IN BRIEF: Ultimate Products sees January AIM move after AGM approval
Ultimate Products PLC - Oldham, England-based owner of homeware brands including Salter and Beldray - Following shareholder approval at Friday's annual general meeting, Ultimate Products says it expects to switch its London listing to AIM on January 15, from the London Stock Exchange's Main Market. In November, Ultimate Products said it had concluded the AIM market would be the most suitable listing venue for the group at the current market capitalisation. "In particular, the company's market capitalisation is well below the threshold which would enable it access to index-tracker funds which could support liquidity in the company's shares," it said at the time. Ultimate Products also anticipates some cost savings through a combination of audit, legal and other administrative savings and believes that an AIM quotation would reduce the administrative requirements of the senior management team. Read More