Azure Dynamics to delist shares on AIM from May 8

* Cites low trading volume, extra listing costs
* Says to maintain listing on Toronto Exchange
* UK shareholders to be migrated to Canadian register

April 6 (Reuters) - Azure Dynamics Corp ,
a Canada-based maker of hybrid electric and electric
powertrains, said on Monday it would delist its shares on AIM,
London Stock Exchange's junior market, effective May 8.
The company cited low volume of trade and the additional
costs incurred to maintain a second listing.
However, it would maintain its listing on the Toronto
Stock Exchange.
Azure joins a group of small companies cancelling their
public float in the UK amid market turmoil. About 40 companies
have so far delisted from AIM.
Given the company's North America-focused shareholder base
and operations, the low number of shareholders in the UK, low
trading volume on AIM and the extra costs, "it is in the best
interests of the company to seek a cancellation of its shares
from trading on AIM," it said in a statement.
The Toronto-listed Azure said its certified shareholders
in the UK would be migrated to its Canadian register
automatically and would be notified
(Reporting by Srikanth Srinivasa in Bangalore; Editing by
Gopakumar Warrier)
((srikanth.srinivasa@thomsonreuters.com; +44 207 542 7717;
Reuters Messaging: srikanth.srinivasa@thomsonreuters.com))
Keywords: AZUREDYNAMICS/DELISTING

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