Business
Notice of GM - Proposed move to AIM
Notice of GM - Proposed move to AIM.
About this update from Pebble Beach Systems Group Plc
[{"type":"text","content":"\n \nRNS Number : 2377U Vislink PLC 29 November 2013 \n \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO THE SAME WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION\n \nVislink plc\n(\"Vislink\" or the \"Company\")\n \nNotice of General Meeting\nProposed cancellation of listing on the Official List and application for Admission to AIM \n \nThe Board of Vislink is pleased to announce that it will post a circular to shareholders today convening a General Meeting (\"GM\") to be held at the offices of N+1 Singer, One Bartholomew Lane, London EC2N 2AX at 3.00 p.m. on 17 December 2013 at which it will seek shareholder approval for the proposed cancellation of admission to the premium segment of the Official List and to trading on the London Stock Exchange's main market for listed securities and detail its intention to apply for Admission to trading on AIM.\n \nThe circular will be available shortly on the Company's website at www.vislink.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 the Delisting and Admission\n \nThe Group's strategy, originally announced in November 2011, is to continue to develop our core competence to provide solutions for the broadcast and surveillance markets, and as part of this to grow sales to £80 million, with £8.0 million adjusted operating profit, by the end of the 2014 financial year. The Group intends to support this growth by a number of strategic acquisitions, including the acquisition of Amplifier Technology Limited announced on 29 August 2013, and continues to actively seek such acquisitions to strengthen the Group's hardware, software and services capabilities. The Board has carefully considered the proposed move to AIM, and believes that such a move will provide a market and environment more suited to the Company's current size and strategic intent to enhance shareholder value by organic growth and acquisitive activity in the broadcast and surveillance markets. It will also simplify the on-going administrative and regulatory requirements of the Company. The Delisting and Admission will offer greater flexibility to the Company, particularly with re...