News blog
Clean Diesel Technologies Inc
- BY: Andrew Hore |
- POSTED: 10/04/2009 |
Clean Diesel Technologies Inc is one of the latest companies to decide to leave Aim.
Clean Diesel intends to concentrate on its Nasdaq quotation which it obtained on 3 October 2007. Clean Diesel joined Aim on 20 December 2001. At that time it was also quoted on the OTC market in the US. Prior to that Clean Diesel had been listed on Nasdaq for a couple of years but it failed to comply with the listing requirements and was dropped.
Management says that most of the trading in the shares is on Nasdaq. The average daily volume on Nasdaq has been 9,010 shares and on Aim it has been 700 shares.
Clean Diesel says it costs an additional $200,000 to be traded on Aim, which includes time spent as well as direct cost. The shares are also traded on the Xetra trading platform in Germany.
At 300p a share, Clean Diesel is valued at £24.6m.
At the moment the Nasdaq listing requirements have been suspended. There is always a danger that when the listing requirements are reinstated Clean Diesel could fall foul of them again.
The shareholder meeting to vote on the Aim cancellation is on 13 May 2009. If the resolution is passed by at least 75% of the share capital then the quotation will be cancelled on 21 May 2009.
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