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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Intl.Marketing | LSE:IMSG | London | Ordinary Share | JE00B1YBMP41 | ORD EUR0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date: 30 December 2008 On behalf of: International Marketing & Sales Group Limited ("IMSG" or "the Company") International Marketing & Sales Group Limited * Notice of EGM to Seek Approval for Proposed Delisting International Marketing & Sales Group Limited (AIM / AktieTorget: IMSG), ("the Company") the emerging markets focused sales and marketing company, announced on 29 December that it will be holding an extraordinary general meeting ("EGM") on 15 January 2009, commencing at 11.00am at 47 Esplanade, St Helier Jersey JE1 0BD to seek approval from the shareholders of the Company (the "Shareholders") for the cancellation of the admission of the Company's ordinary fully paid shares to trading on the AIM market of the London Stock Exchange plc ("AIM") (the "Cancellation"). Having carefully considered the matter for some time, the board of directors of the Company (the "Board") concluded that it is no longer appropriate for the shares of the Company to continue to be admitted to trading on AIM or the Swedish AktieTorget market ("AktieTorget"). In December 2005, the Company listed on AIM in order to create a public market in the shares of the Company, raise the profile and status of the Company and provide access to capital for acquisitive and organic growth. The Directors believe the Company achieved satisfactory growth in turnover and PBT in 2006 and 2007 given the prevailing market condition at that time. However since the autumn of 2008, conditions in the Company's key markets have deteriorated considerably due to the turmoil in the global financial markets and related economic downturn. In contrast to the benefits of listing, which the Board does not expect will be available to the Company in the short to medium term, there are significant on-going costs associated with the regulatory requirements of maintaining quotations on AIM and AktieTorget, and the Board considers that a disproportionate amount of senior management time is spent on meeting AIM and AktieTorget listing requirements. The resolution to cancel admission to trading on AIM requires the approval of 75 per cent of those present and entitled to vote at the meeting or voting by proxy, in accordance with Rule 41 of the AIM Rules for Companies. If shareholders do not vote in favour of the resolution, the Company will continue its AIM and AktieTorget listings. The Notice of the EGM and accompanying circular (the "EGM Circular") have been posted to Shareholders. Under the AktieTorget Rules, trading may be suspended at the request of the Company and the admission to AktieTorget may be terminated upon 3 months' written notice. If Shareholders wish to sell their Shares on AIM, they must do so prior to the cancellation becoming effective, and such cancellation will occur no earlier than five days after the EGM. It is expected that trading in the Shares on AIM will cease at the close of business on 28 January, 2009 with Cancellation effected at 7.00am on 29 January, 2009 and not as previously stated in the EGM Circular. The Company shall remain registered as a Jersey public company. Following cancellation of admission of the Company's shares on AIM and AktieTorget, Shareholders will hold their Shares in certificated form and will be able to effect a transfer of Shares by submission of a duly executed transfer form to the Company. A matched-bargain private share dealing facility will be provided for Shareholders as soon as practicable after the AIM de-listing becomes effective. A copy of the EGM Notice and EGM Circular explaining the arrangements in more details will be available at the Company's website shortly at: http://www.imsg.co.uk For Further Information, please contact: Terry Livingstone International Marketing & Sales Group Limited Tel: + 44 20 7735 6788 www.imsg.co.uk Andrew Best / Emily Bruning Shared Value Limited Tel: +44 (0) 20 7321 5010 www.sharedvalue.net Mark Williams / Henry Fitzgerald-O'Connor Canaccord Adams Limited Tel: +44 (0)20 7050 6500 Notes to Editors * IMSG was founded in 1996 and the Group was admitted to trading on AIM on 6 December 2005. IMSG is also listed on AktieTorget in Sweden.* The Group's clients include multinational and first tier local companies operating in FMCG, telecommunications, retail trade, banking and finance, automotive, consumer electronics and pharmaceutical industries.* IMSG currently has over 40 offices predominantly in emerging markets: Moscow, Saint Petersburg, Yekaterinburg, Kazan, Nizhniy Novgorod, Novosibirsk, Rostov-on-Don, Samara, Krasnodar (Russia), Kiev (Ukraine), Almaty, Astana (Kazakhstan), Dushanbe (Tajikistan), Tashkent (Uzbekistan), Erevan (Armenia), Belgrade (Serbia) Istanbul (Turkey), New Delhi, Mumbai, Bangalore, Chennai, Kolkata, Hyderabad (India), Kuala Lumpur (Malaysia), Dubai (UAE), Doha (Qatar), Budapest (Hungary), Bucharest (Romania), Athens (Greece), Sofia (Bulgaria) London (UK), Stockholm, Malmo (Sweden) and Barcelona (Spain).* Further information about the Group is available on its website at: http://www.imsg.co.uk
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