TLRC plans to drop Stock Market
Posted by
TLRC plans to drop Stock Market

The last publicly listed UK radio broadcaster, TLRC, is planning to de-list itself from the Alternative Investment Market.

The company, now mostly owned by UKRD, is currently seeking Shareholder approval to cancel the admission of the Ordinary Shares to trading on AIM, and to leave the London Stock Exchange. It said it will generally be simpler and more cost effective to manage an unlisted company, rather than a publicly quoted company.

Since UKRD took control of TLRC, it has sold six stations (IOW, Fire, Silk, Central, Sovereign and Arrow FM) and closed another (Mix 107). Reports also suggest a 7th (The Quay) will be sold in the next couple of days.

It will leave TLRC with full control of 12 stations, and with a major shareholding in one other, 107 The Bee in Lancashire.

In a statement issued today, the company says [i]cash flow remains difficult and is a matter held under constant review by the Board. The Directors have undertaken a review of the benefits and disadvantages of the Company continuing to be admitted to trading on AIM. Following this review the Directors have concluded that it would be more beneficial for the Company and Shareholders if the Company were to de-list from AIM whilst the restructuring of the Company continues.[/i]

The Extraordinary General Meeting to decide such fate will be held on 22 September 2009.

Hear more radio industry news like this at the top of the hour on inRadio - the radio industry's very own radio station. Listen now in a new window whilst you continue reading RadioToday or press play below.

0 0 466 26 August, 2009 Industry News 8:25 pm 20098 Wednesday, August 26th, 2009

Leave a Reply

Looking for something else?


Subscribe to our emails to stay informed about the latest radio news and products delivered straight to your inbox.

Related Posts

No related posts were found
RAJAR Q3 2016 - October 26, 2016 at 11:00 pm (London)
WorldDAB General Assembly 2016 - November 9, 2016 at 10:00 am ()
Student Radio Awards - November 10, 2016 at 6:00 pm (The O₂ 10 Entertainment Avenue, London, SE10 0DY, England)
BBC Gillard Awards - November 10, 2016 at 7:00 pm (Newcastle)
Audio Production Awards - November 23, 2016 at 6:00 pm (BFI Southbank, Belvedere Road, London)
Radio TechCon 2016 - November 28, 2016 at 10:00 am (The Arts Theatre, 6-7 Great Newport St, London WC2H 7JB)
Salon de la Radio - January 29, 2017 at 10:00 am (Paris)
Salon de la Radio - January 30, 2017 at 10:00 am (Paris)
More events