15th Oct 2015 07:48
LONDON (Alliance News) - Vmoto Ltd Thursday said it has decided to cancel its shares from trading on AIM following a review of its listing by the board.
The electric scooter manufacturer's shares will be cancelled from 0700 GMT on November 19.
Vmoto said the decision was made following a review by the board which concluded that the costs incurred in maintaining a secondary listing on AIM exceeded the benefits obtained from the listing, given that the company's shareholder base is predominately Australian as well as the relatively low volume of trading in shares on AIM.
Vmoto will continue to maintain its listing on the Australian Stock Exchange.
Shares in Vmoto were trading down 21% at 10.30 pence Thursday morning following the announcement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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