On 14 May 2012, PLUS Markets Group PLC ("PLUS" or the
"Company") announced that, following the termination of
the formal sale process announced to the market on 3 February 2012,
the Company intends to commence a process of orderly closure of the
regulated activities undertaken by the PLUS Group, including the
operation of PLUS's cash equities recognised investment
exchange.
In consultation with the FSA, the Company expects that the PLUS
Group's regulated activities will be wound down over a period
of up to six months in order to minimise market disruption. PLUS
has confirmed that it will work with companies currently traded on
the PLUS-quoted market to ensure they are able to find suitable
alterative arrangements for the trading of their shares. In the
interim, the market will continue to operate as normal.
The closure of the PLUS market is likely to mean that many
companies will now seek to admit their shares to listing on other
exchanges, in particular the Alternative Investment Market
("AIM") of the London Stock Exchange. It is expected that
some smaller PLUS companies or those with low levels of liquidity
in their shares may be taken private.
The CMS UK Equity Capital Markets team specialises in advising
companies on listing on AIM, as well as on the Official List, and
can provide advice and guidance on the formalities and timings
required in moving to those markets, as well as the relative
benefits and disadvantages and the continuing obligations with
which listed companies must comply.
This article was written for Law-Now, CMS Cameron McKenna's free online information service. To register for Law-Now, please go to www.law-now.com/law-now/mondaq
Law-Now information is for general purposes and guidance only. The information and opinions expressed in all Law-Now articles are not necessarily comprehensive and do not purport to give professional or legal advice. All Law-Now information relates to circumstances prevailing at the date of its original publication and may not have been updated to reflect subsequent developments.
The original publication date for this article was 15/05/2012.
