Business
Proposed Move to AIM
Proposed Move to AIM.
About this update from Ms International Plc
[{"type":"text","content":"\n \nRNS Number : 3199P MS International PLC 01 October 2013 \n \n\nMS INTERNATIONAL plc\n(the \"Company\")\n \nProposed Move to AIM\n \nThe Company is pleased to announce that it will today post a circular to Shareholders (the \"Circular\") convening a General Meeting at which the Company will seek Shareholder approval for the proposed cancellation of the admission of its ordinary shares to the premium segment of the Official List and to trading on the London Stock Exchange's main market for listed securities (\"Cancellation\") and detail its intention to apply for admission to trading on AIM (\"AIM Admission\"). Shore Capital is acting as financial adviser to the Company in connection with the Cancellation and will act as nominated adviser and broker on AIM Admission becoming effective.\n \nThe Circular will be available later today on the Company's website at www.msiplc.com and will be submitted to the National Storage Mechanism where it will shortly be available at www.morningstar.co.uk/uk/nsm. \n \nCommenting on the Move to AIM, Michael Bell, Executive Chairman of MS INTERNATIONAL plc, said: \n\"As Chairman and a major shareholder of the Company, I firmly believe that the proposal to move to AIM is the right thing to do for the Company and all its shareholders and recommend that you support the proposal.\"\nReasons for the Move to AIM\nThe Board has carefully considered the proposed AIM Admission and believes that it is in the best interests of the Company and its Shareholders as a whole for the following reasons:\n\n· AIM provides a more suitable market and environment that should simplify the administrative and regulatory requirements of the Company;\n· AIM will offer greater flexibility with regard to corporate transactions, and should enable the Company to agree and execute certain transactions more quickly and cost effectively than a company on the Official List;\n· The Company should continue to appeal to institutional investors following the AIM Admission and in light of the possible tax benefits mentioned below, the Directors hope that being admitted to AIM will make the Company's shares more attractive to retail investors;\n· Companies whose shares trade on AIM are deemed to be unlisted fo...