26th Jan 2006 16:10
Eleco PLC26 January 2006 Eleco plc Proposed Transfer to AIM The Board of Eleco plc ("Eleco" or "the Company") announces the proposed de-listing from the Official List and transfer to AIM. A circular convening anExtraordinary General Meeting ("EGM") seeking approval to the proposals is todaybeing posted to shareholders. The Board considers that AIM is a more appropriate market for the Company'sOrdinary Shares and that a transfer to AIM should lead to lower ongoing costsassociated with being a public company and a simplification of administrationrequirements. It will also enable the Company to execute significanttransactions more expeditiously should any acquisition or other developmentopportunity arise in the future. However, the Board envisages no alteration inthe standards of reporting and governance to which the Group has hithertooperated. The anticipated key dates are as follows: Extraordinary General Meeting Monday 20 February 2006 Final day of dealing on Official List Tuesday 21 March 2006 Admission to and first day of dealing on Wednesday 22 March 2006AIM The Board is also pleased to announce that, subject to shareholder approval ofthe de-listing and transfer to AIM, Charles Stanley Securities will be appointedas the Company's Nominated Adviser and Broker with effect from the admission toAIM. Copies of the circular, which are being posted to Eleco shareholders, have beensent to the UK Listing Authority and will shortly be available for inspection atthe UK Listing Authority's Document Viewing Facility, situated at: Financial Services Authority25 The North ColonnadeCanary WharfLondon E14 5HS 26 January 2006 Enquiries: Eleco plcJohn Ketteley Executive ChairmanDavid Dannhauser Finance Director+44 (0)1920 443830 Charles Stanley SecuritiesRichard Thompson / Philip Davies+44 (0)20 7953 2457 Binns & CoTarquin Edwards+44 (0)20 7786 9600 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Elecosoft