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TXO acts to quash delisting rumours

Last updated: 10:32 29 Jan 2015 GMT, First published: 11:32 29 Jan 2015 GMT

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Investment company TXO (LON:TXO) has quashed rumours that it is going to delist from the Alternative Investment Market (AIM).

The rumours started circulating after TD Direct Investing (Europe) sent out a letter to its customers saying that trading in TXO’s shares will be cancelled with effect from 23 February 2015.

TXO is currently looking for a new nominated adviser (nomad) and broker, and needs to appoint a nomad before 23 February otherwise trading in its shares will be suspended from that date, after which it will have a month to appoint a nomad or its listing will be cancelled.

The company said it expects to be in a position to make an announcement on that front shortly.

TXO said it is aware of the source of the incorrect information disseminated by TDI and is taking advice on the legal and regulatory steps it should take in regards to this individual.

Shares in TXO shot up to 0.0948p on the news, having been trading at 0.07p at the time of the announcement, and are up 18.5% on the day.

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