AsianLogic Proposes London Stock Market Delisting

5/27/2009 by Gaming Industry Media Staff

AsianLogic Ltd., the land-based and online gambling operator, revealed plans to cancel the admission of its shares from London Stock Exchange trading in a Wednesday regulatory announcement.

AsianLogic Ltd., the land-based and online gambling operator, revealed plans to cancel the admission of its shares from London Stock Exchange trading in a Wednesday regulatory announcement.

Subject to shareholders' approval, the decision was based on a recent strategic review conducted by the board to prioritize shareholder value, the group said.

"The board has unanimously decided to recommend delisting to the shareholders as we feel that the current economic environment means there is little benefit to AsianLogic and its shareholders in remaining listed," said Thomas A. Hall, the company's executive vice chairman and co-founder, in the announcement.

"The delisting will reduce costs and management time associated with a listing on AIM and will enable AsianLogic to focus its operations to better service our shareholders, business partners and customers alike."