Information  X 
Enter a valid email address

Havelock Europa PLC (HVE)

  Print      Mail a friend       Annual reports

Tuesday 08 June, 2010

Havelock Europa PLC

Cancellation of listing and a

RNS Number : 2087N
Havelock Europa PLC
08 June 2010
 



8 June 2010

 

Havelock Europa PLC

("Havelock" or the "Company")

 

Proposed Cancellation of listing on the Official List and admission to trading on AIM

 

 

The Company today announces its intention to seek the cancellation of the listing of its Ordinary Shares on the Official List and to apply for its Ordinary Shares to be admitted to trading on AIM.

The Board believes that AIM is a more appropriate market for a company of Havelock's size and resources and that a transfer of the Ordinary Shares to trading on AIM should lead to lower ongoing costs associated with being a publicly quoted company and a simplification of the Company's administrative and regulatory requirements. The Board also believes that AIM will offer greater flexibility, particularly with regard to corporate transactions, and should therefore enable the Company to agree and execute certain transactions more quickly, if acquisitions or other opportunities arise in the future. The Board envisages no material alteration in the standards of reporting and governance which the Company maintains.

 

The Company will today post a circular to its shareholders containing details of the Proposals. The circular explains the background to and reasons for the Proposals and contains a notice convening a General Meeting of shareholders to be held at the Company's offices at Mossway, Hillend Industrial Park, Dalgety Bay, KY11 9JS at 11.00 a.m. on 1 July 2010, at which approval for the Proposals will be sought.

 

The last day of dealings in the Company's Ordinary Shares on the main market of the London Stock Exchange is expected to be 29 July 2010. The anticipated date of cancellation of the listing of the Company's Ordinary Shares on the Official List is on or around 8.00 a.m. on 30 July 2010, being not less than 20 business days following the expected date of approval of the Proposals by the Company's shareholders as required by the Listing Rules. Admission of the Ordinary Shares to AIM and commencement of dealings in the Ordinary Shares on AIM is expected to occur simultaneously with such cancellation, on or around 8.00 a.m. on 30 July 2010.

 

Copies of the circular will be available for inspection at the UK Listing Authority's Document Viewing Facility, which is situated at:

 

The Financial Services Authority

25 The North Colonnade

Canary Wharf

London E14 5HS

 

Copies of the circular will shortly be made available on the Company's website www.havelockeuropa.com 

 

Capitalised terms used in this announcement have the same meanings as in the circular dated 8 June 2010 unless the context requires otherwise.

 

Enquiries:

 

Havelock Europa PLC                            

Grant Findlay

 

01383 823636

Bankside                                              

Simon Rothschild

Rose Oddy

020 7367 8871

 


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