RNS Number : 0406U
PGI Group PLC
17 June 2009
17 June 2009
PGI Group PLC
Provision of a facility for trading shares in the Company following de- listing
The Company announced on 23 April 2009 that the directors of PGI Group PLC (the 'Company') were proposing to seek shareholders' approval for the cancellation of the listing of the Company's shares on the Official List and of their trading on the London Stock Exchange (the 'Listing'). The Company has now posted a circular to shareholders outlining the proposals in greater detail.
The Company stated in the circular that it was exploring the possibility of providing after cancellation of the Listing a facility through the Company's website which would allow shareholders wishing to trade in the shares in the Company the opportunity to find a counterparty on a commission free basis.
The Company confirms that, if the Listing is cancelled, it shall provide such a facility. Its main features will be as follows:
1. Shareholders will be able to inform the company secretary if they are interested in buying or selling
shares in the Company on a private sale basis.
2. The company secretary will, from time to time, post details on the Company’s web page of shares that are available for purchase or whether there are any shareholders who may be willing to purchase shares. The identity of shareholders willing to purchase or sell shares will not be disclosed on the web page.
3. The relevant Company web page, which will be password protected, will contain a monthly summary of the numbers of shares sold and the corresponding average price per share but the Company will not itself have any involvement in the setting of the price.
4. Shareholders will be able to contact the company secretary to obtain the details of a party who has indicated an interest in either buying or selling shares. The company secretary will provide the relevant contact details as requested but the Company will not otherwise act as an intermediary between shareholders wishing to buy or purchase shares in the Company.
5. The Company will not charge any commission or other fee for the provision of the facility
The Company intends to have the facility in place by the date on which the cancellation of the Listing becomes effective and will write to shareholders before that date to provide further details of this facility, including information on how a shareholder can obtain a password to access the relevant web page.
17 June 2009
For further information:
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PGI
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020 7236 6135
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Geoff Moores, Financial Director
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Panmure Gordon
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020 7459 3600
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Andrew Potts
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This information is provided by RNS
The company news service from the London Stock Exchange
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