from trading due to its advisor and broker, Collins Stewart Europe,
resigning.
step closer to fully delisting from AIM, as had been raised in its
interim results, published earlier this month.
“An unfortunate consequence of the aggressive cost cutting
referred to in the interim announcement on March 16 has been to
eliminate fees and costs payable to certain of the company’s
advisors including those in connection with its AIM listing,” said
David Hickey, the company’s chairman.
If within one month following the suspension General Capital
fails to appoint a replacement advisor, the admission of the
lessor’s shares to trading on AIM will be cancelled.
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In its interim results, published on a “going concern” basis,
the lessor announced it had made a pre-tax loss of £22.5 million
(€24.3 million) in the six months ending December 31 2008. To
improve the situation, General Capital’s board announced measures
to cut costs “drastically”, including the possible delisting from
AIM.
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