Newspaper article The Journal (Newcastle, England)

Tolent to Quit AIM Market

Newspaper article The Journal (Newcastle, England)

Tolent to Quit AIM Market

Article excerpt

CONSTRUCTION form Tolent will quit the stock market next week after shareholders agreed the recommendations of the company's board to delist.

The Gateshead-based firm announced its intention to quit last month and at a general meeting yesterday the resolution put to shareholders was passed.

The cancellation of the company's ordinary shares from trading on AIM (Alternative Investment Market) will take effect on February 16.

Established by John Wood 26 years ago, Tolent has been a mainstay of the North construction and civil engineering industry in that time with offices on Tyneside, Teesside, Leeds, Manchester and London.

Like many construction companies Tolent, has suffered during the recession, cutting its workforce from 540 to 300, with annual revenues declining from pounds 150m in 2008 to around pounds 100m last year.

Mr Wood said: "When turnover is down and you are listed on AIM then you have to make an announcement, and in the current climate this can make clients twitchy. …

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