Mon, Apr 02, 2012 | 23:53 BST
Stock Market delisting requested by Game
The GAME Group released a statement today confirming that it’s asked for its securities to be removed from the stock exchange.
The retail chain, which exited adminstration yesterday after being bought by Comet owner OpCapita, announced the news via the following statement:
“Further to the announcement of 21 March 2012 and the appointment of PWC LLP as administrators for the Group on 26 March 2012, GAME Group plc has today applied for the listing of its securities to be cancelled from the Official List and for the admission to trading of its securities to be cancelled from the Main Market of London Stock Exchange plc with effect from 3 April 2012, pursuant to LR 5.2.12(2).”
This can be seen as a hit to any remaining shareholders as they’re likely to lose their investments unless PwC can recover some of the value from the company’s remaining assets.
Earlier today, it was announced that ex GAME employee and former GameStation boss Martyn Gibbs will be the new CEO of the company.