Servoca, the UK-based specialist recruitment and outsourcing firm, announced during its company’s general meeting held today that it will approve the cancellation of the admission of the company's ordinary shares to trading on the London Stock Exchange’s AIM market.

The cancellation will take effect from 19 June 2018.

The company first announced that it would be delisting in May stating that over the last year its share price performance has been "disappointing" and hasn't been reflecting its improved performance and better market conditions.

According to the Directors, delisting will reduce the company's recurring administrative costs by approximately £150,000 per year and that this, together with the end of the share buyback programme, will allow the substantial amount of such expenses to be better spent in running and growing the business in a private capacity.