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Regent Inns to de-list from Stock Exchange
Regent Inns, the pub company that runs the Walkabout chain, has announced its intention to de-list its shares from the London Stock Exchange.
The firm - which reported losses of £58m last October - said it estimated that the compliance, administration and legal costs associated with its official listing were in excess of £200,000 per year, and expects that the costs will not be incurred following the de-listing.
Shareholders will no longer be able to buy and sell shares through a public stock market, but shares will continue to be freely transferable through Crest.
Jim Glover, non-executive chair of Regent Inns, said: "The private company arena is now the most practical one for Regent and will provide a more suitable environment in which to manage the company.
"After much consideration, the board now regards the de-listing to be in the best interests of the shareholders of Regent as a whole. It is recommending this course of action to shareholders accordingly."
If the proposal is approved by shareholders, the de-listing will take place on 15 June.
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