Datatec cancels Aim listing in London
Datatec, the JSE listed information and communications technology (ICT) company, has announced that the secondary listing of its shares on the Alternative Investment Market of the London Stock Exchange (AIM) will cease and cancellation will be effective on 8 December 2017.
The primary listing of Datatec shares on the Johannesburg Stock Exchange will continue and is not affected by the cancellation of the AIM listing, it said.
Datatec said it initiated a secondary listing of its shares on AIM in October 2006 with the intention of providing the group with greater access to capital with which to support the continued growth of its international businesses and to attract a broader range of institutional investors.
“However, the AIM listing has not had the desired effect of diversifying Datatec’s investor base. The liquidity of the shares on AIM has been very poor and no significant investors from the UK market have invested in Datatec shares via AIM,” the group said, adding that 24% of Datatec’s shareholders are non-South African and invest via the JSE because of the good liquidity in the market.
Read: Datatec reports big drop in profit after challenging year
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