FINANCIALS: Kellan to delist from AIM by mid-January

Kellan Group is seeking to delist from the AIM market of the London Stock Exchange by mid-January 2019.

In a statement, released late last week, the multi-sector recruiter revealed its directors considered the cancellation to be in the best interests of shareholders after considering, among other things, the costs associated with maintaining trading in the company’s shares on AIM.

Back in September, the group revealed it was considering delisting the trading of its shares from AIM.

The group added that it anticipates that the last trading day of its shares on AIM will be 14 January 2019, providing it can secure 75% of votes backing the proposal at a general meeting set for 3 December. The proposal already has the backing of 70% of shareholders.

The statement further revealed major shareholder BMN Commercial has put forward an offer to buy 67.9m shares in an off-market transaction at 0.4p each.

The offer opened today and will remain open 21 business days after the group’s shares stop trading on AIM.

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