A follow-up to the story of the re-domicile of payment services provider SafeCharge International Group Ltd (LON:SCH) and the resultant re-admission of its shares to trading on the AIM Market of the London Stock Exchange (AIM)…
An AIM notice from this morning shows that 151,575,515 ordinary shares in the company were re-admitted to trading as of 8:00 am (London time) today. These are the so-called Guernsey ordinary shares that replace the previously listed BVI ordinary shares.
The company believes that SafeCharge that a migration to Guernsey would facilitate a potential move of the company from AIM to the Main Market of the London Stock Exchange. Also, as a company incorporated in Guernsey, SafeCharge will fall under the auspices of The City Code on Takeovers and Mergers, and will, therefore, secure some extra protections to its shareholders.
To view the formal announcement on the shares re-admission on AIM, click here.