12th Apr 2016 13:54
LONDON (Alliance News) - Hellenic Carriers Ltd Tuesday said shareholders have voted in favour of the company's proposal to delist from AIM.
All the resolutions put forward at the company's annual general meeting in Athens, Greece, were passed on Tuesday. The resolution concerning the delisting needed approval from at least 75% of its shareholders.
Hellenic Carriers proposed delisting its shares back in March after conditions became increasing challenging within the bulk shipping market, which it said was "probably the worst for the last 30 years".
Hellenic had said it has concluded that it is not enjoying any of the benefits of being quoted on a public market, and considering the costs of maintaining a listing, it has "become evident that it would be economically sensible to proceed with the delisting".
Hellenic shares will cease trading next Tuesday.
By Joshua Warner; [email protected]; @JoshAlliance
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