Commercial property investment firm to lose AIM listing

Commercial property investment firm to lose AIM listing



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Equable Properties, the commercial property investment firm owned by Desmond Bloom, has admitted that its AIM listing will most likely be cancelled at the beginning of next year. 

The company’s shares were suspended on the 2nd of July when it was in talks to make a proposed acquisition that would constitute a reverse takeover.

 

Although this deal has now fallen through, the rules of AIM, the junior market of the London Stock Exchange, stipulate that a group’s listing will be automatically cancelled if shares are suspended for more than six months.

 

In order to avoid being de-listed, Equable Properties must now publish an admission document and its annual results for the year up until the 31st of March.

 

However, Equable said it does not believe it will be able to produce the accounts in time and also revealed the resignation of Finncap, its nominated advisor and broker with immediate effect.

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