6th Dec 2016 09:13
LONDON (Alliance News) - Russian residential and commercial property developer MirLand Development Corp PLC on Tuesday said it now expects its shares to be cancelled from trading on London's AIM market on December 22, a day later than previously anticipated.
MirLand last month tabled plans to cancel its listing on AIM, having undertaken a review of the benefits of holding a UK listing and a separate listing on Israel's Tel Aviv Stock Exchange.
If the plans are approved by MirLand shareholders, at a meeting due to take place on December 9, the company on Tuesday said it expects its shares will be cancelled from AIM on December 22 and the enlarged share capital will be admitted on the Tel Aviv Stock Exchange on the same day.
This is one day later than MirLand announced last month.
MirLand has received approval for its entire issued and to-be-issued share capital, and securities, to be admitted to trading on the Israeli exchange, but it still needs shareholder approval for the cancellation and listing to go ahead.
MirLand gave no reason as to why the date had been pushed back by a day.
Shares in MirLand were untraded on Tuesday in London, having last traded at 6.00 pence.
By Hannah Boland; [email protected]; @Hannaheboland
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