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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Vsa Capital Grp | LSE:VSA | London | Ordinary Share | GB00B646RP91 | ORD 0.2P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.875 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMVSA
RNS Number : 7646B
VSA Capital Group PLC
08 April 2013
8 April 2013
VSA Capital Group plc
("VSA" or "THE COMPANY")
Further re: Proposed cancellation of admission to trading on AIM of the Ordinary Shares
VSA Capital Group plc (AIM: VSA), the international investment banking and institutional broking group, notes press reports and other shareholder communications regarding the proposed cancellation of the admission of its ordinary shares ("Ordinary Shares") to trading on AIM ("Cancellation") and, accordingly, the Board would like to make the following clarification.
The proposed Cancellation relates only to the admission of the Company's Ordinary Shares to trading on AIM; the Company will remain a public company and intends to maintain the same level of corporate governance and financial reporting, through the publication of annual and interim results. In addition, the Company intends to implement a trading system administered by Capita Registrars based on matching bargains, where buyers' and sellers' price expectations match. The Board believes this will have the advantage over its existing trading mechanism on AIM that it will be order driven rather than quote driven by market makers.
Ordinary Shares will continue to be eligible to be held in certain self-invested personal pensions ("SIPP"), although some SIPP providers may have varying rules and shareholders should check with their own SIPP provider. Andrew Monk, CEO, intends to keep 4,090,000 Ordinary Shares of his aggregate holding of 7,400,000 Ordinary Shares held in his SIPP.
The Board has considered the position carefully and reached the conclusion that the proposed Cancellation is in the best interests of the Company and its shareholders combined with the Board's programme to reduce other costs and to conserve cash, pending the completion of transactions. The Board also believes the Cancellation will allow the Company to seek to raise further capital from sources which have a preference for investing in unlisted companies.
ENQUIRIES:
VSA Capital Group Plc
Andrew Monk, Chief Executive
Tel: 020-3005 5000
Nominated Adviser
Shore Capital
Bidhi Bhoma or Toby Gibbs
Tel: 020-7468 7950
Joint Broker
Peterhouse Corporate Finance
Jon Levinson Tel: 020-7562 3357
Public Relations
Blythe Weigh Communications
Tim Blythe
Tel: 020-7138 3204
This information is provided by RNS
The company news service from the London Stock Exchange
END
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