Formation Group is to seek shareholder approval to cancel its listing on AIM and apply for its ordinary shares to be admitted to trading on the ISDX Growth Market.
The group said the decision - which was made after talks with with representatives of its major shareholders - has taken account of, among other things, the relative costs of maintaining a quotation on AIM and the limited liquidity in the company's shares. In the light of this, the board has concluded that ISDX would be a more appropriate venue for the Company's shares to trade.
The company is making an application for Formation's shares to be admitted to trading on ISDX and it is expected that trading on the market should start on or about 16 December. The group will convene a shareholders' meeting to approve the cancellation of the AIM listing.
At 8:02am: (LON:FRM) Formation Group PLC share price was -0.75p at 2.25p