HMV wants to change its listing category on the London Stock Exchange from premium to standard.
The move would make it easier for the retailer to make “certain strategic decisions” in a more “timely and cost effective manner” at a time when it is looking to sell certain assets from its live division.
“The board considers that the proposed transfer is in the best interests of the company and its shareholders as a whole,” said a statement from the company.
“The board believes this transfer will facilitate a more cost efficient and timely strategic review of the live business and reduce administrative costs generally.
“Furthermore, the board wishes to align its regulatory responsibilities and the associated costs thereof with the company’s size”.
HMV has already sold the Hammersmith Apollo as part of its live divestments. The company's board has voted in favour of the deal, which is set to be finalised next month.
Via: CMU
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