Wednesday March 4, 08:11 AM
UPDATE 1-Metnor seeks delisting from AIM
* Convenes EGM on March 20
* Shares indicated down 8.75 pct
(Recasts; adds details)
March 4 (Reuters) - Property developer Metnor Group Plc said it was seeking shareholder approval for delisting from AIM due to low trading volumes and high costs of maintaining admission to trading on the exchange.
Metnor follows several other firms, such as OCZ Technology Group Inc and Chromogenex Plc (LSE: CGX.L - news) , which intend to delist from AIM amid a weak economy.
Shares of the company were indicated down 8.75 percent at 36.5 pence at 0752 GMT.
(Reporting by Purwa Naveen Raman in Bangalore; editing by Vinu Pilakkott) Keywords: METNOR/
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