SECO Secora

    RNS Number : 0296E
  Secora PLC
  23 September 2008
   

    
    23 September 2008
    Secora plc
    Proposed transfer to PLUSMarkets
    Secora, the investment company focused on the development of consumer lifestyle brands in the entertainment, leisure, fashion and health
& beauty sectors announces that it will shortly be seeking shareholder approval for the cancellation of its trading facility on AIM, and
will be seeking admission of its Ordinary Shares to PLUS Markets.  
    Under the AIM Rules for Companies, the de-listing can only be effected by securing shareholder approval of a resolution in a general
meeting, and the expiration of a period of at least twenty business days from the date on which notice of the de-listing is given. 
Accordingly a circular will be sent to shareholders in due course convening an extraordinary general meeting to seek the necessary
approval.
    The Board believes that PLUS Markets offers an appropriate capital market for companies of Secora's size and will also offer a
continuing trading platform for shareholders. Additionally, in the current economic climate the Board is seeking to reduce the
administrative cost of maintaining a trading facility for its shares and believes that the costs of maintaining a PLUS quote are likely to
be lesser than maintaining a quote on AIM.
    Although Secora's future lies on PLUS its strategy will remain unchanged, and it continues to review opportunities within its chosen
investment sectors.
    Brewin Dolphin will be resigning as Nominated Adviser with immediate effect and, in accordance with the AIM Rules, Secora's shares will
be suspended from trading on AIM for a period of one month, following which its listing on AIM will be cancelled as Secora will not be
seeking to appoint a replacement.  Secora is currently in discussions with Rivington Street Corporate Finance to act as its PLUS Adviser.
    In the event that the PLUS Market trading facility is not in place by the time of cancellation of Secora's AIM trading facility, or
within a short period of time thereafter, the Directors will consider implementing an interim matched bargain trading facility to bridge the
timing gap, in which case a further announcement will be made giving details in this regard. 
    For further enquiries:
    Marcus Yeoman - Chairman (0207 039 0187)
    ENDS

This information is provided by RNS
The company news service from the London Stock Exchange
 
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