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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Cantono | CTNO | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.50 | 0.50 |
| Top Posts |
|---|
Posted at 09/3/2009 13:15 by andrbea some press from last monthThere were 1,530 companies listed on the exchange at the end of January, which is the lowest level since May 2006, according to figures from the London Stock Exchange. At the same time last year, there were 1,693 companies listed. Last week, IT service provider Cantono PLC revealed plans to convene a general meeting on Feb. 25 to seek shareholder approval to delist from AIM. It said in a statement that "in the acute stock market turmoil the company's current market capitalization has become completely disassociated from the inherent value of the company." Cantono estimates the listing on AIM directly costs the group £200,000 ($285,000) a year and also requires that a disproportionate amount of senior management time is spent on regulatory requirements such as reporting, disclosure and corporate governance. It added that the listings "may no longer serve a useful function in terms of access to capital or the ability to use the shares of the company to effect acquisitions." The company's shares will delist on March 11, assuming it gains shareholder approval. A spokesman for the London Stock Exchange said that although many companies are struggling to raise finance during the downturn, equity risk-capital is often more appropriate for these businesses -- which offer investors both high returns and high risks -- than bank debt. He said that one of the advantages of AIM over other markets is the ease and cost effectiveness of further fund raising once a company has come to market. |
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