PGI Pgi Grp

 

TIDMPGI 
 
RNS Number : 0882R 
PGI Group PLC 
23 April 2009 
 

23 April 2009 
 
 
PGI Group Plc 
 
 
Proposed cancellation of listing of the ordinary shares on the Official List 
 
 
The directors of PGI Group Plc (the "Company") announce their proposal to seek 
shareholders' approval for the cancellation of the listing of the Company's 
shares on the Official List and of their trading on the London Stock Exchange 
and for the re-registration of the Company as a private limited company on the 
delisting taking effect. 
The Company's ordinary shares have been traded on the London Stock Exchange 
since 1984. The Company's aim has been to generate shareholder value by 
developing the group's businesses and this continues to be the Company's aim 
today. However, due to a number of factors, including the relatively small total 
market capitalisation of the Company, the small free float, the limited trading 
volumes in the Company's shares and the costs of compliance with the Listing 
Rules, the directors have come to the view that it is no longer in the Company's 
best interests to maintain its Listing. 
 
 
It is the directors' intention to convene a General Meeting at which the 
necessary resolutions to effect the delisting and re-registration as a private 
company will be put to the members of the Company immediately after the 
Company's Annual General Meeting, which is due to be held on 23 June 2009. 
 
 
The directors of the Company have explored the possibility of the Company or the 
directors offering to acquire the shares of members who would not wish to 
continue to hold them after the cancellation of the listing but, as a result of 
a number of regulatory requirements, the cost of doing so would have been 
prohibitively high to the Company. Nonetheless, shareholders who wish to offer 
their shares for sale in the market prior to cancellation of the listing will 
continue to be able to do so. 
 
 
The directors will shortly post a circular to shareholders setting out further 
details of the above proposals and convening the required General Meeting. 
 
 
Current trading and prospects 
 
 
Reference is made to the announcement made today by the Company regarding the 
publication of its results for the year ended 31 December 2008. Full details of 
the current trading position and prospects of the Company are contained in that 
announcement. 
 
 
23 April 2009 
 
 
For further information: 
 
 
+---------------------------------------+---------------------------------------+ 
| PGI                                   | 020 7236 6135                         | 
+---------------------------------------+---------------------------------------+ 
| Geoff Moores, Financial Director      |                                       | 
+---------------------------------------+---------------------------------------+ 
|                                       |                                       | 
+---------------------------------------+---------------------------------------+ 
| Panmure Gordon                        | 020 7459 3600                         | 
+---------------------------------------+---------------------------------------+ 
Andrew Godber 
Andrew Potts 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCILFIDSVIVFIA 
 

Grafico Azioni Pgi Group (LSE:PGI)
Storico
Da Dic 2024 a Gen 2025

Grafico Azioni Pgi Group (LSE:PGI)
Storico
Da Gen 2024 a Gen 2025