1st Jun 2016 16:38
LONDON (Alliance News) - Dalata Hotel Group PLC, the hotel operator in Ireland, on Wednesday said it wants to move its shares from London's AIM market for smaller companies and Ireland's ESM market, to the primary listing segment of the official list of the ISE and the standard listing segment of the official list of the UK Listing Authority and to trading on the London Stock Exchange's Main Market.
"Our listings on the AIM and ESM have served us well in accessing capital markets to develop our strategy to grow our portfolio of owned and leased hotels at an opportune time in the Irish Market. It also enabled us to increase our presence in the UK market," Chief Executive Pat McCann said in a statement.
"Given the considerable growth of the business both financially and operationally we believe that a listing on the Main Markets is the most appropriate platform for our future development. Through this move to the Official List we look forward to improving our profile and broadening our investor base further," McCann said.
The company is not raising any funds or issuing any new shares in connection with the move.
Shares in Dalata closed down 1.7% at 368.75 pence.
By Samuel Agini; [email protected]; @samuelagini
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