Move to AIM

API Group PLC
11 January 2008


11 January 2008


                                                                                

                                 API Group plc                                  
                        Move to AIM from the Official List

 

 

Further to the passing of the resolutions at the company's General Meeting on 9
January 2008, the Board of API Group plc ('the Company') today announces that it
intends to apply for admission of its ordinary shares to the Alternative
Investment Market ('AIM'), operated by London Stock Exchange plc.

 

As a result of the Open Offer launched on 17 December 2007 and approved at the
General Meeting, the Company no longer expects to be in compliance with the
Listing Rule requiring at least 25 per cent. of its shares to be in public
hands, once the new shares are admitted on the 18 January 2008. In assessing the
options, the Directors have concluded that AIM, with its more flexible
regulatory environment, may in any case provide a more appropriate market for
the Company's shares.

 

Application by the Company will now be made for the ordinary shares to be
delisted from the Official List and from trading on London Stock Exchange's main
market for listed securities, and for the ordinary shares to be admitted to
trading on AIM.

It is expected that the Company's ordinary shares will be simultaneously
cancelled on the Official List and admitted to AIM on 12 February 2008, subject
to receipt of necessary approvals from the relevant regulatory authorities for
each exchange.

 

 

Ends



Enquiries


Andrew Turner, Group Chief Executive Officer             01625 650334

API Group plc


Tim Spratt / Nicola Biles                                020 7831 3113

Financial Dynamics

 

Nick Westlake / Bruce Garrow                             020 7260 1000

Numis Securities Ltd

 

 



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