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Retec Digital
- BY: Andrew Hore |
- POSTED: 23/01/2009 |
Retail screen media provider Retec Digital intends to drop its Aim quotation.
Retec complains about the short-term investment horizon of the market and says it makes it difficult to raise money. The company’s market capitalisation of £1.03m, following a 0.75p decline in the share price to 0.625p, is well below when it joined Aim.
Retec says that it will save around £150,000 a year by leaving Aim.
The shares will be traded on a matched bargain basis by JP Jenkins.
Management believes that the most likely exit for shareholders will be via a trade sale in two or three years time.
The main customers are Sainsbury’s, Tesco, Wm Morrison, Argos and Boots. The rate of growth of revenues has slowed in the present financial year. Leaving Aim will help to reduce overheads.
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