Imagesound Wants To De-List
Adrian J Cotterill, Editor-in-Chief
It was hinted at in a number of articles and interviews that Derek Mapp (Imagesound Chairman) gave a few weeks ago and indeed we have suggested that folks like Imagesound and perhaps even Avanti Screen Media would be better off de-listing from the UK’s Alternative Investment Market (AIM).
For now, anyway, Imagesound has made notice that it is to seek cancellation of its AIM listing…
AFX UK Focus
LONDON (Thomson Financial) – Imagesound Plc. said it is seeking to cancel its listing on AIM, adding that trading remains in line with expectations and it continues to explore opportunities to further expand the business, particularly in Europe and the Middle East.
The supplier of in-store music, radio and TV service expects to make annual savings of more than 150,000 pounds as a result of the de-listing.
The company said raising equity finance for acquisitions has not been feasible due to the weakened valuation of its shares, adding that its share price has been erratic, not reflecting the company’s performance or prospects. tfn.newsdesk@thomson.com ndi/jro/ra
We are still looking at the RNS in more detail but we think, that at first glance, it looks like its the small retail investor that loses out.
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