Business
Proposed Transfer to AIM
Proposed Transfer to AIM.
About this update from Eleco Plc
[{"type":"text","content":"\n Eleco PLC\n26 January 2006\n\n\n Eleco plc\n Proposed Transfer to AIM\n\nThe Board of Eleco plc ('Eleco' or 'the Company') announces the proposed de-\nlisting from the Official List and transfer to AIM. A circular convening an\nExtraordinary General Meeting ('EGM') seeking approval to the proposals is today\nbeing posted to shareholders.\n\nThe Board considers that AIM is a more appropriate market for the Company's\nOrdinary Shares and that a transfer to AIM should lead to lower ongoing costs\nassociated with being a public company and a simplification of administration\nrequirements. It will also enable the Company to execute significant\ntransactions more expeditiously should any acquisition or other development\nopportunity arise in the future. However, the Board envisages no alteration in\nthe standards of reporting and governance to which the Group has hitherto\noperated.\n\nThe anticipated key dates are as follows:\n\n\nExtraordinary General Meeting Monday 20 February 2006\n\nFinal day of dealing on Official List Tuesday 21 March 2006\n\nAdmission to and first day of dealing on Wednesday 22 March 2006\nAIM\n\n\nThe Board is also pleased to announce that, subject to shareholder approval of\nthe de-listing and transfer to AIM, Charles Stanley Securities will be appointed\nas the Company's Nominated Adviser and Broker with effect from the admission to\nAIM.\n\nCopies of the circular, which are being posted to Eleco shareholders, have been\nsent to the UK Listing Authority and will shortly be available for inspection at\nthe UK Listing Authority's Document Viewing Facility, situated at:\n\nFinancial Services Authority\n25 The North Colonnade\nCanary Wharf\nLondon E14 5HS\n\n26 January 2006\n\n\nEnquiries:\n\nEleco plc\nJohn Ketteley Executive Chairman\nDavid Dannhauser Finance Director\n+44 (0)1920 443830\n\nCharles Stanley Securities\nRichard Thompson / Philip Davies\n+44 (0)20 7953 2457\n\nBinns & Co\nTarquin Edwards\n+44 (0)20 7786 9600\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":2317,"tagName":"div"}]