VSA Capital Group PLC Further re: Proposed cancellation of AIM admission (7646B)
08 Aprile 2013 - 8:00AM
UK Regulatory
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
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