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Supercart

  • BY: Andrew Hore |
  • POSTED: 10/12/2012 |

Plastic shopping trolleys supplier Supercart intends to cancel its AIM quotation.

This announcement knocked 0.4p off the share price leaving it at 0.23p and valuing Supercart at £530,000.

The company’s main shareholder is Venture Holdings, which increased its stake from 48.6% to 67.4% during the summer when it swapped its loan for shares and subscribed for additional shares the shares were issued at 2.5p each – three times the market price at the time.

Supercart made a small interim profit. Supercart has not achieved the hoped for growth and it needs to cut its cost base. Management believes that the BritDAQ trading platform is more appropriate. The shares will be traded on a matched bargain basis.

If shareholders approve, which seems likely, the last day of trading on AIM will be 18 January.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFNovember2012_38.pdf

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