ALEA Alea

 

TIDMALEA 
 
RNS Number : 3065W 
Alea Group Holdings(Bermuda) Ltd 
17 November 2010 
 

Alea Group Holdings (Bermuda) Ltd. 
17 November 2010 
 
 
 
                        Alea Group Holdings (Bermuda) Ltd 
 
              Application for cancellation of admission and listing 
 
At a meeting of the Board of Directors of Alea Group Holdings (Bermuda) Ltd (the 
"Company") held on 16 November 2010, the directors of the Company (the 
"Directors") approved a resolution proposing to cancel the standard listing of 
the Company's common shares of US$0.01 (the "Common Shares"), which are held and 
settled in CREST by means of depositary interests (the "DIs") and which are 
traded on the main market of the London Stock Exchange (the "Cancellation"). 
Consequently, the Board of Directors intends to request that the UK Listing 
Authority cancel the listing of Common Shares of the Company from the Official 
List and cancel the admission to trading of the Common Shares on the main market 
of the London Stock Exchange. 
It is anticipated that the Cancellation will take effect from 24 December 2010. 
Reasons for the proposed Cancellation 
The Directors believe that the Cancellation is in the best interests of the 
Company for the reasons set out below: 
·    The Company currently expects to make material cost-savings in relation to 
the external costs it currently incurs as a listed company. In particular, the 
Company expects to be able to reduce, or in some cases eliminate, its 
professional fees, LSE annual fees and charges, and general costs associated 
with public company announcements, mailings and shareholder services. 
·    Generally, the Company will be subject to a lighter regulatory burden 
thereby increasing its flexibility and reducing management time devoted to 
compliance matters. 
·    It is unlikely, in the foreseeable future, that the Company will seek to 
raise funds by way of a public issuance of new Common Shares. In practical 
terms, therefore, the continued listing of the Company does not afford the 
Company any advantage in terms of additional sources of funding relative to the 
ongoing cost of maintaining the listing. 
Cancellation 
Listing Rule 5.2.8 allows a company with a standard listing which wishes to 
cancel the listing of its shares to do so by way of notifying, via the RNS, such 
cancellation at least 20 business days before the intended cancellation date. 
Notice to holders of DIs 
Holders of DIs will automatically receive the underlying Common Shares in 
respect of their DIs by transfer of their positions into book entry form by way 
of entry in the Company's register of members at BNY Mellon Shareowner Services, 
the Company's U.S. Transfer Agent and Branch Registrar, on 24 December 2010, 
subject to the requirements of Bermuda law and any requirements of the Bermuda 
Monetary Authority. DI holders who require a share certificate in respect of 
their Common Shares should contact BNY Mellon Shareowner Services, 480 
Washington Boulevard, Jersey City, New Jersey 07310, United States, Tel. 
1-800-522-6645 (within the US) or +1-201-329-8660 (outside the US). 
###### 
 
Enquiries: 
 
Jeffrey R. Rosenthal 
Alea Group Holdings (Bermuda) Ltd. 
+1 441 296 9150 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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