London’s junior, junior stock exchange, Plus Markets, is set to close having failed to attract a takeover and running out of cash.
Plus, home to 156 companies including Arsenal football club, brewers Shepherd Neame and Adnams and Newbury racecourse, said it would take up to six months to wind down.
It said it was working closely with the Financial Services Authority to help companies whose shares are traded on Plus to find suitable alternative arrangements.
The obvious choice is the London Stock Exchange’s junior stock exchange AIM but there are a handful of other registered investment exchanges. Plus put itself up for sale in February. Today it said its cash balances, which stood at £4.6 million in June 2011, were unlikely to be sufficient to meet the FSA’s regulatory requirements.
