HR Go announces ISDX delisting
The company has put in place a matched bargain arrangement with JP Jenkin & Co, a City Stockbroker.
The company has stated that the original decision to list was made in good faith when the Group was structured substantially around joint ventures and the anticipation that Group shares might be more widely held and traded. They added that as this is no longer the case, the decision was made to delist the shares.
The Group will continue to describe itself as a plc, as this designation can be adopted by any company with an issued share capital of £50,000, irrespective of ownership or market listing. The decision will have no effect on the company’s commercial relationships with customers, suppliers or bankers, or on growth plans.
A number of other smaller companies have made similar decisions recently, which are based solely upon determining that the costs of maintaining a listing and the extra accounting reporting it entails, outweigh the benefits.