Journey Group to de-list from AIM

Journey Group is to de-list from trading on AIM on the London Stock Exchange after Jaguar Holdings bought the majority of the voting rights in the catering and cabin service provider to the airline and travel industry.

On Wednesday, Jaguar Holdings bought a further 1.3m shares at 10.43p each in Journey, bringing its total to over 10m shares, which represents at least 75% of the voting rights in the company.

On Thursday, Jaguar said that Journey should apply to cancel the admission of its shares to trading on AIM.

The company said that it will shortly make an application to the London stock Exchange, with an expected cancellation date of 16 December.

Jaguar said de-listing on AIM will significantly reduce the liquidity and marketability of any shares which the recommended mandatory offer is not accepted.

Once cancellation has taken effect, Journey’s shareholders will no longer be able to effect transactions on AIM.

Jaguar was formed at the direction of Harwood Capital, a private investment firm that focuses in UK small-cap companies, on behalf of the Harwood Funds, and was specifically designated for use in acquiring Journey.

Shares in Journey Group were down 0.08% to 237.30p at 0822 GMT.