Shore Capital Group intends to delist its shares from London Stock Exchange

Maria Nikolova

The investment company will retain its listing on the Bermuda Stock Exchange.

Shore Capital Group Ltd (LON:SGR), an investment group specialising in capital markets, asset management and principal finance, has unveiled its plans to delist its shares from the AIM Market of the London Stock Exchange.

According to the Board, the Group has sufficient and significant capital to meet its growth ambitions, obviating the need to access new equity capital in the London markets by being admitted to trading on AIM. Further, the Board believes that a lack of liquidity underpins what the Board dubs a “mispricing of the Company’s equity”. This is said to be proven by the significant discount to NAV at which the shares trade.

Finally, according to the Board the cost and management time associated with maintaining the company’s AIM admission are considerable and disproportionate when compared to the advantages of retaining the AIM listing.

The Board’s delisting proposal will be put to vote at a General Meeting to be held at 10 am on October 15, 2019 at 3rd Floor, 1 Le Truchot, St Peter Port, Guernsey GY1 1WD.

The proposed cancellation is conditional upon the consent of not less than 75% of votes cast by shareholders at the General Meeting. Subject to Shareholder approval, it is expected that the admission of the ordinary shares to trading on AIM will be cancelled with effect from 7.00 am on November 1, 2019.

Shore Capital intends to keep its listing on the Bermuda Stock Exchange.

Read this next

Digital Assets

TRON approves Wintermute to mint, burn USDD stablecoin

TRON Reserve DAO has welcomed crypto market-making giant Wintermute as the ninth member and whitelisted institution to mint Tron network’s stablecoin, Decentralized USD (USDD).

Metaverse Gaming NFT

Nas Academy and Invisible College introduce innovative model for Web3 education

Singapore-based online learning platform, Nas Academy is joining forces with Invisible College to teach people everything they need to know about the Web3.

Digital Assets

Top exec at BitMEX pled guilty US Bank Act violations, pays $150K fine

BitMEX’s head of business development, Gregory Dwyer pled guilty to violating the US Bank Secrecy Act (BSA) and allowing customers to use the platform to circumvent the federal anti-money laundering rules.

Retail FX

CySEC slaps €150,000 fine on FXBFI, operator of 101investing brand

The Cyprus Securities and Exchange Commission (CySEC) today announced that it has reached a settlement with FXBFI Broker Financial Invest Ltd, trading as 101investing, ordering the firm to pay €150,000 for violating the Investment Services and Activities and Regulated Markets Law.

Retail FX

X Open Hub expands multi-asset offering with new cryptocurrencies and indices

X Open Hub, a multi-asset liquidity provider, announced today that it has extended its offering with inclusion of 30 new cryptocurrencies and two emerging market indices.

Retail FX

Interactive Brokers now offers 24/7 access to crypto trading

Interactive Brokers Group, Inc. (NASDAQ: IBKR) has widened access to cryptocurrency trading for its clients. Specifically, the discount broker extended trading hours for its cryptocurrency products to be traded 24/7, including on the weekends.

Inside View

Natural Language Generation for Multi-Language Social Media Strategies 

Natural Language Generation (NLG) is a crucial growth area in the digital landscape, with the unique potential to be used across multiple industries.

Market News, Technology

The B2Core Android App is Now Available For Download

The first version of the B2Core Android app is available for download, and it has many beneficial features for users.

Digital Assets

XBO taps custodian Fireblocks ahead of crypto exchange’s launch

XBO.com has integrated with digital asset and crypto technology platform Fireblocks ahead of the crypto exchange’s upcoming launch.

<