Business
Proposed Delisting, Admission to AIM, Notice of GM
Proposed Delisting, Admission to AIM, Notice of GM.
About this update from Potter & Moore Plc
[{"type":"text","content":"\n\nCreightons plc\n(\"Creightons\" or the \"Company\")\nProposed cancellation of Ordinary Shares from the Official List, proposed application for admission to trading on AIM and Notice of General Meeting\nIntention to move to AIM\nCreightons (LSE: CRL), the British based beauty and well-being brand owner and manufacturer, announces the Company's intention to apply for the admission of its issued Ordinary Shares to trading on AIM (\"AIM Admission\") under AIM's streamlined admission process for companies that have had their securities traded on the Official List, known as the 'AIM Designated Market' route, and the Company's intention to apply to cancel the admission of the Ordinary Shares to listing on the Equity Shares (Commercial Companies) category of the Official List and to trading on the London Stock Exchange's main market for listed securities (\"Delisting\"), such Delisting and AIM Admission to take effect simultaneously.\nThe Company was quoted on the Unlisted Securities Market in 1986 and subsequently transferred to the Main Market of the London Stock Exchange in 1994. The directors of the Company (the \"Directors\") have carefully considered whether the continued admission of its Ordinary Shares to listing on the Equity Shares (Commercial Companies) category of the Official List and to trading of its Ordinary Shares on the Main Market is in the best interests of Shareholders. The Directors have concluded that AIM is a more appropriate market for Creightons for the reasons set out under the heading \"Background to and reasons for the Delisting and AIM Admission\" in Appendix II to this announcement.\nShareholder circular, Listing Rule requirements and General Meeting\nA circular to Shareholders (the \"Circular\") is expected to be posted later today containing details of the proposed Delisting and AIM Admission. In addition, the Circular will be available on the Company's website at https://creightonsplc.com/investors/reports-and-accounts as well as submitted to the National Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.\nUnder the UK Listing Rules, the Delisting requires the prior approval of a resolution by shareholders in a General Meeting, passed by not less than 75 per cent. of those shareholders who vote in person or by proxy. If approved by shareholders, it is anticipated that the...