Information  X 
Enter a valid email address

Ultima Networks plc (UTN)

  Print      Mail a friend       Annual reports

Friday 06 May, 2005

Ultima Networks plc

Statement re Cancellation of listing on UKLA Fu...

                       ANNOUNCEMENT FOR IMMEDIATE RELEASE

                               Ultima Networks PLC

As disclosed in the Chairman's statement within the Company's preliminary
announcement of results for the year ended 31 December 2004, the Board believes
that given the Company's current size and its strategy for development and
growth, it is appropriate to move the Company's listing to the AIM Market of the
London Stock Exchange plc where the transaction costs for acquisitions and
disposals are significantly lower than on the Official List of the UK Listing
Authority. The Board believes that a move to AIM would be in the best interests
of shareholders and has today given notice in accordance with paragraph 1.22 of
the Listing Rules of the UK Listing Authority for the listing of its entire
issued share capital on the  Official List, comprising 204,394,191 ordinary
shares of 1p each ("Shares"), to be cancelled.

The Company has also submitted an application to the London Stock Exchange plc
for all of its Shares to be admitted to trading on AIM and for the listing of
its Shares on the Official List to be cancelled at the same time. It is
anticipated that this will occur on 7 June 2005.


Contacts:

Rob Piper, Finance Director, tel; 01279 821200

Alan MacKenzie, ARM Corporate Finance, tel; 020 7512 1019