Northamber plans to drop down to Aim

4th Jul 2013 11:38

Trade computer equipment distributor Northamber has proposed to move from the official list to Aim to cut costs. The board of the Fledgling company said it believed a junior listing would provide a market and environment more suited to the company's size and would simplify its ongoing administrative and regulatory requirements.Management intend to take advantage of Aim's increased flexibility, particularly with regard to corporate transactions, to enable Northamber to agree and execute certain transactions more quickly and cost effectively.The proposal will be put to shareholder vote at a general meeting on July 31st at the company's Surrey offices with the intention of leaving the main market on August 30th.Shares in Northamber were unmoved at 29.5p at 12:35 on Thursday.OH