LCG Shareholders Approve Proposed Delisting from AIM Following NEX Listing
- LCG’s market cap now stands at below £4.0 million.
Shareholders of London Capital Group (LCG) have approved the company’s delisting from the London Stock Exchange (LSE) at the general meeting held earlier today.
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The FX, CFDs and spread betting provider, which listed on London Stock Exchange’s Alternative Investment Market (AIM) in December 2005, announced last month that after talks with its largest shareholder GLIO Holdings, it has decided to seek shareholder approval to cancel trading of its shares on the 6th of February 2018.
The company explained that its decision to cancel the listing was a result of its recent admission to the NEX Growth Market, and as the time is right to reduce the complexity and expense of maintaining listing on AIM, as well as citing the limited Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term of its shares as a major concern.
The retail brokerage needed 75% of votes in favour to pass the cancellation. It largest shareholder, GLIO Holdings, which is led by Charles-Henri Sabet, has already announced that it will support the move at the company's general meeting. GLIO holds a 78% interest in the company.
With its core services concentrated on the trading products targeted by the UK and Europe regulators' recent clampdown, the last few months have been a grim period for the UK’s online retail broker. The ailing company was hit by unexpectedly low levels of market Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term and the threat of the FCA and ESMA tightening their grip on the industry.
LCG’s market cap now stands at below £4.0 million. Still, the company said last year that its revenues jumped to £23.2 million ($30.3 million) in 2016, up 50 percent from £15.5 million ($20.3 million) the year before.
In 2014, LCG was acquired by Charles-Henri Sabet who pumped a £17.5 million boost to finance the turnaround efforts that included a restructuring and rebranding process, and the launch of new platforms and technology.
According to the company's circular: “The last day of dealings in the its ordinary shares will be 13 February 2018 and at 7.00 a.m. on 14 February 2018 the Company's ordinary shares will be cancelled from trading on AIM. Following the Cancellation, the Company's ordinary shares will remain admitted to trading on the NEX Exchange.”
Shareholders of London Capital Group (LCG) have approved the company’s delisting from the London Stock Exchange (LSE) at the general meeting held earlier today.
Discover credible partners and premium clients at China’s leading finance event!
[gptAdvertisement]
The FX, CFDs and spread betting provider, which listed on London Stock Exchange’s Alternative Investment Market (AIM) in December 2005, announced last month that after talks with its largest shareholder GLIO Holdings, it has decided to seek shareholder approval to cancel trading of its shares on the 6th of February 2018.
The company explained that its decision to cancel the listing was a result of its recent admission to the NEX Growth Market, and as the time is right to reduce the complexity and expense of maintaining listing on AIM, as well as citing the limited Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term of its shares as a major concern.
The retail brokerage needed 75% of votes in favour to pass the cancellation. It largest shareholder, GLIO Holdings, which is led by Charles-Henri Sabet, has already announced that it will support the move at the company's general meeting. GLIO holds a 78% interest in the company.
With its core services concentrated on the trading products targeted by the UK and Europe regulators' recent clampdown, the last few months have been a grim period for the UK’s online retail broker. The ailing company was hit by unexpectedly low levels of market Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term and the threat of the FCA and ESMA tightening their grip on the industry.
LCG’s market cap now stands at below £4.0 million. Still, the company said last year that its revenues jumped to £23.2 million ($30.3 million) in 2016, up 50 percent from £15.5 million ($20.3 million) the year before.
In 2014, LCG was acquired by Charles-Henri Sabet who pumped a £17.5 million boost to finance the turnaround efforts that included a restructuring and rebranding process, and the launch of new platforms and technology.
According to the company's circular: “The last day of dealings in the its ordinary shares will be 13 February 2018 and at 7.00 a.m. on 14 February 2018 the Company's ordinary shares will be cancelled from trading on AIM. Following the Cancellation, the Company's ordinary shares will remain admitted to trading on the NEX Exchange.”