18/12/2012 - 15:15

Hire Intelligence seeks delisting.

18/12/2012 - 15:15

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Hire Intelligence seeks delisting.

Jolimont-based computer and audio visual rental company Hire Intelligence has applied to be delisted from the ASX, citing a lack of liquidity, a small amount of trades and high listing costs as reasons for the application.

In the company’s statement to the ASX, managing director Keegan Crage noted there had only been 14 trades in the past 12 months, and that these had collectively accounted for a price volatility of 54 per cent over that period.

Chairman Thomas Crage holds around 90 per cent of the shares in the company,  and the company stated that "as a result of this low free float, there has been a significant lack of liquidity in trading in the company's shares".

The ASX has given written approval for the delisting, subject to the company holding a general meeting of shareholders in January next year.

Hire Intelligence expects to be delisted sometime after the end of February next year.

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