Shares Down 24% Following Cancellation Proposal Announcement
- Hermes Pacific Investments shares plummet after announcing a proposal to cancel its listing on London’s AIM
- Shares down 24% at 40 pence due to the cancellation plan
- Company believes current share price doesn’t reflect asset value
- No fresh capital raised or shares issued for acquisitions since 2013
- Delisting expected to end on Sept. 9 if approved
Hermes Pacific Investments announced a proposal to cancel its listing on London’s AIM, causing shares to plummet by 24%. The company believes the current share price doesn’t reflect its asset value and hasn’t used the market for capital or acquisitions since 2013. If approved, trading is expected to end on Sept. 9.
Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about the company’s decision to cancel its listing on London’s AIM, the reasons behind it, and the expected timeline for the delisting process.
Noise Level: 3
Noise Justification: The article provides relevant information about a company’s decision to cancel its listing on London’s AIM and gives reasons for doing so, but lacks in-depth analysis or exploration of the consequences of this decision.
Public Companies: Hermes Pacific Investments (HPI)
Key People: Anthony O. Goriainoff (Author), Directors (Management)
Financial Relevance: Yes
Financial Markets Impacted: Hermes Pacific Investments and London’s AIM market
Financial Rating Justification: The article discusses a company’s decision to delist from the AIM market, which is related to financial markets as it impacts Hermes Pacific Investments and the London’s AIM market. The share price of the company is also mentioned, making it relevant to finance.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.
Move Size: 24%
Sector: All
Direction: Down
Magnitude: Large
Affected Instruments: Stocks
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