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Alba Tress Withdrawing from PLUS |
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ALBA TREES PLC
("Alba" or "the Company")
(PLUS Markets: ALBP)
INTENDED WITHDRAWAL FROM PLUS
The Company hereby announces that it intends to withdraw its shares from the
PLUS Market.
The Company*s board of directors (*the Board*) have unanimously decided
that it is no longer in the best interests of the Company for its shares to
continue to be quoted on the PLUS Market. Shareholders holding 1,478,170
ordinary shares, representing 85.17% of the issued share capital of the
Company, have irrevocably undertaken to vote in favour of a resolution of
the Company, to be put to the shareholders of the Company at a General
Meeting to be held at Alba Trees on 22nd December 2009, to withdraw the
shares of the Company from the PLUS market.
In reaching this decision the Board have taken into consideration the resources
required to maintain the PLUS quotation, both in terms of cash and management
time, as well as the relatively little use being made by shareholders of the
Company's PLUS Market facility.
Accordingly the Board have decided to request that the PLUS Market facility is
withdrawn with effect from the close of business on Thursday 31 December 2009.
For any shareholdings held under CREST the Company will arrange with Capita
Registrars for the share holding to be "materialised" and a share certificate
issued.
Following the withdrawal, any shareholders wishing to buy or sell shares should
contact the Company Secretary who will note their wishes and inform them of any
other parties who have expressed an interest in investing in the Company's
shares.
THE DIRECTORS OF ALBA TREES PLC TAKE FULL RESPONSIBILITY FOR THIS ANNOUNCEMENT.
ENQUIRIES:
Barry Sutton
Development Director
Alba Trees Plc
Lower Winton
Gladsmuir
East Lothian
EH33 2AL
Tel: 01620825058
email: bs@albatrees.co.uk
END
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