Business
Update on Cancellation of Listing
Update on Cancellation of Listing.
About this update from Advancedadvt Ltd.
[{"type":"text","content":"\n\n5 December 2023\n \nAdvancedAdvT Limited\n \nProposed cancellation of the Company's Ordinary Shares from the Official List and proposed admission to trading on AIM\n \nAdvancedAdvT Limited (LSE: ADVT, the \"Company\") intends to request the Financial Conduct Authority (\"FCA\") to cancel the standard listing of the ordinary shares of the Company (the \"Shares\") on the Official List and to request the London Stock Exchange to cancel the admission to trading of the Shares on the main market (the \"Cancellation\").\n \nThe Company will apply for the admission of the Shares to trading on the AIM market (\"AIM\") of the London Stock Exchange (\"Admission\"), such that Cancellation and Admission will take place simultaneously.\n \nVin Murria, AdvancedAdvT's Executive Chairperson, said\n \n\"We are switching our listing to AIM and expect to have our shares trading again on 10 January 2024. AIM provides a more suitable regulatory environment for a business of our size and structure as well as offering flexibility with regard to corporate transactions, and will provide access to a broader pool of institutional and other investors.\n \n\"The management's experience, expertise and proven track record, together with £95m of cash and assets plus supportive shareholders, position us extremely well to execute on our growth strategy in a rapidly growing and evolving AI and digitally led landscape.\n \n\"We recently acquired four businesses with notably strong recurring revenues and have created an initial platform on which we can rapidly scale, innovate and build both organically and inorganically.\n \n\"Our two platforms, business/data and compliance solutions and human capital management platforms, provide us with a strong and solid foundation to capitalise on the anticipated rapid market growth and increasing AI, digital transformation, data analytics and business intelligence requirements across these sectors, whilst also expanding our presence in adjacent markets, geographies and digital sectors.\n \n\"Forecasts indicate that the business solutions, human capital management and digital transformation markets are anticipated to experience double-digit growth rates extending through 2030.\"\n \nCore specialisms\n \nOn 31 July 2023, the Company completed the acquisition of...