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Cantono

  • BY: Andrew Hore |
  • POSTED: 10/02/2009 |

Cantono has decided to leave Aim.

The data centres operator has sent a circular to shareholders to convene a meeting to pass the resolution to cancel the Aim admission.

The shares fell 0.25p to 1.75p a share, which values Cantono at £530,000. The share price has fallen by 96% over the past year. The weak share price has also made it difficult to raise additional funds. The most recent fund raising was achieved by using convertible loan notes. These loan notes are convertible at 3p a share.

Cantono’s management believes that the current market value does not represent the true worth of the business.

Cantono says that the quotation costs more than £200,000 a year and takes up significant management time.

The general meeting will be held on 25 February and the quote should be cancelled on 11 March. 

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