30th Jan 2020 18:14
(Alliance News) - PME African Infrastructure Opportunities PLC said Thursday it has adjourned its general meeting for the vote to delist its shares, on a request by shareholder Qatar Investment Authority.
Qatar Investment holds a large stake in the investment firm.
In December, PME African proposed the cancellation of its AIM listing. The delisting requires approval from at least 75% of shareholders, with votes scheduled to be cast on February 4 at an extraordinary general meeting.
However, Qatar has requested more time to consider the resolution.
If the resolution was passed at the now-cancelled extraordinary general meeting, the de-listing would have become effective on February 12. However, as the vote has now been adjourned until further notice, the shares will no longer be cancelled on that date.
The stock closed untraded at USD0.030 on Thursday in London.
By Ife Taiwo; [email protected]
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