Business
Proposed move to AIM
Proposed move to AIM.
About this update from Northamber Plc
[{"type":"text","content":"\n \nRNS Number : 6120I Northamber PLC 04 July 2013 \n\n4 July 2013\n \nNorthamber plc\nProposed Cancellation of Listing and Admission to AIM\n \nThe Board of Northamber plc (\"the Company\") is pleased to announce that it will today post a circular to shareholders convening a General Meeting (\"GM\") to be held at the Company's offices, Namber House, 25 Davis Road, Chessington, Surrey, KT9 1HS at 10 a.m. on Wednesday 31 July 2013 at which it will seek shareholder approval for the proposed cancellation of admission to 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 (\"Admission\").\n \nThe circular will be available shortly on the Company's website at www.northamber.com and will be submitted to the National Storage Mechanism where it will shortly be available at [www.morningstar.co.uk/uk/nsm].\n \nBackground to and reasons for Cancellation and Admission \n \nThe Board has been reviewing its strategy in recent months and the decision to move from the Official List to AIM is the next step in its broader plan to enhance returns to shareholders. \n \nThe Board believes that a move to AIM will provide a market and environment more suited to the Company's size and will simplify the ongoing administrative and regulatory requirements of the Company. The Board also believes that AIM will offer greater flexibility, particularly with regard to corporate transactions, and should therefore enable the Company to agree and execute certain transactions more quickly and cost effectively compared to the Official List. The Board believes this is likely to be a significant benefit to the Company going forward.\n \nConditional on the resolution being approved at the GM, the Company will apply to cancel the listing of the Company's ordinary shares (\"Ordinary Shares\") on the Official List and their admission to trading on the London Stock Exchange's main market for listed securities. It is anticipated that the last day of dealings of the Ordinary Shares on the Official List will be Friday 30 August 2013. Cancellation of the listing of the Ordinary Shares on the Official List will take effect at 8:00 a.m. on Monday 2 September 2013, being not less than 20 Business Days from the...