The board of Nanette has announced plans to delist the CEE residential property development company from London's junior Alternative Investment market (AIM).
The board of Nanette has announced plans to delist the CEE residential property development company from London's junior Alternative Investment market (AIM).
Nanette's directors said in a statement that they believed the disadvantages of maintaining the listing exceeded the benefit. The board's main reasons for delisting are that the share price does not reflect the full value of Nanette, and is harming the firm's ability to raise funds. 'The running costs of maintaining the AIM listing and the regulatory requirements involved in the continuing listing on AIM are high,' the board said. In addition, the company's stock is relatively illiquid.
The proposal to delist the company will be put to shareholders at an EGM. The date of the meeting will be announced within a week. The cancellation of the company's listing is conditional on approval by at least 75% of the shareholders at the general meeting.
