Optimisa shareholders vote in favour of AIM delisting

UK— Investors in research and intelligence group Optimisa have voted to delist the firm’s shares from the Alternative Investment Market (AIM) as part of cost-cutting efforts.

The owner of KAE, Andrew Irving Associates, Quaestor and Buckingham Research says it will save over £100,000 a year through the move. Shareholders will be able to carry out dealings on AIM up until the close of business next Friday, 24 July, the company said.

Savings from the delisting will help Optimisa to continue to abide by agreements with its bank, thus avoiding any rises in fees or interest rates. It also believes the move will have positive implications for any future trade sale – thought by the directors to be “the most likely exit route for shareholders”.

Announcing its plans, the firm said: “The directors believe that the proceeds from a potential trade sale would be negatively impacted by there being a reference to an underperforming share price.”

The value of Optimisa’s stock has fallen from a high of 67p per share a year ago to 8.5p today. It made a loss of £4.5m in 2008 – blamed on the “disappointing performance” of the EQ Group, which it acquired in 2007.

It recently disposed of its Asian business and put US operation NxtMove up for sale, both of which, it said, are loss-making entities.

Cost-cutting measures taken last year included a reduction in headcount from a peak of 209 to 187 at the end of the year. More jobs have gone across the group since then.

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