SYA Synarbor

    RNS Number : 1651C
  Synarbor PLC
  28 August 2008
   
28 August 2008
Synarbor PLC (*Synarbor* or the *Company*)
 
Re: Cancellation of admission to AIM

    Pursuant to the announcement made by Synarbor yesterday in which it announced that a circular has been posted to shareholders to convene
a General Meeting in order to table a resolution to cancel admission of Synarbor's shares from AIM, Synarbor today confirms that an
application has been made for the cancellation of admission of the ordinary shares of the Company from trading on the AIM market of the
London Stock Exchange. It is expected that, subject to shareholder approval being sought at a general meeting on 19 September, the
cancellation will take effect at 7.00 a.m. on 26 September 2008. 
    The Directors have recently undertaken a review of the benefit of the Company continuing to be traded on AIM, recognising the following
key factors:

    *     the Company's susceptibility to market conditions, especially the effect of poor liquidity and a stagnant or falling share price,
has had a de-motivating effect on the business and its employees;
    *     the low market capitalisation of the Company is also having a detrimental effect on the perceptions of clients and suppliers of
the Group;
    *     one of the key attractions of listing, the ability to raise further capital to fund acquisitions, is no longer available in the
current climate. The Directors believe this is unlikely to change materially in the foreseeable future;
    *     a lower level of public scrutiny will enable the Group to develop new commercially sensitive business areas and perform better
without onerous disclosure requirements and the pressure a quoted company faces in focussing on short term performance rather than long-term
growth; and
    *     the costs, management time and regulatory burdens associated with maintaining the AIM listing.
    The Directors have therefore concluded that it is no longer in the best interests of the Company or its Shareholders as a whole to
maintain admission to trading on AIM of the Ordinary Shares.
    The Directors are aware that Shareholders may still wish to acquire further or dispose of Ordinary Shares and, accordingly, intend to
use reasonable endeavours to create and maintain a matched bargain settlement facility. Under this facility Shareholders or persons wishing
to acquire shares will be able to leave an indication with the matched bargain settlement facility provider that they are prepared to buy or
sell at an agreed price. In the event that the matched bargain settlement facility provider is able to match that order with an opposite
sell or buy instruction, the matched bargain settlement facility provider will contact both parties and then effect the order. Shareholders
who do not have their own broker may need to register with the matched bargain settlement facility provider as a new client. This can take
some time to process and therefore Shareholders who consider they are likely to avail themselves of this facility are encouraged to commence
it at the earliest opportunity. The contact details of the matched bargain settlement facility provider once arranged will be made available to Shareholders on the Company's website.

FOR FURTHER INFORMATION PLEASE CONTACT:
 
Synarbor PLC                                                                            0114 283 4925
Dean Kelly * Chief Executive Officer
Daniel Urmson * Chief Financial Officer
 
Landsbanki Securities (UK) Limited                                                020 7426 9000
James Wellesley Wesley
Claes Spang

This information is provided by RNS
The company news service from the London Stock Exchange
 
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