UK's Pelatro crashes on plans to cancel London listing
29/08/2023 08:42
** Shares of Pelatro Plc PTRO.L plunge as much as 80.6% to
record low of 0.63p
** Telecoms-focused marketing software firm resolves to seek
cancellation of trading of the co's ordinary shares on AIM as it
is no longer in the best interest of co
** Says cost, management time and legal and regulatory
burden associated with AIM listing are disproportionate to the
benefits to co
** Also says Nic Hellyer, Chief Financial Officer has
resigned from board with immediate effect
** On track to log worst day on record, if trend holds
** Up to last close, stock had lost about 71% of its value
so far this year
(Reporting by Prerna Bedi in Bengaluru)
((Prerna.Bedi@thomsonreuters.com; +91 98052 24616))