Friday, December 23, 2022
City of London Group plc (AIM:COLG) yesterday announced its proposed cancellation from AIM and intention to join Asset Match Private Market.
In an announcement dated 23rd December 2022, City of London Group announced its intention to appoint Asset Match as its secondary trading facility following its proposed cancellation from trading on AIM. The company plans to enter a members voluntarily liquidation (MVL) as part of a solvent re-organisation of the group structure, with ownership of ordinary shares being distributed to shareholders in specie to the wholly owned subsidiary Recognise Bank Limited (RBL).
Cancellation from AIM, as well as the planned MVL and distribution of shares to Recognise Bank Limited is scheduled to be approved at a General Meeting to be held on Wednesday 25th January 2023. The expected date for distribution of RBL shares to shareholders is 20th February 2023 with Admission to the Asset Match Private Market to follow on completion. The full announcement from City of London Group can be found here.