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Greka Drilling plans to delist from AIM

If approved by shareholders, the delisting will become effective at 7 am on October 30

Greka
Greka says its AIM listing is no longer in the interest of the company

Greka Drilling Ltd  (LON:GDL) has decided to cancel the admission of its shares on AIM after concluding that the costs exceed the benefits of the listing.

The company said it was no longer in the interests of the company of its shareholders to remain traded on AIM as its market capitalisation is well below the level it floated at in March 2011 and there is “limited scope” for issuing new shares to fund the company's growth.

The group added that ongoing costs associated with maintaining the listing on AIM are high relative to the company's market value.

The delisting is conditional on the approval of at least 75% of votes from shareholders.  If approved, the delisting will become effective at 7am on October 30

Quick facts: Greka Drilling Ltd

Price: - -

AIM:GDL
Market: AIM
Market Cap: -
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