Secure Trust looks to maximise growth opportunities by ditching AIM

SOLIHULL-based Secure Trust Bank has confirmed its intention to switch its listing from the Alternative Investment Market to the main market on the London Stock Exchange.

The bank said it believed the move would unlock further growth for the business.

“The directors believe that admission (to the main market) will help unlock substantial potential by providing the group with a more liquid market and a greater range of potential investors for its shares as well as raise its corporate profile and brand awareness,” said the bank in a statement.

“The directors believe that, as the group has increased in scale, a Main Market listing is more appropriate for the group.”

The bank will now move to cancel its listing on AIM.

The bank also said that subject to regulatory approval and following admission to the Main Market, Lord Forsyth would become the chairman of the board of directors and Sir Henry Angest will become a Non-Executive Director.

The board also expects to appoint additional independent NED following admission.

The bank is not raising any funds or issuing any new shares in connection with admission.
 
The move is expected to complete on October 12.