VSA Capital is the latest Aim adviser to shed its Aim quotation.
This follows the decision by Westhouse to leave Aim. VSA has been trying to become a nominated adviser but weak trading conditions mean that it has not been involved in enough Aim transactions to gain the status as yet. VSA believes that it would be easier to raise money as an unquoted business. Unsurprisingly, the share price has more than halved to 1.88p, which values VSA at £940,000.
VSA continues to lose money and costs are being reduced. The Aim cancellation will further reduce costs.
Shareholders owning 38.6% of VSA say that they will vote for the Aim cancellation on 17 April. VSA requires 75% of the shares voted. There are plans for a trading facility for the shares and this would be administrated by Capita.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFMarch2013_42.pdf
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