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ILT Solutions

  • BY: Andrew Hore |
  • POSTED: 31/10/2008 |

ILT Solutions intends to cancel its Aim quotation.

The online training company is asking for shareholder approval to leave Aim on 1 December.

There is restricted liquidity in the shares and little trading in them. Management complains of the low ratings applied to small Aim companies and the difficulty attracting institutional investors.

This means that ILT does not believe that the Aim quotation is not worth the cost or management time and it will be easier to pursue a long-term strategy as an unquoted company.

At 0.75p (a bid/offer spread of 0.5p/1p) a share, ILT is valued at £720,000. This is the low for this year. The company was founded in June 1999. ILT was originally called iTrain and it joined Aim on 26 September 2002 at an introduction price of 85p a share.

Interim figures showed an improvement in profits from £7,000 to £96,000. Revenues improved from £826,000 to £893,000 in the six months to June 2008. Net cash was £25,000.

ILT is aware of the potential slow down in its markets and it has cut costs. Full year revenues are expected to be flat. 

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