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- Software company OtherLevels’ (OLV) shareholders have approved the company’s move to delist from the Australian Securities Exchange
- It has decided to leave the ASX due to the price of securities, low levels of trading liquidity and the high ongoing costs
- Over 98 per cent of votes were in favour of the delisting, meaning the company will be removed from the ASX on August 10
- On market close, OtherLevels is in the grey and trading for 0.5 cents per share
Software company OtherLevels’ (OLV) shareholders have approved the company’s move to delist from the Australian Securities Exchange
Last month, the company submitted its application to delist from the ASX. It decided to leave the stock exchange due to the price of securities, low levels of trading liquidity and the high ongoing costs.
Over 98 per cent of votes were in favour of the delisting, meaning the company will be removed from the ASX on August 10.
Shareholders that do not wish to remain shareholders in a non-publicly traded company can sell their shares on the stock exchange before August 10.
After that date, shareholders wishing to trade their shares will have to transfer their shares off-market to a willing third-party purchaser.
After delisting, Directors will be assessing the appropriate measures to realise shareholders’ investment in the company which could include, sale. merger or acquisition. However, it is not certain that this will happen.
“The directors would like to thank shareholders for their support of the company and look forward to continuing to grow the company in the future,” OtherLevels said.
On market close, OtherLevels is in the grey and trading for 0.5 cents per share.
