Proposed move to AIM
28 August 2003 - 6:14PM
UK Regulatory
RNS Number:1426P
LTG Technologies PLC
28 August 2003
LTG Technologies plc
("Company")
Proposed move to AIM
As part of the Company's continuing review of its operations and infrastructure,
the Company announces today that it intends to transfer trading in the Company's
ordinary shares from the Official List of the United Kingdom Listing Authority
(the "Official List") to the Alternative Investment Market of the London Stock
Exchange ("AIM").
The transfer to AIM will simplify the ongoing administration and reporting
requirements of the Company with a consequential reduction in the costs
associated with having its shares listed on the Official List.
The Board believes that AIM, with its lower cost of complying with continuing
obligations, is a more appropriate market for the Company given its size and
shareholder base. The move to AIM will not impact upon the conduct of the
business nor its corporate governance.
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 will in no way affect their ability to hold shares
in the Company and existing share certificates will remain valid.
It is anticipated that the entire issued share capital of the Company will be
simultaneously cancelled from the Official List and admitted to trading on AIM
on 26 September 2003.
As an AIM company, the Company will continue to be subject to the regulatory and
disciplinary controls of the London Stock Exchange. Shareholders should note
that shares held in companies trading on AIM are treated as unquoted for the
purposes of certain tax relief's, although shareholders should seek their own
financial advice on this point.
The Company has agreed with Seymour Pierce Limited that Seymour Pierce will
become the Company's Nominated Adviser and Broker on the Company's admission to
AIM.
This information is provided by RNS
The company news service from the London Stock Exchange
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