5th Oct 2016 11:29
LONDON (Alliance News) - Impact Holdings (UK) PLC on Wednesday said it is planning to cancel its listing on London's AIM market.
The plans by the firm, which provides funding for litigation claims, will be put to shareholders at a meeting on October 31 and, if approved, will see Impact's shares cancelled from trading on November 8.
Impact said it has proposed delisting as its shares are considered illiquid with minimal trades. This, in addition to "burdensome" costs associated with its listing and coupled with the small size of the business, make it "uneconomical" to remain listed, it said. Impact's current market capitalisation is GBP1.7 million.
Shares in the company were down 17% at 52.50 pence following the announcement.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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