James Halstead PLC
8 February 2002
James Halstead PLC (the 'Company')
Transfer to the Alternative Investment Market
8 February 2002
The Chairman of the Company is today writing to shareholders stating the
following:
As a small public company, your Directors are very much aware of the need to
operate in the most efficient and cost-effective manner for the benefit of
shareholders. Accordingly, we have been considering the possibility of
transferring trading in the Company's ordinary shares from the London Stock
Exchange's main market for listed securities to its Alternative Investment
Market ('AIM'), which is specifically designed for smaller companies.
The increasing profile of AIM, together with the flexibility afforded to AIM
companies have led us to decide to make the transfer as soon as possible. The
transfer to AIM will also result in the simplification of administration and
reporting requirements, with a consequential reduction in the costs associated
with being a public company and should help to keep down the costs associated
with making further capital transactions.
Application will be made shortly for all of the Company's issued share capital
to be admitted to trading on AIM and it is anticipated that dealings will
commence on 11 March 2002 and that the Company's Official Listing will be
cancelled on the same day.
The Company has also appointed Brown, Shipley & Co. Limited to act as its
Nominated Adviser and Broker.
Shareholders should be aware that companies listed on AIM are deemed to be
unlisted for the purpose of certain areas of taxation law which may be of
benefit to them. However, shareholders should consult their independent
financial advisers on this point. The Company will still be subject to the
regulatory and disciplinary controls of the London Stock Exchange.
For further information:
Gordon Oliver James Halstead PLC 0161 767 2500
Philip Johnson Brown, Shipley & Co. Limited 0161 214 6540
END
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