GB Group to move to AIM
GB Group, a provider of identity management and marketing services, has announced plans to leave the main market and transfer the admission of its ordinary shares to AIM. The Chester company cited the benefit of lower transactional costs and simpler administration and regulatory requirements more appropriate to a company of GB Group’s size.
It added that a move to AIM would “make the implementation of GB's plans for the next stage of growth easier”. In particular, the board hopes that a move to AIM will offer greater flexibility to support its organic growth with complementary acquisitions since corporate transactions can be executed more quickly and cost effectively compared to the main market.
The business also confirmed that David Rasche, the executive chairman of Yorkshire-based SSP, is to join as a non-executive director on 1 September. Richard Law, chief executive of GB, said: “David's appointment and the other moves announced today are designed to help GB build on the strong foundations laid over recent years and to accelerate our growth, both organically and potentially through acquisition.”
