Regent Inns to delist from stock market on Monday

12 June 2009 by
Regent Inns to delist from stock market on Monday

Embattled bar operator Regent Inns will delist from the London Stock Exchange on Monday 15 June.

The Walkabout owner, which reported an annual loss of £58.1m last October, believes it could save around £200,000 by delisting.

The move comes after the company admitted in February it was unlikely to survive unless it rebuilds its flagging sales.

Jim Glover, non-executive chairman of Regent Inns, said: "The private company arena is now the most practical one for Regent and will provide a more suitable environment in which to manage the company.

"After much consideration, the board now regards the delisting to be in the best interests of the shareholders of Regent as a whole. It is recommending this course of action to shareholders accordingly."

After delisting Regent Inns will place its shares, valued at 5p, on Sharemark on 16 June, which is a member firm of the London Stock Exchange.

Regent Inns confirms it is considering delisting from stock market >>
Regent Inns future in doubt unless it addresses falling sales >>

Regent Inns sees no let up in tough trading conditions >>

Regent Inns reports £58.1m loss >>

By Chris Druce

E-mail your comments to Chris Druce here.

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