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Conder Environmental
- BY: Andrew Hore |
- POSTED: 18/07/2008 |
Conder Environmental plans to cancel its Aim quotation.
Conder says that it costs £250,000 a year to be quoted on Aim. It is valued at £570,000 at the current share price of 1p a share, so the cost is a significant amount for the company. The liquidity of the shares is also poor.
The company designs and makes oil/water separators, sewage treatment plants and pumping stations. It reported a loss of £836,000 in the year to April 2007 and a £4,000 profit in the six months to October 2007.
Conder plans to set up a facility for matching bargains between sellers and buyers of the shares.
The general meeting to pass the resolutions will be held on 11 August and Conder expects to leave Aim on 19 August. A capital reorganisation will also be put to the meeting which will mean that the par value of the shares will be reduced from 10p to 1p a share. New share certificates will also be sent out on 19 August.
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