Avingtrans PLC
19 February 2002
AVINGTRANS PLC
Statement re Intention to transfer to the Alternative Investment Market
19 February 2002
The board of Avingtrans PLC ('Avingtrans' or the 'Company') announces today that
it intends to apply to the UK Listing Authority for the transfer of the
Company's entire issued ordinary share capital from the Official List of the UK
Listing Authority (the 'Official List') to the Alternative Investment Market of
the London Stock Exchange ('AIM') and to cease trading on the London Stock
Exchange's main market for listed securities. It is expected that shares will
simultaneously de-list from the Official List and commence trading on AIM on 19
March 2002.
The AIM market is less regulated than the Official List and the Directors
believe that it is appropriate for the Company to move to AIM to take advantage
of this greater degree of flexibility in particular with regard to corporate
transactions.
There is no requirement for an AIM admission document to be published by the
Company, although the board is circulating this announcement to shareholders in
order to keep them properly informed with regard to the application to trade on
AIM. In particular, shareholders should be reassured that, so far as is known to
the directors, with the exception of shares held in a Personal Equity Plan or an
Individual Savings Account, the transfer to AIM should not affect their ability
to buy or sell shares in Avingtrans and existing share certificates will remain
valid.
Bridgewell Corporate Finance Limited, the Company's existing financial adviser,
has agreed to act as nominated adviser to the Company. Collins Stewart Limited
has agreed to act as broker to the Company.
For further information contact:
Greg Aldridge 020 7626 3322
Bridgewell Corporate Finance Limited
This information is provided by RNS
The company news service from the London Stock Exchange