16th Oct 2015 07:44
LONDON (Alliance News) - Capital Lease Aviation PLC on Friday said it has proposed the cancellation of its listing on AIM as listed rival Avation PLC's stake in the company has increased to around 97%.
Capital Lease said Avation's stake in the company has increased to around 97%, meaning liquidity in its remaining shares has been substantially diminished. As a result of this and the cost of maintaining a listing in London, the company has decided to de-list its shares and re-register as a private company.
It said it will work with remaining shareholders to acquire their shares in the business once the de-listing is completed.
The plans will be put to Capital Lease shareholders at its annual general meeting on November 16.
Shares in Capital Lease were down 15% to 20.00 pence on Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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