Glencar Mining to seek listing on AIM

RESOURCE company Glencar Mining is to seek a listing on London’s Alternative Investment Market (AIM).

The company, which already holds a listing on the Irish Enterprise Exchange (IEX), Dublin’s secondary market, also said it had changed its mind on a proposal to consolidate its shares and that the board would vote against the proposal at an upcoming extraordinary general meeting.

“In the light of the more negative market conditions now prevailing, the board is not convinced that to proceed with the consolidation at the present time would be in shareholders’ best interests,” chief executive Hugh McCullough told shareholders.