AIM News: Property company cancels listings

Balmoral International Land looks set to cancel its planned admission to the Alternative Investment Market (AIM), as well as the Enterprise Securities Market, it has been decided.

The property firm came to the decision at its Extraordinary and Annual General Meetings after passing a resolution. It was also approved that there would be a proposed reorganisation of the company, including the creation of a new group holding firm.

Balmoral, which has a selection of modern properties in Ireland, the UK and continental Europe, said in a statement that the cancellation of its trading shares and the company reorganisation should both have been completed by September 2 of this year.

The organisation was established on March 3, 2006, as Blackrock International Land.

Its first move was to acquire the property undertaking of Fyffes plc on May 11, 2006, together with related debt due to Fyffes and ancillary net liabilities.