ADW Addworth

    RNS Number : 1429H
  Addworth PLC
  31 October 2008
   
    ADDWORTH PLC

    In the light of current market conditions and having considered the ongoing costs of maintaining its listing on AIM, combined with the
previously announced resignation of Nabarro Wells as its Nominated Adviser, the Directors of Addworth Plc will be seeking the approval of
its shareholders to apply for Admission to the PLUS Market. 
    In the light of the above Addworth has not appointed a new nomad within one month of the resignation of Nabarro Wells, so pursuant to
AIM Rule 1 the Company's AIM Securities will be cancelled with effect from 7am on 3 November 2008.
    Accordingly a circular will be sent to shareholders in due course outlining a restructuring of its business activities and convening an
extraordinary general meeting to seek the necessary approvals for various matters.
    The Board believes that PLUS Markets offers an appropriate capital market for companies of Addworth's size and will also offer a
continuing trading platform for shareholders. Additionally, in the current economic climate, the Board is seeking to reduce the
administrative cost of maintaining a trading facility for its shares and believes that the costs associated with a PLUS quote are likely to
be less than continuing with a quote on AIM.

Addworth is currently in discussions with various advisers regarding a potential PLUS listing.
    The Directors will consider implementing an interim matched bargain trading facility to bridge the timing gap in leaving AIM and seeking
the Admission to PLUS, in which case a further announcement will be made giving details in this regard. 

                        Mark Watson-Mitchell  
                                                                                                               Executive Chairman

       Addworth Plc
   1 Carthusian Street
   London
   EC1M 6DZ
   Tel:              020 7638 8750      Direct:         020 3102 8752     Fax:              020 7608 1481   


This information is provided by RNS
The company news service from the London Stock Exchange
 
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