Latham(James) PLC
30 November 2004
The Directors have taken the decision to transfer the Ordinary Shares and the
Cumulative Preference Shares in James Latham plc from their quotation on the
Official List of the UK Listing Authority to AIM. We are currently in the
process of seeking admission to AIM.
The Directors believe that AIM provides advantages to a company such as James
Latham plc and its shareholders.
It is expected that dealings will cease on the Official List at the close of
business on 30 December 2004 and will commence on AIM with effect from 31
December 2004.
The Directors also consider that the denomination of the Ordinary Shares as £1
shares means that the Company has a relatively small number of high value shares
in issue. In order to seek to bring greater liquidity to trading in the
Company's Ordinary Shares, the Directors believe that the each of the current
ordinary shares of £1 each should be subdivided into four ordinary shares of 25p
each, thereby increasing the number of shares held by each shareholder by a
factor of four and reducing the price per share to approximately one quarter of
its current level. The Company will shortly convene an extraordinary general
meeting early in January 2005 at which the Company will seek shareholders'
authority to subdivide the Ordinary Shares.
This information is provided by RNS
The company news service from the London Stock Exchange