Partner Article

Shareholders approve plan to delist

Construction firm Tolent’s plans to delist from the stock market have been approved at a general meeting.

The Gateshead company said that shareholders had passed the resolution which was first anounced last month.

Cancellation of the company’s shares on the AIM will take place on February 16, bringing an end to 10 years on the market.

The company’s decision was driven by fluctuations in its share price which it said made customers nervous and a failure to gain any of the advantages associated with joining the AIM.

Over 70% of the shares are owned by Gutenga Investments – a trust owned by the family of Henry Schmil, founder of Amco, from which Tolent demerged on to AIM in 1999.

This was posted in Bdaily's Members' News section by Ruth Mitchell .