The Works is proposing to cancel admission of its ordinary shares to the premium segment of the Official List and cease trading on the London Stock Exchange’s (LSE) Main Market for listed securities. It listed on the LSE in July 2018 and is making the move to AIM to make cost savings.
Chair Carolyn Bradley said: “Our proposed move to AIM follows months of careful consideration. We believe AIM to be a more appropriate market for The Works, partly due to our current size but also because of the efficiencies to be gained when compared to the Main Market’s increasing cost and regulatory requirements.
“Many of our major shareholders are supportive of the move and we are optimistic that the expected cost savings and access to alternative groups of investors should help to increase shareholder value.”
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