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UK – HCL sets date for delisting shares

01 May 2013

Healthcare Locums (LON:HLO) today set a date when the company plans to delist its shares from the London stock exchange. The firm has applied to cancel trading on AIM and now expects shares to delist on 3 June 2013.

Angel Acquisitions, which recently acquired the healthcare recruiter and is made up of investors and shareholders of the company, now owns 77.33% of the issued share capital of HCL.

Angel Acquisitions has requested HCL cancel trading before undergoing operational and financial restructuring. Earlier this month, it waived all conditions to its takeover bid for the staffing company, declaring the offer fully unconditional.

“Such cancellation of admission to trading is likely to significantly reduce the liquidity and marketability of any HCL Shares not assented to the offer,” HCL said today.

Angel Acquisitions will also seek to re-register HCL as a private company.

HCL has come under financial pressure, earlier this year announcing that extra capital funding was needed to keep the business afloat. Last month, the firm said it was potentially facing a costly claim from former executive vice chairman, Kate Bleasdale, over a previous suspension of trading in HCL's shares in 2011. The company is currently considering a response to the claim.

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