Character AIM switch looms

Character Options will complete its switch from a full listing on the Stock Exchange to the AIM (Alternative Investments Market) on Friday.
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It was announced at the firm’s EGM today that the issued Ordinary Shares in the group will be admitted to trading on AIM and that dealings will commence at or shortly after 8am on Friday 2nd December. The listing of the issued Ordinary Shares on the Official List will be cancelled, and dealings on the London Stock Exchange’s market for listed securities will cease, at the same time.

Character’s executive chairman and joint managing director, Richard King (pictured), said: “We believe that AIM, which, over its ten year history, has proved to be a robust market even in challenging times, will provide a supportive environment for the Group to better achieve its business and strategic objectives. AIM also provides, in our opinion, a more flexible and cost-effective environment for a company of our size and stage of development.

“I am delighted to be able to report that the new financial year has started very strongly with reported sales up to yesterday being over 40 per cent ahead of the same period for last year. We are also expecting to achieve further progress over last year in the lead up to Christmas and into the New Year. Against this backdrop we believe that the Group’s results for the first half to February 2006 will be far better than the loss of £1.9 million recorded for the half year ended 28 February 2005.”

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