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Springdoo

  • BY: Andrew Hore |
  • POSTED: 16/03/2008 |

Springdoo will hold an EGM on 4 April to agree to the cancellation of its Aim quotation.

Springdoo says that it costs £65,000 a year for it to be quoted. The board believes that it will be better for the company if it doesn’t return as a shell and have to make an acquisition within 12 months in order to retain its quotation.

The EGM will also vote on the disposal of the company’s remaining property.

Springdoo has sold its stake in New Zealand-based video communications company Springdoo NZ for 250 shares in User Generated Broadcasting Ltd. The company intends to retain this investment.

At 10p, the company is capitalised at £1.94m, compared with expected cash of around £1.25m plus its remaining assets.

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