Open Telecommunications seeks delisting

Stuart Corner
Sunday, 26 February 2006 13:51

IT Industry - Strategy

The board of Open Telecommunications plans to make a formal application to the ASX to have the company removed from the official list in the next 14 days.

If the ASX agrees to the request, Open says it will set a timetable with the ASX that will allow those shareholders who wish to sell their shares to do so on market in an orderly fashion. For those shareholders who hold less than a marketable parcel of shares, the company says it may also consider conducting a sale of unmarketable parcels, to facilitate the sale of those shares.