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A recruitment firm has announced its intention to withdraw its shares from the ISDX Growth Market and become an unlisted company.
Ashford-based HR Go said 77.94% of its shareholders, owning nearly 15.5m shares, had voted in favour of withdrawal.
In a statement by company directors, the firm said that since joining the ISDX it had “reviewed a number of opportunities of using its quotation to maximise shareholders value with no success”.
The board’s believes the company will be best developed as an unlisted company.
Directors feel leaving the market will put it “in a better position to react to the fast changing market in which it operates, without the increased pressure and responsibility of having to comply with the ISDX Rules when making time sensitive, management decisions”.
Withdrawal will mean the firm – which also has offices in Canterbury, Chatham, Dartford, Folkestone, Ramsgate, Sittingbourne – will no longer have to comply with ISDX rules when making time-sensitive management decisions.
However, bosses remain committed to distributing copies of its annual accounts each year.
In January, it appointed Craig Vidler as managing director.
After withdrawal, the company’s ordinary shares will be traded on the J P Jenkins share matching service.
It is expected it will cease trading on the ISDX on April 17.
The firm was founded in Dartford in 1957 but now has its head office in Ashford.
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