30 September – proposed delisting/results
The group has announced interim results today which have revealed declines in both revenues and profits. However, these are largely irrelevant compared with the news that the company proposes to de-list its shares from AIM. The reason given, that the company does not benefit from the listing, seems to give scant regard to the interests of shareholders who actually own the company! Shareholders should vote against the proposal although as the directors own 43% this is unlikely to have much effect. Although a matched bargain facility is to be set up with broker Brewin Dolphin this is not anything like having a proper quote – the shares are a SELL.