News blog
Finance Ireland
- BY: Andrew Hore |
- POSTED: 23/05/2008 |
- COMMENTS: Add yours
Finance Ireland is leaving Aim and its Irish equivalent IEX.
The company stopped offering its mortgage products in February because of the problems with the international and local finance markets. It continues to manage its ongoing portfolio of mortgages and financial products and has cut overheads.
Finance Ireland says that it costs €300,000 for it to be quoted on Aim and IEX. That cost is a significant burden for the company especially when there isn’t much chance of raising additional cash at the moment.
Management is still looking for acquisitions in the finance sector and may return to the markets in the future.
A general meeting will be held on 24 June to gain shareholder approval for the exit from Aim and IEX.
The shares fell 0.25p to 11.25p, valuing the company at £2.07m.
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