by Renee Israel
Yesterday, Playtech confirmed that it will be delisting from the
London Stock Exchange's AIM market and has set its sights on moving to the main
board on the LSE's Official List.
And earlier this week, Playtech made a stock exchange announcement that it had
signed a deal with Skywind Holdings Ltd, that will propel the group into the
fast growing social gaming arena.
Playtech said that it would apply for admission to the LSE main
market, and hopes to begin trading by July 2nd. The firm's ordinary stocks will
be listed on the premium section of the Official List of the UK Listing
Authority. The group will also apply for permission to trade on the LSE's main
market for listed securities.
"The company believes that the Official List is the most
appropriate platform for the continued growth of the group by increasing
Playtech's profile, assisting in the liquidity of the company's shares and
providing a greater range of potential investors for the company," noted
Playtech in an official statement released yesterday.
Playtech Delisting from AIM Market
Under the rules of the London Stock Exchange, Playtech needs to
give notice of its cancellation of trading on the the AIM market. This move will
be effective from July 2nd, 2012.
Parallel to this will be the admittance of Playtech's ordinary
shares to the Official List, and trading will begin on the main market of the
London Stock Exchange on the same day.
Playtech will still need to obtain final approval of these
important moves from the London Stock Exchange and the UK Listing Authority.
Just before the move from the AIM to the Official List, Playtech
will publish its prospectus around the end of the month.
Official Notification to LSE
The official notification sent to the London Stock Exchange read:
"Further to previous announcements, Playtech confirms its intention to apply
for admission to listing of its ordinary shares on the premium segment of the
Official List of the UK Listing Authority (the 'Official List') and admission to
trading on London Stock Exchange Plc's main market for listed securities
"Pursuant to Rule 41 of the AIM Rules for Companies, the Company hereby gives
notice of the intended cancellation of trading of its shares on the AIM market
of London Stock Exchange Plc."
The group also said that it would make a further announcement about
Playtech's shift to the LSE main board in due course.