23rd Jan 2015 08:38
LONDON (Alliance News) - Cambria Africa PLC shares dropped heavily in early trade on Friday after the company proposed the cancellation of its shares from AIM.
The company's board said it no longer considered it was in the best interests of the company nor shareholders to retain an AIM listing.
The board said the sale of the Leopard Rock Hotel by the company at a price well below expectations meant the total assets of the company were significantly reduced. Following this, it feels the costs associated with maintaining an AIM listing are disproportionate given the size of the company.
Shares in the company plunged on the news, down 63% to 0.51 pence to be comfortably the worst performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Cambria Africa