Proposed Transfer to AIM
January 26 2006 - 11:10AM
UK Regulatory
RNS Number:5181X
Eleco PLC
26 January 2006
Eleco plc
Proposed Transfer to AIM
The Board of Eleco plc ("Eleco" or "the Company") announces the proposed de-
listing from the Official List and transfer to AIM. A circular convening an
Extraordinary General Meeting ("EGM") seeking approval to the proposals is today
being posted to shareholders.
The Board considers that AIM is a more appropriate market for the Company's
Ordinary Shares and that a transfer to AIM should lead to lower ongoing costs
associated with being a public company and a simplification of administration
requirements. It will also enable the Company to execute significant
transactions more expeditiously should any acquisition or other development
opportunity arise in the future. However, the Board envisages no alteration in
the standards of reporting and governance to which the Group has hitherto
operated.
The anticipated key dates are as follows:
Extraordinary General Meeting Monday 20 February 2006
Final day of dealing on Official List Tuesday 21 March 2006
Admission to and first day of dealing on Wednesday 22 March 2006
AIM
The Board is also pleased to announce that, subject to shareholder approval of
the de-listing and transfer to AIM, Charles Stanley Securities will be appointed
as the Company's Nominated Adviser and Broker with effect from the admission to
AIM.
Copies of the circular, which are being posted to Eleco shareholders, have been
sent to the UK Listing Authority and will shortly be available for inspection at
the UK Listing Authority's Document Viewing Facility, situated at:
Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS
26 January 2006
Enquiries:
Eleco plc
John Ketteley Executive Chairman
David Dannhauser Finance Director
+44 (0)1920 443830
Charles Stanley Securities
Richard Thompson / Philip Davies
+44 (0)20 7953 2457
Binns & Co
Tarquin Edwards
+44 (0)20 7786 9600
This information is provided by RNS
The company news service from the London Stock Exchange
END
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