29th Nov 2019 14:01
(Alliance News) - EIH PLC said Friday it has consulted with shareholders over its proposed delisting from London's AIM.
The Indian private equity fund of funds holding company said the "vast majority" of its shareholders are in favour of the delisting, in the interest of saving costs.
"However, to allow for those shareholders who hold their shares in ISAs to transfer their holdings into more appropriate accounts, the Company has decided to delay the delisting until June 2020. EIH therefore expects to publish a circular convening a general meeting during May 2020," EIH added.
EIH was seeking to delist from AIM due to its lack of share liquidity and the cost of its AIM listing.
Last week, EIH announced the life of its Evolvence India Fund PCC has been extended to the end of October 2020 and will likely be extended further. EIF's investment manager will not charge management fees during the extension period, although the fund is still expected to incur expenses from legal, administrative, accounting, and deal costs.
Shares in EIH were untraded in London on Friday but last closed at USD0.070.
By Paul McGowan; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.