ICB Financial Group Holdings AG Proposed Cancellation of Listing


 
TIDMICB 
 
ICB Financial Group Holdings AG 
Proposed Delisting 
 
The Board of Directors of ICB Financial Group Holdings AG ("ICB" or "the 
Company") wish to announce that the Company intends to seek shareholder 
approval to cancel the admission of ICB shares to trading on the AIM market 
operated by the London Stock Exchange ("Delisting"). 
 
The Board wishes to state that having regard to current developments and 
circumstances, the Directors believe it is no longer in the best interests of 
the Company or its shareholder to maintain an AIM listing. In reaching this 
conclusion, the Board considered the following factors:- 
 
  * that the AIM listing no longer serves a useful function for the Company in 
    terms of providing access to capital or enabling the shares to be used to 
    effect acquisitions, although the Directors acknowledge the benefit to 
    shareholders of having a public market in the shares; 
 
  * the lack of liquidity in trading of the shares (there have been no trades 
    in the Company during the current calendar year); 
 
  * small free float; 
 
  * market capitalisation of the Company is lower than when introduced to the 
    market; 
 
  * limited market appreciation of the Company's broad geographical presence; 
 
  * the significant professional fees associated with the AIM listing (such as 
    legal, accounting, London Stock Exchange and nominated adviser costs); and 
 
  * the amount of senior management time spent in ensuring compliance with the 
    AIM Rules and related regulatory requirements, including reporting, 
    disclosure and corporate governance requirements. 
 
The Board believes that following the Delisting, the Company would benefit from 
substantial cost savings. 
 
It is planned that the Delisting will take effect on 6 November 2012 assuming 
shareholders approve the resolution on the Delisting at the Extraordinary 
General Meeting ("EGM") to be held on 29 October 2012. A notice of meeting for 
this EGM will be issued in due course. 
 
Immediately following the Delisting, there will be no market facility for 
dealing in the shares and no price will be publicly quoted. As a result, the 
Board recognises that the Delisting will make it more difficult for 
shareholders to buy and sell shares should they want to do so. In view of this, 
and in order to assist shareholders, the Board intends to facilitate a dealing 
arrangement for six months following the Delisting to enable shareholder to 
trade in the shares. Once the facility has been arranged, details will be sent 
to all shareholders and will also be made available to shareholders via the 
Company's website:www.icbankingroup.com 
 
This announcement is dated 28 September 2012 
 
The Company's AIM nominated adviser is RFC Ambrian Limited. Contact Stephen 
Allen or Trinity McIntyre on +61894802500. 
 
 
 
END

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