary shares on AIM ("Cancellation"). Cancellation will be conditional on the consent of not less than 75% of votes cast by shareholders.
Shareholders should note that GLIO Holdings own 78.14% of the Company's issued share capital. GLIO have indicated to the Board of the Company that they intend to vote in favour of the cancellation of trading in the Company's shares on AIM.
Following Cancellation, the Company will cease to be bound by the AIM Rules for Companies.
Enquiries:
London Capital Group Holdings PLC: Charles-Henri Sabet | +44 (0)20 7456 7000
|
AIM Nominated Adviser and Broker | |
Allenby Capital Limited | |
John Depasquale and Nick Naylor | +44 (0)20 3328 5656 |