Barkers Norman Broadbent (BNB) Resources plans to move its share listing from the official London Stock Exchange to the Alternative Investment Market (AIM).

BNB’s current market capitalisation is around £10m and the directors consider that AIM is therefore a more suitable market, according to a statement released by the company.

When trading on AIM begins Shore Capital and Corporate Ltd will act as nominated adviser to the company and Shore Capital Stockbrokers Ltd as stockbroker.

BNB has been suffering a dip in the market since April, according to Group Finance Director Paul Turner. MyOyster, BNB’s web-based division, was recently shelved as an independent enterprise and transferred to the company’s other brands. Set up in 2000, MyOyster was established to ‘revolutionise’ the use of e-commerce in recruitment and HR.

BNB has made a number of redundancies this year in line with current economic conditions, Turner said.