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Optimisa Opts Out of AIM
UK-based market research group Optimisa has agreed to cease trading on the AIM (Alternative Investment Market) stock exchange in London, following a vote from shareholders at its AGM earlier today.
At the end of last month, after reporting a loss of £4.5m for 2008, Optimisa's Board recommended that shareholders approve the delisting of the firm's shares from AIM, in order to save £100k p.a. in associated administration costs.
As pre-tax profits began to tumble last year, the firm began introducing cost-cutting measures, which included a 20%+ reduction in headcount at its UK-based research companies. Some functions previously provided centrally were devolved down to the operating units and the group also eliminated the role of COO.
In addition, the firm sold KAE Asia and commenced discussions to sell its US strategic market analysis firm nxtMOVE, to prevent any further 'cash drain'.
As the AGM date approached, shares dropped a further 15% to 8.5 pence, compared with a highest price of 229 pence in September 2007.
Cancellation from AIM will take place on Monday 27 July, and shareholders will be able to carry out dealings in ordinary shares on the exchange up to close of business the previous Friday.
Optimisa currently comprises kae: marketing intelligence nxtMOVE, Andrew Irving Associates, and the EQ Group, which includes Buckingham Research Associates, Quaestor Research & Marketing Strategists and Summit Studios.
Web site: www.optimisaplc.com .
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