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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Icb Fin | LSE:ICB | London | Ordinary Share | CH0030730391 | ORD CHF1 (CDI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 13.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMICB ICB Financial Group Holdings AG Proposed Delisting The Board of Directors of ICB Financial Group Holdings AG ("ICB" or "the Company") wish to announce that the Company intends to seek shareholder approval to cancel the admission of ICB shares to trading on the AIM market operated by the London Stock Exchange ("Delisting"). The Board wishes to state that having regard to current developments and circumstances, the Directors believe it is no longer in the best interests of the Company or its shareholder to maintain an AIM listing. In reaching this conclusion, the Board considered the following factors:- * that the AIM listing no longer serves a useful function for the Company in terms of providing access to capital or enabling the shares to be used to effect acquisitions, although the Directors acknowledge the benefit to shareholders of having a public market in the shares; * the lack of liquidity in trading of the shares (there have been no trades in the Company during the current calendar year); * small free float; * market capitalisation of the Company is lower than when introduced to the market; * limited market appreciation of the Company's broad geographical presence; * the significant professional fees associated with the AIM listing (such as legal, accounting, London Stock Exchange and nominated adviser costs); and * the amount of senior management time spent in ensuring compliance with the AIM Rules and related regulatory requirements, including reporting, disclosure and corporate governance requirements. The Board believes that following the Delisting, the Company would benefit from substantial cost savings. It is planned that the Delisting will take effect on 6 November 2012 assuming shareholders approve the resolution on the Delisting at the Extraordinary General Meeting ("EGM") to be held on 29 October 2012. A notice of meeting for this EGM will be issued in due course. Immediately following the Delisting, there will be no market facility for dealing in the shares and no price will be publicly quoted. As a result, the Board recognises that the Delisting will make it more difficult for shareholders to buy and sell shares should they want to do so. In view of this, and in order to assist shareholders, the Board intends to facilitate a dealing arrangement for six months following the Delisting to enable shareholder to trade in the shares. Once the facility has been arranged, details will be sent to all shareholders and will also be made available to shareholders via the Company's website:www.icbankingroup.com This announcement is dated 28 September 2012 The Company's AIM nominated adviser is RFC Ambrian Limited. Contact Stephen Allen or Trinity McIntyre on +61894802500. END
1 Year Icb Fin Chart |
1 Month Icb Fin Chart |
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