Published: 06:00, 25 March 2014 |
Updated: 10:29, 25 March 2014
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.
Don't miss out, subscribe today. Keep up to date with our newsletters.
A guide for your future. For year 11 students in Kent and Medway. Click here for the e-edition.
Education, Training & Childcare is a special supplement published by KM Media Group four times a year. Click here for latest e-edition.
Get the latest food and drink news, recipes from some of the nation's top chefs plus updates from Kent's vineyards and breweries.
Search in your local area to find your perfect partner in Kent, with FreshStart Dating! PLUS, register for free!.
Find out what's going on in the garden, with Kent expert Lucy Hewett's weekly update.
Buy pictures that you've seen in a KM newspaper, or send in a picture and we will place it on our photo sales website so that you can purchase a super, unique gift.