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Quayle Munro, the corpor-ate finance and investment boutique, is to move its listing to the Alternative Investment Market after 10 years on the main market.
The company yesterday reported another set of strong results, lifting its total return per share by 21% and its dividend by 10%, though pre-tax profit slipped 7% to (pounds) 1.1m.
The Edinburgh-based minnow becomes the third Scottish group to downsize its listing this year , after IndigoVision and Inveresk, in a main market climate of growing indifference to the smallest companies.
Ian Jones, chairman and co-founder of the company, said the AIM did not exist in 1993 and was now more appropriate for the company's structure.
Bank of Scotland holds 29% of the shares, Jones and colleague Jo Elliot hold around 35% between them, and another 15% is held by other private individuals, leaving barely 20% in the market.
"We don't need new share capital,...