Formation Group PLC Transfer of listing from AIM to ISDX (6211Q)
December 01 2016 - 1:00AM
UK Regulatory
TIDMFRM
RNS Number : 6211Q
Formation Group PLC
01 December 2016
Formation Group Plc
('Formation' or 'the Company')
Application for admission to trading on ISDX and cancellation
from AIM
The Board of Formation announces that, following extensive
discussions amongst its board, including with representatives of
its major shareholders, it has concluded that it is in the
Company's interests to cancel its listing on AIM and apply for the
ordinary shares of the Company to be admitted to trading on the
ISDX Growth Market ("ISDX").
The Board decision has taken account of, amongst other things,
the relative costs of maintaining a quotation on AIM and the
limited liquidity in the Company's shares. In the light of this,
the Board has concluded that ISDX would be a more appropriate venue
for the Company's shares to trade.
The Company is making an application for Formation's shares to
be admitted to trading on ISDX and it is expected that trading on
the market should start on or about 16 December 2016.
A notice of meeting will be sent to shareholders shortly,
convening a general meeting at which a resolution will be
considered to approve the cancellation of the Company's AIM
listing. The cancellation will be conditional on the consent of not
less than 75% of votes cast by shareholders.
1 December 2016
Enquiries:
Formation Group plc Tel: +44 (0) 20 7920 7590
David Kennedy, Chief Executive Officer
Northland Capital Partners Ltd (Nomad) Tel: +44 (0)20 3861
6625
Tom Price / Gerry Beaney
Peterhouse Corporate Finance Limited (Broker) Tel: +44 (0) 20 7469 0930
Duncan Vasey / Fungai Ndoro
This information is provided by RNS
The company news service from the London Stock Exchange
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