By Andrea Figueras
Creightons said it intends to cancel its listing on the London Stock Exchange's main market and switch to London's junior AIM.
The U.K. maker of personal care, beauty and fragrance products said Thursday that AIM provides a regulatory regime which is more appropriate to the company's current size and structure, the U.K. maker of personal care, beauty and fragrance products said Thursday.
The company started trading on the unlisted securities market in 1986 and subsequently transferred to the main market of the London Stock Exchange in 1994.
The group gave a number of reasons for the move, noting that the AIM listing is expected to deliver significant cost savings, both financially and in management time. The cost and regulatory requirements of the main market have become higher in recent years and are now disproportionately burdensome for a business the size of Creightons, the company said.
Furthermore, AIM currently offers greater flexibility, enabling the company to agree and execute certain transactions, such as fundraisings, acquisitions and disposals, it added.
Subject to the resolution being passed at the general meeting, the company expects that the effective date of the delisting and AIM admission will be March 31.
For the fiscal year ended March 2024, the company booked revenue of 53.2 million pounds ($66.5 million).
Write to Andrea Figueras at andrea.figueras@wsj.com
(END) Dow Jones Newswires
February 06, 2025 09:05 ET (14:05 GMT)
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