BTL Bristol&Ldn

RNS Number:3951E
Bristol & London PLC
24 September 2007



          Bristol & London plc ("Bristol and London" or the Company")

                       Intention to cancel AIM quotation



The difficult trading conditions mentioned in the last annual report have
continued into the first half of the current year.  In the annual statement it
mentioned the fact that Bristol & London had incurred substantial costs in
increasing the number of exotic vehicles in our fleet such as Aston Martin,
Rolls Royce, Bentley, Ferrari and Lamborghini in anticipation of a significant
level of new business with a major UK motor insurance company.  Despite initial
revenues being below expectations, the board was confident that this arrangement
would eventually generate significant income.  However a formal contract did not
materialise and it became apparent that this business was not going to grow as
anticipated.



In order to reduce costs, the decision was made to dispose of a number of these
vehicles, which had been considerably under-utilised, resulting in continuing
losses.  This decision was vindicated when in July, we were informed that the
arrangement to supply exotic vehicles would be terminated with effect from April
2008.



In view of the position that the Company now finds itself in, the Directors are
of the opinion, following consultation with our advisers that it would be in the
Company's best interest for it to cancel the AIM quotation and to offer existing
shareholders the opportunity to sell their shares back to the Company.



The share buy back will be subject to shareholder approval and is expected to be
conducted at a price per share which is the average mid-market price per share
for the three months prior to the date of the circular.  The circular outlining
the detailed proposals is currently being prepared and will be posted to
shareholders shortly.



The background to the proposal is the substantial reduction in the price at
which the Company's shares have been trading on AIM, which has occurred since
the announcement in August 2006 that the company's profits for the year ended
January 2007 would not reach market expectations.  Since that announcement,
there have been further announcements concerning difficulties which the Company
has encountered, including the failure to enter into arrangements with the major
UK insurance company outlined above.  The Board has formed the view that the
market has lost confidence in the Company and that, accordingly, any recovery
which may occur in the Company's financial performance is unlikely to be
properly reflected in the price at which the Company's shares trade on AIM.



The market in the Company's shares is illiquid and the Company's share price has
fallen to an all time low of 8.5p.  Additionally, The Board has reached the
conclusion that the advantages which attach to the facility to trade the
Company's shares on AIM do not outweigh the costs and other disadvantages.



The Board are confident that the prospects for the Company remain strong and
believe that the business will have greater opportunity in the longer term to
develop and expand away from a publicly quoted environment.


For further information, please contact:
Bristol & London plc
Bob Woods, Chairman
Tel: + 44 (0)1275 841111

Hanson Westhouse Limited
Tim Metcalfe/ Richard Baty
Tel: 020 7601 6100




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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