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JJB prepares move from LSE to AIM
293,312,703 ordinary shares worth 1p each to be submitted to the Alternative Investment Market on April 28
JJB Sports has submitted the schedule to move its shares from the main London Stock Exchange (LSE) to the Alternative Investment Market (AIM).
The move is part of its revised business plan to ‘restore the viability of the Group's business model and return the business to profitability in the longer term’.
Some 293,312,703 ordinary shares valued at 1p each will be submitted to the AIM, with admission expecting on April 28, as previously planned.
JJB Sports said ‘no capital is being raised on admission’ adding that ‘the anticipated market capitalisation on admission will be approximately £100m’.
The announcement was required by Rule 2 of the AIM Rules for Companies.
