PRIME FOCUS LONDON 
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RNS Number : 2362R
Prime Focus London PLC
01 November 2011
1st November 2011
Prime Focus London plc
("Prime Focus" or the "Company")
AGM Statement and Intention to Cancel AIM Admission
At the Annual General Meeting of the Company that is being held today, the Company will make the following statement to Shareholders:
"The Company announces that after careful consideration of its strategic options, the Board believes that the time is right for Prime Focus to cancel its Admission to AIM and that cancellation should take place as soon as practicable.
The Board believes that the costs associated with being listed on AIM are not justified by the benefits, particularly in light of the lack of liquidity in the Company's shares and low trading volumes and the disposal of the View-D business, as announced on 4 October 2011.
This proposal has the strong support of the Company's majority shareholder, Prime Focus Limited.
A circular convening a general meeting to consider and vote on the Company's proposal to delist will be sent out to Shareholders shortly.
This statement does not constitute a notification of cancellation of the Company's Admission pursuant to Rule 41 of the AIM Rules. A formal Rule 41 notification will be made shortly, either before or at the same time as the circular to Shareholders is sent out. Such notification will confirm the timetable for delisting and will also include a description of how Shareholders will be able to effect transactions in the Company's ordinary share once the Admission has been cancelled.
Finally, the board can confirm that due diligence is currently being undertaken on two new directors and an announcement confirming their appointment will be made shortly. "
Enquiries:
Prime Focus London Plc | Tel: +44 20 7565 1000 |
Namit Malhotra Chairman and interim Chief Executive Officer |
This information is provided by RNS
The company news service from the London Stock Exchange
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