Last checked at 22 May 2008 07:00
22 May 2008
Mears Group PLC ("Mears" or the "Company")
Notification of proposed AIM cancellation
and
Admission to the Official List
Mears today announces that it intends to apply for admission of its ordinary share capital to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's market for listed securities.
The Directors believe that the listing on AIM has provided a means of access to the equity financing required to achieve strong, consistent growth in turnover and profit. However, the Directors now believe that the Company has reached a size where admission of its shares to listing on the Official List of the UK Listing Authority and to trading on the London Stock Exchange will benefit the Company by providing greater liquidity in its shares, a higher profile with investors and customer base, and increased access to capital.
Pursuant to Rule 41 of the AIM Rules, the Company hereby gives notice of the intended cancellation of trading of the Company's issued ordinary share capital on AIM.
It is expected that the Company's ordinary shares with a nominal value of 1p each will be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's market for listed securities and simultaneously cancelled on AIM effective at 8.00 a.m. on Monday 23 June 2008, subject to the receipt of the necessary approvals from the UK Listing Authority.
Enquiries:
Mears Group PLC
Bob Holt, Chief Executive tel: 07778 798 816
Andrew Smith, Finance Director tel: 07712 866 461
www.mearsgroup.co.uk
Threadneedle Communications
Trevor Bass/Alex White tel: 020 7936 9666
Nominated adviser to Mears Group PLC - Investec
Keith Anderson/Daniel Adams tel: 020 7597 5970
Hansard Group
John Bick tel: 07872 061 007