World Class seeks delisting

Fitness centres operator and training equipment provider World Class Seagull International (STO: WCSI) seeks to be removed from OMX First North Stockholm where it has been listed since 2008. The major owner of the company is NorgesInvestor. Recently a General Meeting which was supposed to decide on a new convertible bond issue for existing shareholders was pushed back to be held at the end of this month. The company said that delisting is due to the company no longer fulfilling First North rules for sufficient number of shareholders or general public float. Additionally maintaining a stock market listing has proven an onerous financial burden. A formal application for delisting is expected soon and presumed last day of trading is August 31st.