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Shore Capital shareholders approve cancellation of AIM listing

British investment group Shore Capital Group Ltd. said it received shareholders' approval for the cancellation of the admission of the company's shares to trading on the London Stock Exchange's AIM market.

Votes cast in favor of the company's resolution for cancellation of admission to trading of shares on AIM represented around 81.72% of its total issued share capital, while votes against the resolution represented approximately 2.15% of its issued share capital.

Shore Capital said that approximately 97.44% of the votes were cast in favor of the resolution.

In late September, the company said it would seek to cancel the listing because its shares were undervalued, because the costs of maintaining the listing were disproportionate to the benefits gained, and because it had sufficient capital to meet growth ambitions, thereby negating the need for the listing.