Sportech plan move to AIM market

Business News

Sportech said Friday that its board plans to apply for admission of the company’s shares to trading on London’s junior AIM market and to cancel its listing on the main market of the London Stock Exchange.

The betting-technology company said its directors believe that AIM is more suited to its current size and strategy. Moving its listing should enable the company to execute certain transactions more quickly and cost effectively, Sportech said.

The company has scheduled a general meeting for June 29 to vote on the board’s proposal, which requires support of at least 75% of shareholders who vote, it said.